Archive · 21 Jan 2026
Calcutta High Court Quashes LOC in Rs 3,897Cr Default Case
The Calcutta High Court has canceled a travel restriction order against a former company CEO who was accused of not paying back a huge loan of Rs 3,897 crore.
The court said that just because the loan amount is big doesn't mean the person should not be allowed to travel.
The court decided this after the person asked for help through a special request.
The order was made by a group that looks into serious financial crimes.
The Calcutta High Court quashed a look-out circular (LOC) against Sunil Kumar Agarwal, former CEO of a company.
Agarwal was accused in a case of loan default amounting to Rs 3,897 crore.
The court ruled that the mere quantum of default cannot justify restricting personal liberty to travel.
Justice Krishna Rao allowed a writ petition filed by Agarwal challenging the LOC issued by the SFIO.
The court referred to a previous verdict that supported its decision.
- Who
- Sunil Kumar Agarwal, former CEO of a company
- What
- Quashing of a look-out circular (LOC) issued against him
- When
- January 15
- Where
- Calcutta High Court
- Why
- The court ruled that the mere quantum of default cannot justify restricting personal liberty to travel
- Default Amount
- Rs 3,897 crore
- Petitioner
- Sunil Kumar Agarwal
- Issuing Authority
- Serious Fraud Investigation Office (SFIO)
- Court
- Calcutta High Court
- Date of Judgment
- January 15
- Justice
- Justice Krishna Rao
- Petition Type
- Writ petition
- Measure Quashed
- Look-out circular (LOC)