New proposed bill asks bankrupt people to stay away from contesting elections
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Until now, there was no rule of barring bankrupts from contesting elections, which is why the Ethics Committee of Parliament had to especially recommend the disqualification of absconding liquor baron Vijay Mallya from Rajya Sabha. However, keeping this in mind, there might come a new law to automatically disqualify a bankrupt person from becoming even a lawmaker.The
Also read: 'Forcing Vijay Mallya to come back to India is bad strategy' 'Forcing Vijay Mallya to come back to India is bad strategy'
Mallya, who emerged as one of the most prominent loan defaulters in India, has fled the country and said that he won’t return to India amidst these conditions.
The past few years have seen many businessmen coming to the Parliament and state assemblies, and some of them also have a chequered loan repayment record. This is why the committee has recommended that people who have been declared bankrupt could also not be able to become public servants or being appointed as a trustee for a trust, estate or settlement.
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