On August 16, 2012, the Securities and Exchange Commission filed a Complaint against Oracle Corporation for alleged FCPA violations stemming from actions by the software giant’s Indian subsidiary, and Oracle has agreed to pay $2 million to settle the matter. According to the SEC’s Complaint (which can be found here), from 2005 to 2007, certain… Continue Reading
Category Archives: India
Subscribe to India RSS FeedAviation Corruption
Posted in Aviation, IndiaThe aviation industry appears to be particularly prone to bribery and corruption which can be a typical characteristic of an industry that is subject to multiple layers of regulation. This is especially true in India where bureaucracy and red tape is widely encountered by the consumer. The Business Standard reports that, on the basis of… Continue Reading
Corruption-Fighting Ethos
Posted in IndiaHaving generated much controversy and triggered furious hunger strikes, The National reports that a revised Lokpal Bill is likely to be introduced into the Indian Parliament in November. Dr Veerappa Moily, the Union Minister for Corporate Affairs, took the opportunity to address the Indian Business Professional Council in Dubai and, whilst conceding that there was a… Continue Reading
Indian Anticorruption Ombudsman
Posted in IndiaThe Lokpal Bill, 2011 (PDF/541KB/40 pages), has today been introduced to the Lok Sabha (House of the People), the lower house of the Parliament of India. Its remit is to develop effective anti-corruption and grievance redressal systems so that an effective deterrent is created against corruption and to provide effective protection to whistleblowers. At its centre is the office… Continue Reading
Drink to This: Diageo Settles FCPA Administrative Enforcement Action
Posted in Commercial Bribery, Foreign Corrupt Practices Act, India, South Korea, ThailandLondon-based Diageo, the maker of popular liquor brands such as Johnnie Walker scotch and Smirnoff vodka, has agreed to pay more than $16 million to settle an administrative action brought by the Securities and Exchange Commission (“SEC”) for violations of the books and records and internal control provisions of the FCPA. Conduct From 2003 to… Continue Reading
Food for Thought
Posted in IndiaIndia is no stranger to hunger strikes being used as a form of non-violent resistance. Perhaps the most famous example of this is that of Gandhi during his protest against British rule in India. More recently, as reported by The Telegraph, we see fasting being used by the Indian yoga guru, Swami Ramdev, to object… Continue Reading
Vigilance at its best?
Posted in IndiaEarlier this month, the BBC reported that an Indian government appointee had resigned due to allegations of corruption. The cynics among us would not necessarily have batted an eyelid, but what made me take particular notice on this occasion was the fact that the person in question, Shri P J Thomas, was the head of the… Continue Reading