https://www.taxtmi.com/caselaws?id=313972 Delhi HC allowed writ petition challenging Look Out Circular (LOC) against petitioner. Court held LOC issuance was excessive and without merit as petitioner was not declared proclaimed offender nor evading Indian court proceedings. Petitioner and company were already adjudged bankrupt by Hong Kong HC, with creditors appointing trustees. Respondent bank had participated in Hong Kong winding up proceedings which reached logical conclusion. Court emphasized LOC significantly impedes travel abroad, which is fundamental right under Article 21. No exceptional circumstances affecting India's economic interests existed to justify LOC against Indian citizen. en-us Wed, 16 Aug 2023 00:00:00 +0530 Fri, 10 May 2024 06:55:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=313972 Delhi HC allowed writ petition challenging Look Out Circular (LOC) against petitioner. Court held LOC issuance was excessive and without merit as petitioner was not declared proclaimed offender nor evading Indian court proceedings. Petitioner and company were already adjudged bankrupt by Hong Kong HC, with creditors appointing trustees. Respondent bank had participated in Hong Kong winding up proceedings which reached logical conclusion. Court emphasized LOC significantly impedes travel abroad, which is fundamental right under Article 21. No exceptional circumstances affecting India's economic interests existed to justify LOC against Indian citizen. Case-Laws Indian Laws Wed, 16 Aug 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=313972