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Law Agencies Want Banks to Issue Alerts on Defaulters in Advance
November 08, 2018
Learning lessons from defaulter tycoons like Mehul Choksi, Vijay Mallya, etc. who fled the country to escape from their debt repayment obligations, law enforcement agencies are looking to create a system in which the banks can send alerts on suspicious offenders in advance.
For instance, they can issue look-out circulars for certain individuals so that they don’t flee from the country before any action can be taken against them.
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