In an effort to ensure that big time economic offenders who have fled abroad are brought back, the government is working to have agreements with the maximum number of countries in this regard, the Lok Sabha was informed on Friday.
Responding to supplementaries during Question Hour, Finance Minister Arun Jaitley said the extradition process takes a lot of time though some countries extend help in sending back such people fast by deporting them.
In an effort to ensure that such people "cannot hide" in other countries, the government is working on having agreements with maximum number of nations, he said.
When asked by Saugata Roy (TMC) as to what steps the government has taken to bring back "IPL man" and "Kingfisher man" back, the Finance Minister, without taking names, said Rs 840 crore worth of assets has already been attached by various enforcement agencies.
Roy was asked by the Chair not to take names in the House.
Jaitley said the Finance Ministry was examining whether a new law would be required or prevailing statutes will have to be amended to confiscate the properties of those who commit financial crimes in India and hide abroad. This was part of his latest Budget speech also.