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Piercing through the Corporate Veil

Masoom Agrawal  & Vaidehi Pareek
School of Law, University of Petroleum and Energy Studies
Dehradun, Uttrakhand, India

Volume II – Issue II, 2019

“Corporate crime is a conduct of a corporation or of its employees acting on behalf of corporation, which is prescribed and punished by law”

– J. Braithwaite.

In the present era of economization, corporations play an omni-facet role in the society. Due to the emergence of large industrial corporations, the occurrence of criminal activities in the garb of corporate shield has increased many folds. The same has given rise to the need of lifting the corporate veil and pulling out the culprits who intend to harm not only the economy but also have serious intentions to damage the growth.

The challenge in this scenario for the law makers and enactors is to pace up with the crimes occurring in the digital era and analyze the problem that there is still no settled rule when it comes to CCI. With the change in times it is necessary to appreciate that the traditional view of the corporation not being guilty of crime has been proven wrong as in the modern era the corporation and the cunning brains behind it can certainly have the intention and complete the commission of crime too.

In this paper, the researchers aim to bring out how have the changes evolved from the traditional times to the modern frauds. The challenges and solutions regarding the same shall be highlighted. The researchers will also lay emphasis on the traditional and modern cases decided and evaluate as to whether past precedents are enough to address the modern technological corporate crimes. 

 

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