India, May 2 -- Rashid Naseem, promoter of real estate firm Shine City, absconding since 2019, has been declared a fugitive economic offender (FEO) by a Lucknow court on the Enforcement Directorate's (ED) request, agency said on Thursday.

Brought in by the government in 2018 to deter economic offenders from evading the process of Indian law by remaining outside the jurisdiction of Indian courts, FEO act empowers authorities for non-conviction-based attachment and confiscation of proceeds of crime and assets, where amount involved is above Rs.100 crore.

ED said in a statement that it a Lucknow special prevention of money laundering act court declared Naseem - the main promoter of Shine City Group - as a FEO on April 30.

Naseem is the 15...