FINANCIAL CRIMES: DISTURBING THE EASE OF DOING BUSINESS IN INDIA

This paper tries to highlight the effect of different financial crimes on the ease of doing business in India with the help of statistics provided by recognized databases. The paper also delves deeper into the impediments faced by businesses in functioning smoothly which arise due to incidents of financial crimes in India such as the Satyam scam and the Punjab National Bank fraud case. These cases along with a few others have been discussed at length to bring to the light the lacunae in the present system and to show that the aftermath of the regulation introduced due to an upsurge in the financial crimes further restricts the ease of doing business in India. The paper also tries to extract evidences from instances occurring abroad so as to prove the generality of the offences and the consequences which remain the same across the globe. Attempts have been made to provide suggestions to deter the incidents of financial crimes and to strengthen the regulations. The primary aim of the paper is to provide for affirmative action to the businesses against such crimes, thereby bridging the gap between the regulations brought and the ease of doing business.

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Rajiv Gandhi National University of Law, Punjab

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 ISSN(O): 2347-3827

© Rajiv Gandhi National University of Law Punjab, 2020