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Bimonthly Since 1986 |
ISSN 1004-9037
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Publication Details |
Edited by: Editorial Board of Journal of Data Acquisition and Processing
P.O. Box 2704, Beijing 100190, P.R. China
Sponsored by: Institute of Computing Technology, CAS & China Computer Federation
Undertaken by: Institute of Computing Technology, CAS
Published by: SCIENCE PRESS, BEIJING, CHINA
Distributed by:
China: All Local Post Offices
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05 July-September 2023, Volume 38 Issue 4
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Abstract
The paper will showcase India’s lack of civil enforcement against corporate corruption. The paper identifies the victims of corporate corruption and suggests the remedies that can be adopted for the victims’ restitution. Civil enforcement is essential to restore the damages incurred by the victims due to acts of corruption. However, Indian legislation only provides criminal remedies against corruption, often failing to act as an effective deterrent. The paper attempts to understand the concept of civil enforcement in the USA’s FCPA and how it has effectively acted against corrupt practices by foreign companies in India. The primary focus of the paper is to present examples of corruption wherein the Indian legislation has been unable to prevent or prosecute the acts, whereas a foreign jurisdiction has ensured the companies who have committed such offenses are optimally reprimanded. The research showcases the lacunae in the Indian legislation and how it hurts the economy and competition in the country. The paper also briefly delves into the provisions of Indian legislation used to combat corruption. The paper attempts to contribute insight and advice to policymakers to adopt measures of civil enforcement to combat corporate corruption in India.
Keyword
Corruption, Civil Enforcement, remedy, victim, FCPA
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