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Passport Act May Get Amended to Prevent Wilful Defaulters from Fleeing
August 11, 2018
To prevent wilful defaulters from fleeing the country, an issue that was largely highlighted after prime alleged defaulter Mehul Choksi earned the citizenship of Antigua, the government is pondering over amending the Passport Act. Under this, wilful defaulters who have outstanding loans above Rs. 50 crores might be barred from travelling overseas without the government’s consent.
The government has set up a committee that’s looking into ways to prevent promoters from fleeing the country in a bid to dodge their financial obligations. It’s comprised of representations from the Enforcement Directorate, Reserve Bank of India (RBI), Central Bureau of Investigation (CBI), and Ministries of Home and External Affairs.
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