Business

Loan Defaulters Will Now Be Turned Back At The Immigration Counter

The government is also considering to draft a new law to confiscate assets of those who get away with unpaid liabilities of over Rs 100 crore

Loan Defaulters Will Now Be Turned Back At The Immigration Counter
info_icon

The Ministry of Home Affairs has asked the Bureau of Immigration to not allow loan defaulters to leave the country after economic offenders바카라 웹사이트such as바카라 웹사이트Nirav Modi, Mehul Choksi and Vijay Mallya바카라 웹사이트flew the coop.

The Indian Express바카라 웹사이트on Thursday바카라 웹사이트that the directive came after Reserve Bank of India (RBI) submitted a list of defaulters to the ministry바카라 웹사이트seeking their바카라 웹사이트passport details.

According to바카라 웹사이트the바카라 웹사이트new rule, the persons on the list will not be allowed to pass through the emigration check point. However, no arrests will be made, said the report quoting official sources.

The report further added that exceptions can be made only when the individual submits court order permitting them to travel abroad for a "specific reason".

Default means non-payment of a loan availed by a borrower바카라 웹사이트is an entity or a person that has not paid the loan back despite the ability to repay it.

According to data with the Credit Information Bureau of India Ltd, state-owned banks reported wilful defaults of Rs 93,357 crore involving 7,564 borrowers as of September 2017.

Nirav Modi and Mehul Choksi라이브 바카라 escape had embarrassed the Modi government.바카라 웹사이트One of the major polls planks of the BJP라이브 바카라 during Lok Sabha campaign was the appointment of a Lokpal.바카라 웹사이트 Though the Lokpal Bill was enacted바카라 웹사이트 in 2014,바카라 웹사이트 still the government바카라 웹사이트has not been able바카라 웹사이트to appoint a Lokpal.바카라 웹사이트

The government is also considering to draft a new law to confiscate assets of those who get away with unpaid liabilities of over Rs 100 crore,바카라 웹사이트TheTimes Of India.바카라 웹사이트The Cabinet may also consider a revamp of the regulatory regime for chartered accountants.

The government and country's premiere investigating agency CBI was on Wednesday left red-faced when diamantaire Nirav Modi, who is at the center of PNB scam, refused to join the investigation.

Modi was asked to appear before the agency in connection with its probe in the over USD two billion alleged fraud perpetrated in the PNB. He was summoned through email but he refused to join the investigation saying he has "business abroad", the officials told바카라 웹사이트PTI.

CLOSE