Can’t let eco fugitives off-hook on repay offer: GoI

New Delhi: The government of India has made it clear that economic fugitives would not be let off-hook on repay offers.

On Tuesday, a Supreme Court bench of Justices Sanjay K Kaul and MM Sundresh had instructed the Centre to consider permitting fugitives to return again to India and staying legal proceedings if they’re agreeable to pay up their defaulted quantities to banks.

SC  was hearing a plea by Hemant S Hathi, who is needed together with promoters Sandsaras within the Sterling Biotech case involving alleged swindling of Rs14500 crore from banks. Hathi had agreed to pay again around Rs900 crore due from him in lieu of a clean chit.

The SC had advised the Centre, “You are chasing many people around the world but you have not been able to get anything. Here he (Hathi) is offering to refund the money. So some criminal proceedings can be stayed and allow them to come back.”

The CBI stated, “In respect of serious offenses under special statutes, like the Prevention of Corruption Act, the settlement between the offender and the victim can have no legal sanction at all.”

Image courtesy of (Image Courtesy: Bisbo English)

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