CRIMINAL VICARIOUS LIABILITY OF CORPORATIONS: A PRAGMATIC VIEW IN LIGHT OF THE CORPORATE FRAUDS

Best Citation – Nidhi Nande, CRIMINAL VICARIOUS LIABILITY OF CORPORATIONS: A PRAGMATIC VIEW IN LIGHT OF THE CORPORATE FRAUDS, 2 IJLR 15 (2021)

Abstract

We live in a society that is governed by interaction between various laws and rules. One of the major controversies from the interaction between two laws that has emerged from time immemorial but still remains disputed is the principle of Criminal Vicarious Liability’s application to the company law. With all the differences in the opinions of jurists and scholars, the author in this paper aims to analyze the principle of Criminal Vicarious Liability for corporations from a pragmatic view considering the growing number of corporate frauds and the issue of fixing the liabilities in such instances. The paper also analyzes the concept from a global perspective by doing a benefit analysis of foreign models to the Indian scenario. Another part of the paper deals with an empirical research based on a survey from various professionals regarding the state of law in practical scenario. The main question that the paper aims to analyze is the cases of implementing vicarious criminal liability to corporations and how have the famous corporate frauds helped evolving the clear concept of vicarious liability for corporations.

Keywords- Corporations, Vicarious Liability, Corporate Criminal Liability, Corporate Frauds