• Debabrata Roy

The issue of the fugitive offenders have always been a vexed issues for last 4 to 5 decades in many forms which have been the hiccups for each governments and accordingly Modi Govt is not alone the exception but what could have been done to arrest these meance ironically had not been done in due course due to the poor introspection & long term policies which were absent. Neither the RBI nor the erstwhile Planning commission of India formulated any long term policy to revive and save the economy of India from these Vijay Malliya, Nirav Modi or Mehul Chokoshi who fled away easily from the country due to proper arrangement of poor financial safety nets. Thus the mud slinging were started to each other to fool the common public. The big game started from 2010 through well designed formula and planning during UPA regime and Modi Govt is not solely responsible for this huge financial loss as it has depicted by different TV channels to malign the present central government. RBI should have jumped into the financial jiggle at least 20 years back to rescue the tax payers money with well designed plan and policies. The present feeble financial scenario and situation is not impacting India's financial market but also raised the doubt and question the credibility of each government over the controlling system of various listed PSU Banks .The problems has not been suddenly cropped up in India but these willful practices were adopted by various firms in the various forms which started its ponzy businesses from time immemorial. The nature was the same shape was different in each decade but the government could not set its directions. In India almost every government has faced the issues from time to time but was not in the prime news for larger times due to involvement of less money. Several governments had received the tremendous jolts but due to ongoing electioneering process the government either digested the entire issues with recapitalization of Banks or concealed these facts at cost of election winning method ignoring solely the interests of common people. Now the time has come to diagnose the problems with different parameters with long lasting surveillance nets. It is worth to mention here that due to these fugitive offenders originated from India in recent days, India not only earned the ill reputation in global financial environments but also shown its sheer weakness in handling the core financial issues aptly and at the same time could not throw its safety nets to catch theses big fishes before fleeing from India simultaneously could not save the tax payers money from these hands of these financial sharks. No constructive debates or seminar have been organized by either from the government or RBI or Planning Commission of India to tackle these menaces. Lot of comments are still pouring in to address these issues but still remained a matter of great concern with big loopholes. That is why here are some prudent suggestions which scrupulously articulated to prevent these issues are narrated below. 1. While sanctioning the big Bank loans by any BANK or NBFC (above Rs 50,00,000/- ) for any purpose, that must be noted down or linked with the Passport no, PAN no and Aadhar number by the Bank of the said loanee, where his/her loan account are being maintained by the Bank with NBFC with CIBIL data systems. That information should be readily made available for further verification and in case of any need perceived by the Ministry of Exrternal Affairs while issuing the VISA p.o. New Passport . 2. Before issue of VISA or New Passport the department must have the facilities to examine the CIBIL data system of the Banks through online or any dependable Network system to ensure that he is not a willful defaulter or have the enough scope to review his/her loan recovery history and to check out further so that the offenders are not trying to fly out from India in any such case. If any such case found that case should be immediately registered or referred to RBI, ED, and CBI for further verification to detain the offenders for further investigation. 3. Confiscation of wives Passport can also be had if there is a chance of money laundering through wives. Even in worst case the offenders Air tickets for abroad can also be cancelled by the authorities if there is sufficient doubts to thwart the movement. This Air reservations net work/information should always be linked or be made readily available to CBI ,ED with the help of Passport or Pan no which can be easily be traceable to stop the abroad journey under suspicion. Last but not least all big loan takers identification through their Passport no should be linked with same platform which can simultaneously be monitored by all the three major institutions like RBI, ED & CBI with the same networks/ system or platform which will be proven very much worthy. Then the government will be definitely able to strike down these menaces. Conceived and written by- Debabrata Roy , Principal, Government Degree College, Teliamura, Tripura. M 9436450869,7005633860 Email- somasaha.ss11@gmail.com

Fugitive financial offenders. Prevention.

"Fugitive financial offenders, Hiccups for Government. Suggestions to present government to Check and Prevention.", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.6, Issue 2, page no.164-165, February-2019, Available :http://www.jetir.org/papers/JETIR1902125.pdf

"Fugitive financial offenders, Hiccups for Government. Suggestions to present government to Check and Prevention.", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.6, Issue 2, page no. pp164-165, February-2019, Available at : http://www.jetir.org/papers/JETIR1902125.pdf