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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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