Look-Out Circulars must rest on disclosed original grounds; later-added reasons cannot validate an unsustainable travel restriction.

A Look-Out Circular must be justified by the reasons disclosed in the original request and the circular itself, and it cannot be sustained on new grounds introduced later. Here, the only stated basis was the individual's alleged directorship in the borrower-company, but the materials showed he had resigned before the fraud was detected, and no specific material established any ground under the governing office memorandum, including any economic-interest concern. The later assertion that he was also a guarantor could not cure the defect because it was not part of the original basis for issuance. The stated travel restriction was therefore unsustainable and liable to be quashed.

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Issues: Whether the Look-Out Circular and its renewal could be sustained when the only ground stated in the request and in the circular was the petitioner's alleged directorship in the borrower-company, with no disclosed material bringing the case within the governing office memorandum.

Analysis: The disclosed basis for the Look-Out Circular was the petitioner's alleged directorship in the company, stated in the present tense, although the materials showed that he had resigned long before the alleged fraud was detected. The allegation that he was also a guarantor was not part of the original request or the circular and could not be introduced later as a post facto reason. No specific material was produced to show that any ground under the applicable office memorandum, including any economic-interest concern, actually existed. The bank's recovery rights were also independently secured by the DRT award and the attachment order under the PMLA, and the petitioner's overseas travel was integral to his livelihood as a merchant navy captain.

Conclusion: The Look-Out Circular and its renewal were unsustainable and liable to be quashed.

Final Conclusion: The impugned travel restriction was set aside because the stated grounds did not justify issuance or continuation of the Look-Out Circular and later explanations could not cure that defect.

Ratio Decidendi: A Look-Out Circular must stand or fall on the reasons disclosed in the original request and circular, and it cannot be validated by new grounds added later if those grounds were not part of the original basis for issuance.

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