Whistleblowing: Indian Paradigm and Blemishes

XI Capital Markets Conference, 21-22 December 2012, Indian Institute of Capital Markets (UTIICM)

10 Pages Posted: 2 May 2013

See all articles by Rajasree Varma

Rajasree Varma

Hidayatullah National Law University

Date Written: December 21, 2012

Abstract

A whistleblower is defined as someone who divulges wrongdoing, fraud, corruption or mismanagement. Mostly the person could be an employee because he is the person who becomes adept in about the corruption or frauds which takes place inside a company or organisation. However since all organisations restricts publishing institutional information, the whistleblower often faces retaliation like dismissal from employment and even physical harm.

Satyam scam opened the eyes of authorities and drafted Companies Bill 2009 to prevent further corporate frauds. The murder of Satyendra Dubey an engineer worked with National Highway Authority of India and the case of Manjunath Shanmugham induces the necessity of a stringent law which can protect the whistleblower. The introduction of Public Interest Disclosure and Protection to Persons Making the Disclosure Bill, 2010 will make the condition safer but need for an independent competent authority cannot be ignored. Strict criminal prosecution should be instigated in counter to those thwarting whistleblowers from acting against a corporation. SOX Act, 2002 effectively lays down the protection to whistleblowers and that should be followed by our nation a mere amendment to cl.49 will not serve the purpose. Private companies are not coming under the ambit.

Keywords: whistle blower, scam

Suggested Citation

Varma, Rajasree, Whistleblowing: Indian Paradigm and Blemishes (December 21, 2012). XI Capital Markets Conference, 21-22 December 2012, Indian Institute of Capital Markets (UTIICM) . Available at SSRN: https://ssrn.com/abstract=2258296 or http://dx.doi.org/10.2139/ssrn.2258296

Rajasree Varma (Contact Author)

Hidayatullah National Law University ( email )

Civil Line, Beside Raj Bhawan
Near Raj Bhawan
Raipur, Chattisgarh 492001
India

Register to save articles to
your library

Register

Paper statistics

Downloads
225
Abstract Views
828
rank
135,042
PlumX Metrics