MCA issues lookout notices against 20; Jet Airways founder Naresh Goyal's name on list
The look-out notice has been served against people who allegedly siphoned funds or were involved in serious fraud and irregular transactions, sources said.
Look-out circulars are issued by several authorities, including the Ministry of External Affairs, MCA, Income Tax Department and Enforcement Directorate
Look-out notice are served against people who allegedly siphoned funds or were involved in serious fraud and irregular transactions
Govt agencies seem to have become proactive after receiving a lot of flak with Nirav Modi, Mehul Choksi, Vijay Mallya fleeing the country
The Ministry of Corporate Affairs (MCA) has reportedly suggested over 20 names against whom a look-out circular (LOC) has been issued, a media report said. Sources said the circular includes the name of Naresh Goyal, the chairman of the now-grounded Jet Airways.
Jet Airways founder Naresh Goyal was Saturday stopped from leaving the country due to a lookout circular issued by the Union Home Ministry, officials said.
A senior government official told CNBC-TV18, that over 20 names have been suggested to the central Intelligence Bureau (IB). "The list is based on cases where investigations are pending and the government feels that there is a high possibility of these people running away from the country," the official added.
On Saturday, Naresh Goyal, former chairman of Jet Airways Naresh Goyal and his wife Anita Goyal were denied permission to travel abroad by the immigration authority at Mumbai airport sources said.
The couple was to travel by Dubai-bound Emirates flight EK 507 when the immigration authority denied them permission to fly, sources told PTI.
The Ministry of Home Affairs (MHA) recently made changes in the circular by including CEOs of PSBs in the list of officials who can make a request for issuance of LOCs to the ministry.
Look-out circulars are issued by several authorities, including the Ministry of External Affairs, MCA, Income Tax Department and Enforcement Directorate, to keep a watch on arrival to and departure from India of both Indians and foreign nationals.
The lookout notice has been served against people who allegedly siphoned funds or were involved in serious fraud and irregular transactions, sources said.
Indicating a strict stance against economic offenders, the circular sent out to investigating and securities agencies says their "summer vacation needs to stop".
People with knowledge of the developments said that the list has been prepared over time and will be revised and new names will be added if needed.
In February, the Central Bureau of Investigation (CBI) had issued lookout notices against former ICICI Bank CEO Chanda Kochhar, her husband Deepak Kochhar and Videocon Group managing director Venugopal Dhoot. The move was taken nearly a week after a case was registered against the Kochhars and Dhoot, sources told PTI.
The move comes against the backdrop of defaults by Vijay Mallya, Nirav Modi and Mehul Choksi and thereafter, fleeing the country.
Meanwhile, CMDs (chief managing director) of both public and private sector banks have also been empowered to inform law enforcement agencies if a notice needs to be served against any willful defaulter whom they suspect of trying to abscond from the country. In a few cases, the banks have also been asked to take custody of passports of such offenders.
The government and the law enforcement agencies seem to have become proactive after receiving a lot of flak with economic offenders such as Nirav Modi, Mehul Choksi and Vijay Mallya fleeing the country in the past few years.
--With inputs from agencies
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Earlier in the day, a Mumbai court Sanjay Raut's ED custody in the Patra Chawl case till 8 August. The central agency arrested Raut on Sunday midnight in connection with alleged financial irregularities in the redevelopment of the chawl
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