Panel to tweak norms to stop defaulters

The Asian Age
July 18, 2018


Besides, senior officials of Ministry of Home Affairs and Ministry of External Affairs are also part of the committee.

In an attempt to stop defaulting promoters from fleeing the country, the government has set up a high-level committee headed by financial services secretary Rajiv Kumar to look at various measures and suggest changes in existing laws, according to official sources.

The focus will be on those promoters who hold citizenship of any other country so that episodes of Nirav Modi, Mehul Choksi and Vijay Mallya are not repeated.

The panel had its first meeting which discussed dual citizenship and strengthening and streamlining of system so that economic offenders do not run away from the country, sources said.

Other members of the high-level panel include representatives from the Enforcement Directorate, CBI, Intelligence Bureau, and RBI.

Besides, senior officials of Ministry of Home Affairs and Ministry of External Affairs are also part of the committee.  

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