Vikas Agarwal v. Bureau of Immigration & Ors.
Case brief
What is this about?
This order sets aside a Look Out Circular (LOC) issued by the Bureau of Immigration at the instance of Punjab National Bank against the petitioner, a former director of Visa Power Limited. The Court held that the mere inability of a borrower company to repay loans does not justify restricting a director's fundamental right to travel under Article 21. Emphasizing that the petitioner was not a guarantor and no criminal proceedings subsisted against him, the Court declined to place the burden on immediate wrongful collection. The LOC was quashed as being unfounded and lacking cogent grounds.
What did the court decide?
The Look Out Circular issued against the petitioner is set aside. The Registrar is directed to release the security deposit of INR 5 crores furnished by the petitioner. The petition is disposed of.