Kopal Tewari, Rajiv Gandhi National University of Law
INTRODUCTION
Corporate corruption in India is a multifaceted issue that has garnered attention due to its widespread implications for society and the economy. The scope of corporate corruption encompasses various unethical practices within businesses, such as bribery, fraud, embezzlement, and other forms of misconduct. This phenomenon has witnessed growth over the years, posing challenges to the nation's business environment and overall governance.
The scope of corporate corruption extends across different sectors, including finance, manufacturing, healthcare, and infrastructure. Factors contributing to its growth include weak regulatory frameworks, lack of transparency, and a culture that may at times tolerate or overlook unethical practices. Instances of corporate corruption have the potential to erode public trust, hinder economic growth, and create an uneven playing field for businesses. From bribery and embezzlement to fraud and money laundering, corrupt practices permeate different levels of the corporate hierarchy. The roots of corruption often extend to the nexus between businesses, politicians, and regulatory authorities, creating a web of unethical behavior that undermines the integrity of the corporate sector.
The growth of corporate corruption in India can be traced to a combination of systemic flaws, weak regulatory frameworks, and a culture that, at times, tolerates unethical practices. Inadequate enforcement of laws, lack of transparency, and a slow judicial process contribute to the proliferation of corrupt activities. The growth of the digital economy has also introduced new avenues for corruption, with cybercrimes and financial fraud becoming increasingly prevalent.
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