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7 Indian J.L. & Just. 77 (2016)
Prevention of Corporate Corruption in India: Judicial Response and the Rule of Law - A Critical Analysis

handle is hein.journals/ijlj7 and id is 83 raw text is: PREVENTION OF CORPORATE CORRUPTION IN INDIA: JUDICIAL RESPONSE AND THE RULE OF LAW- A CRITICAL ANALYSIS Dr Narender NagarwalI and Anit Kumar2 I. Introduction Corporate corruption is a global phenomenon and it is omnipresent. Throughout the world the news related with scams, financial scandals and embezzlements in millions and billions by the corporate sectors and industrial houses have been getting space routinely in both print and electronic media. In infamous Neera Radia tape case the Hon'ble Supreme Court of India expressed its deep anguish about the rising graph of corruption cases in following words, not only are we talking about pollution of the Ganga for the past 28-30 years... this pollution (corruption) is mind-boggling. 4 Despite many conclusive findings of enormous corporate corruption we should not forget the corporate sector's contribution in the economic growth. The corporate sector provides employment, infrastructure and upgrading physical connectivity and provides better roads, basic amenities and ensures standard facilities to the people. It plays a key role in nation's economic growth but due to the numerous instances of scams and financial scandals, the progress and growth forced to stall. It is well known fact that corporate corruption has permeated in every sphere of activity. It poses dire threats to the social, economic and political fabric of the economy.5 It is an insidious plague that has a wide range of corrosive effects on society. It undermines economic interest and the rule of law of the country, also leads to violation of human rights, distorts markets, erodes the quality of life and it allow organized crime, terrorism and other threats to human security to flourish.6 In Delhi Development Authority v. Skipper 1 Assistant Professor (Law), Department of Law, University of North Bengal, Darjeeling (West Bengal) 2 LL.M (final year), Department of Law, University of North Bengal, Darjeeling 734013 (West Bengal). 3 Prafulla Kumar Nayak, Combating Corruption in India- The Role of Civil Society, Criminal Law Journal, Vol-1 18, Part 1355, Nov, 2012, p. 305. 4 Center for Public Interest Litigation v. Union of India, AIR 2010 SC 415 5 Malathy Duraisamy and P. Duraisamy, Causes and Consequences of Corruption in India in Dr. A. Ranga Reddy (Ed.), Dimensions of Crime and Corruption in India, Serial Publication, New Delhi, 1st Edn., 2005, p. 401. 6 Dr. Subodh K. Singh, Corruption: A Menace in India, Criminal Law Journal, Vol-118 Part 1348 April, 2012, p. 103.

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