LEGAL ASPECTS OF CORPORATE FRAUD IN WHITE COLLAR CRIMES IN INDIA
AUTHOR – NANDINI AGARWAL, STUDENT AMITY UNIVERSITY GURUGRAM, HARYANA
BEST CITATION – NANDINI AGARWAL, LEGAL ASPECTS OF CORPORATE FRAUD IN WHITE COLLAR CRIMES IN INDIA, INDIAN JOURNAL OF LEGAL REVIEW (IJLR), 4 (2) OF 2024, PG. 728-739, APIS – 3920 – 0001 & ISSN – 2583-2344.
ABSTRACT
The object of this research paper is to conduct a thorough disquisition and analysis of the commercial fraud and white- collar crime in India. The paper aims to give a comprehensive understanding of the various aspects of these fiscal crimes, including their types, prevalence, nonsupervisory framework, challenges faced by law enforcement agencies, and their profitable and societal impacts. Through the examination of applicable case studies, legal fabrics, and real- world exemplifications, this exploration seeks to offer precious perceptivity into the current state of commercial fraud in the Indian environment and its impact on the frugality and society. The ultimate goal of this research paper is to contribute to a better understanding of the issues surrounding commercial fraud and to guide policymakers, businesses, and law enforcement agencies in their efforts to combat these crimes and insure a more transparent and secure commercial terrain in India. By achieving a deeper understanding of the challenges and openings in this area, the research aims to give precious recommendations for the development of further effective strategies and countermeasures to combat commercial fraud in India. The ambit of this research paper encompasses several crucial areas related to commercial fraud and white- collar crime in the Indian environment. The paper explores the various forms of commercial fraud, including but not limited to embezzlement, insider trading, accounting fraud, bribery, and money laundering. It examines the prevalence of these crimes within Indian corporations. The research analyzes the legal and regulatory frame governing commercial fraud and white- collar crime in India. It assesses the strengths and shortcomings of the regulatory environment. The paper delves into the challenges faced by law enforcement agencies in detecting, probing, and executing white- collar culprits. It considers factors similar as the complexity of financial crimes and the hurdles in substantiation gathering. The research evaluates the consequences of commercial fraud and white- collar crime on India’s frugality and society. The paper offers recommendations and countermeasures to address the linked challenges and alleviate the threat of commercial fraud in India. It emphasizes advancements in commercial governance, regulatory advancements, and the significance of investor education. By addressing these crucial areas, the research paper aims to give a comprehensive overview of commercial fraud and white- collar crime in India, offering precious perceptivity for stakeholders to enhance translucency, responsibility, and trust in the commercial sector within the country.
Keywords: Corporate Fraud, Money Laundering, Financial scams, Challenges and Counter measures.