Abstract

In the light of rapid capitalism, the modern era companies are often found dirtying their hands in the race for profit and competition. This furious yet determined attitude of the firms often gives rise to civil and criminal liability either due to the company's lack of reasonable foresight or negligence to follow the standards set by the respective regulatory mechanism. The failure to follow such regulatory measures coupled with negligence gives rise to liability. This paper will examine the extent of this liability under the current Indian law and will attempt to assess the body of law with an eye to possible reform proposals. Two basic themes will be apparent throughout; first, the criminality behind corporate criminal liability and need for a flexible means of regulating the activity of corporations, given the diversity of uses to which the corporate form may be put and the ubiquity of corporations in the commercial life of our society; and second while criminal law can provide such a regulatory device, the conceptual framework upon which it is based is one of the individuals personal fault. The paper aims to analyze Corporate Criminal Liability with a significant emphasis on relevant criminological theories.

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