Constitution of India, 1950
Article 226 & 227 read with Section 482 of CrPC—Writ—Petition seeking withdrawal/recall of Look-Out-Circular if any, issued by respondents and to allow the petitioner to travel abroad—Petitioner’s involvement essentially is that he was an employee holding the designation of Director (Marketing) and was apparently nowhere involved in the transaction pertaining to the Consortium Banking Arrangement which were secured by way of pari-passu hypothecation charge over the current assets/moveable property of the Company—Petitioner is willing to join investigation, if any, and is not evading the process of law as he is gainfully employed as Country Sales Head of the another company and there is no likelihood of the petitioner leaving the country to evade trial—None of grounds for continuing the LOC continue to exist—Lookout Circular issued against petitioner is quashed—Petition allowed.
[Paras 29 to 34]