Consider allowing fugitives to come to India and stop criminal proceedings if they are agreeable to pay the money, suggested the Supreme Court on Tuesday. This comes as the CBI and the Enforcement Directorate has spent years chasing several fugitive businessmen across the world to bring them back to face criminal prosecution for fraud and swindling thousands of crores of public money taken through bank loans.
A bench of Justices Sanjay Kishan Kaul and MM Sundresh said many years would be spent in legal proceedings and the agencies may or may not be successful in their pursuit to bring back the fugitive businessmen and in that scenario, the government can consider granting protection to them if they agree to refund the money and they be not arrested on returning back to the country.
As per a report by The Times of India, this suggestion by the apex court came while hearing a plea of Hemant S Hathi who is wanted along with promoters of Sterling Group for allegedly swindling Rs 14,500 crore via bank loans.
Hathi has expressed his willingness to refund the money but sought protection from being prosecuted and harassed by the agency on coming back. As per the TOI report, he stated that the total amount to be due from him is a little over Rs 1,500-odd crore, out of which Rs 600 crore have been repaid to banks, and assured to refund the outstanding amount of Rs 900 crore. The bench also favoured that the amount be accepted by the government.
Supporting Hathi’s decision, additional solicitor general SV Raju appearing for CBI, said he will not arrest if he returns and expressed his reservation in putting an end to the criminal proceedings against him.
The SC said the government should consider granting him relief on three fronts if he comes back and pays the money — the pending criminal proceedings should be quashed, he should be allowed to travel around the country to pursue his business and no coercive action be taken against him in a criminal case.
So far, all fugitives accused in fraud including Vijay Mallya, Nirav Modi are living in abroad. Indian agencies have been trying to get them back but they haven’t been successful so far.
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