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  Business   In Other News  18 Jul 2018  Panel to tweak norms to stop defaulters

Panel to tweak norms to stop defaulters

PTI
Published : Jul 18, 2018, 5:40 am IST
Updated : Jul 18, 2018, 5:40 am IST

Besides, senior officials of Ministry of Home Affairs and Ministry of External Affairs are also part of the committee.

Vijay Mallya
 Vijay Mallya

New Delhi: In an attempt to stop defaulting promoters from fleeing the country, the government has set up a high-level committee headed by financial services secretary Rajiv Kumar to look at various measures and suggest changes in existing laws, according to official sources.

The focus will be on those promoters who hold citizenship of any other country so that episodes of Nirav Modi, Mehul Choksi and Vijay Mallya are not repeated.

The panel had its first meeting which discussed dual citizenship and strengthening and streamlining of system so that economic offenders do not run away from the country, sources said.

Other members of the high-level panel include representatives from the Enforcement Directorate, CBI, Intelligence Bureau, and RBI.

Besides, senior officials of Ministry of Home Affairs and Ministry of External Affairs are also part of the committee.  

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Tags: external affairs, intelligence bureau