Corporate Governance Failures in India

  • Vivek Malhotra and Rohan Aniraj
  • Show Author Details
  • Vivek Malhotra

    Student at KIIT Law School, Bhubaneswar, India

  • Rohan Aniraj

    Student at KIIT Law School, Bhubaneswar, India

  • img Download Full Paper

Abstract

This research paper is solely based on the analysis of Sahara India, Kingfisher Airlines and PNB-Nirav Modi case. “Corruption in civilized society is disease like cancer which is not detected in time is sure to spread its malignance among the polity of the country leading to disastrous consequences”. Corruption is exact opposite to democracy as well as social order. The detection of corruption and fraud has become a huge problem. This phenomenon is not limited to a particular area, city, or country. It is all over the world. The word fraud is defined under Section 17 of the Indian Contract Act, 1872 and Forgery is stated under Section 163 of the Indian Penal Code, 1860.The purpose of this study is get rid from fraud and corruption committed by the criminals, outsiders -customers and employees of the banks and financial institutions and other Central, state and local bodies, private and public sectors.” “The reason behind fraud in India has been unknown. Similar fraud keeps happening year after year where sum of money lump are involved. The financially weak sector of our country suffers the most. This paper highlights the major accounting frauds over the past years and provides the analysis and the cause for such fraudulent activities.”

Type

Research Paper

Information

International Journal of Law Management and Humanities, Volume 4, Issue 3, Page 4176 - 4193

DOI: https://doij.org/10.10000/IJLMH.11979

Creative Commons

This is an Open Access article, distributed under the terms of the Creative Commons Attribution -NonCommercial 4.0 International (CC BY-NC 4.0) (https://creativecommons.org/licenses/by-nc/4.0/), which permits remixing, adapting, and building upon the work for non-commercial use, provided the original work is properly cited.

Copyright

Copyright © IJLMH 2021