https://www.taxtmi.com/caselaws?id=430734 The court dismissed the petition seeking suspension of the Look Out Circular (LOC) for travel abroad due to allegations of bank fraud, siphoning of funds, and creation of foreign assets. The petitioner, under investigation for fraud and non-cooperation, was found to pose a flight risk and potential threat to national interests. The court upheld the LOC issuance, considering the seriousness of the allegations, ongoing investigations under the Black Money Act, 2015, and the petitioner's lack of cooperation, emphasizing the need to safeguard national interests and financial integrity. en-us Thu, 24 Nov 2022 00:00:00 +0530 Sat, 26 Nov 2022 09:00:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=430734 The court dismissed the petition seeking suspension of the Look Out Circular (LOC) for travel abroad due to allegations of bank fraud, siphoning of funds, and creation of foreign assets. The petitioner, under investigation for fraud and non-cooperation, was found to pose a flight risk and potential threat to national interests. The court upheld the LOC issuance, considering the seriousness of the allegations, ongoing investigations under the Black Money Act, 2015, and the petitioner's lack of cooperation, emphasizing the need to safeguard national interests and financial integrity. Case-Laws Companies Law Thu, 24 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=430734