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Tackling corporate fraud

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Business Standard New Delhi
Last Updated : Jan 28 2013 | 2:33 AM IST
 On the one hand, the fine for irregularities will be increased drastically to make them equal to the amount defrauded, while on the other the National Law Tribunal will be armed with criminal jurisdiction, so that the judicial process is speeded up.

 The committee will also emphasise fines rather than prison sentences (a welcome de-criminalising of white collar offences), and it will focus on punishing the persons behind the crime, rather than hold a company responsible for the sins of its employees or agents.

 The committee

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First Published: Nov 07 2003 | 12:00 AM IST

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