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2022 (6) TMI 590 - HC - Insolvency and BankruptcyImposition of travel ban on the petitioner - violation of Article 21 of the Constitution - contention of the petitioner was that as the entire loan amount was covered under the resolution plan, the petitioner was in no manner connected with the company - HELD THAT:- As per the Office Memorandum dt. 12.10.2018, the conspectus of the issuance of the LOC was broadened to include the economic offenders hampering the interests of India and as such, a lookout circular can be issued in larger public interest. As the respondent Bank initiated recovery proceedings against the petitioner and if lookout circular is lifted and if the petitioner disappears, the recovery proceedings would be brought to standstill and recovery of crores of public money would become impossible. Hence, it is considered fit to dismiss the petition. Writ petition dismissed.
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