Open Access Research Article

ECONOMIC OFFENCES AS A FORM OF PRIVILEGED CLASS DEVIANCE: A CRITICAL STUDY OF CORPORATE AND FINANCIAL CRIMES IN INDIA

Author(s):
J. C. ANDREW SANJAI V. N. HARIHARAN S. ASIF.
Journal IJLRA
ISSN 2582-6433
Access Open Access
Volume 3
Issue 7
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Abstract

Economic offences in India, including corporate fraud, bank and loan fraud, securities manipulation, insider trading, tax evasion and money laundering, are usually discussed as failures of enforcement or as by-products of weak regulation. This article proposes a different reading. Drawing on Edwin Sutherland’s concept of white-collar crime and on the wider idea of privileged class deviance, it argues that a large share of India’s economic offending is committed by people of high social standing, in the course of legitimate business or professional roles, and is shielded by the very status, information and resources those roles provide. The article examines the nature of economic offences, the mechanics of corporate crime, the principal forms of financial wrongdoing, and the statutory and institutional framework built around them, including the Companies Act, 2013, the Prevention of Money Laundering Act, 2002, securities and banking laws, and agencies such as the SFIO, the Enforcement Directorate, SEBI and the RBI. It then reviews the approach of the Supreme Court to bail, investigation, and corporate and individual liability. The analysis suggests that India’s difficulty is less an absence of law than an accountability gap produced by informational asymmetry, concentrated economic and political power, regulatory capture, and slow and complex investigation and trial. The article closes with reform proposals aimed at narrowing this gap without sacrificing fairness to the accused.

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Author Details

Authors: J. C. ANDREW SANJAI, V. N. HARIHARAN & S. ASIF.Registration ID: 1013452 | Published Paper ID: IJLRA13452, IJLRA13453 & IJLRA13454Approved ISSN: 2582-6433 | Country: Delhi, IndiaPage No.: 2296-2326

Article Information

ECONOMIC OFFENCES AS A FORM OF PRIVILEGED CLASS DEVIANCE: A CRITICAL STUDY OF CORPORATE AND FINANCIAL CRIMES IN INDIA

Authors: J. C. ANDREW SANJAI, V. N. HARIHARAN, S. ASIF.

  • Journal IJLRA
  • ISSN 2582-6433
  • Volume 3
  • Issue 7
Citation Download Paper Full Details Search on Google Search on Google Scholar

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International Journal for Legal Research and Analysis

  • AbbreviationIJLRA
  • ISSN2582-6433
  • AccessOpen Access
  • LicenseCC 4.0

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