Justice for these financial fugitives is very important. Mr. Vijay Mallya, Mr. Nirav Modi, and Mr. Lalit Modi are wonderful people but are now fugitives, having a wonderful time in different parts of the world. Once celebrated businesspeople, they now live abroad—mostly in England—to avoid being caught by laws for the financial fraud they committed in India. Their offenses are non-payment of the money they borrowed from various banks in India to run their businesses. Loans availed from banks and not repaid are a financial scam that deserves punishment.
Fugitives Lost Cases in Foreign Courts.
Now the country is finding it difficult to bring these financial fugitives back to India and make them face the laws of the land, despite having sent a battery of capable lawyers to argue the cases. Even after having won, India finds it difficult to extradite them; the fugitives live there. One feels wealth accesses many escape routes often denied to the ordinary. These gentlemen are using all those holes to their advantage. Needless to say, they are still living there and enjoying a fabulous time. India could not extradite them.
It is anybody’s guess if they would ever be brought to India to face justice. But they have businesses in India and elsewhere and must be running those from there through their confidants.
Wasting Money On These Financial Fugitives.
It can be argued that this process is a waste of time and money. This gives rise to other opinions. What good would it serve to keep them in prisons? Other than financial crimes, they have no other charges. While incarceration symbolizes justice and deterrence for the crimes committed, what good would it serve to keep them behind bars?
Why Behind Bars?
One school of thought is, why keep such persons behind bars? The idea may create controversy, but should justice mean incarceration only? Why not consider rehabilitation by asking them to repay the loans and to set up a business as penance for their prison term? Until a strong, decisive decision is made, these fugitives will not return, and the debate over how to bring financial fugitives to justice will continue.