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Corporate Accountability in India: Navigating the Overlap Between Civil and Criminal Liability in the Post-Satyam era
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Sapna Kumari
Student at Chanakya National Law University, India
Abstract
This paper critically examines the overlapping domains of civil and criminal liability in Indian corporate law; corporate governance failures refer to ongoing governance failures such as the Satyam Scam compelled India to re-examine its legal response to corporate misconduct. Drawing from statutory frameworks such as the Companies Act, 2013, the SEBI Act, 1992, the Prevention of Money Laundering Act (PMLA), and relevant provisions of the Indian Penal Code (IPC), this study explores the legal and ethical dilemmas that arise from prosecuting artificial legal entities and their human agents. The study delves into the of post- Satyam reforms and recent regulatory enforcement trends in achieving a balance among the principles of deterrence, due process, and economic efficiency. Employing a combination of doctrinal analysis and case-based inquiry, this paper presents a harmonized accountability framework that upholds justice while preserving corporate innovation and autonomy.
Keywords
- Corporate Accountability
- White- Collar crime
- Companies act 2013
- Satyam Scandal
- post satyam legal reforms
- civil v criminal liability
Type
Research Paper
Information
International Journal of Law Management and Humanities, Volume 8, Issue 3, Page 3902 - 3909
DOI: https://doij.org/10.10000/IJLMH.1110297Creative Commons
This is an Open Access article, distributed under the terms of the Creative Commons Attribution -NonCommercial 4.0 International (CC BY-NC 4.0) (https://creativecommons.org/licenses/by-nc/4.0/), which permits remixing, adapting, and building upon the work for non-commercial use, provided the original work is properly cited.
Copyright
Copyright © IJLMH 2021