Navigating corporate fraud—remedies in England & India

15 November 2024 / Lydia Danon , Tulsi Bhatia , Daksh Ahluwalia , Ashish Joshi , Tushar Shankar Nagar

Issue: 8094 / Categories: Features , Profession , International , Fraud

Cooke Young & Keidan team up with lawyers from Aikyam Law Offices in India to compare approaches to company wrongdoing

Both England & Wales and India provide remedies for corporate fraud, including through derivative actions, where shareholders take action on behalf of the company against wrongdoings by those in control of the company.
In England & Wales statutory derivative actions are governed by the Companies Act 2006, whereby court permission is required and the law focuses on protecting the company, offering remedies like damages, injunctions, and potential criminal charges for directors.
In India, the Companies Act, 2013 includes both civil and criminal penalties for fraud, allowing actions through the NCLT with remedies like personal liability, disgorgement, and class actions for shareholder protection.

Corporate fraud is becoming increasingly common particularly in times of economic downturn or geopolitical upheaval, something large swathes of the world has experienced in the last four years (or more).

In the UK, according

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Navigating corporate fraud—remedies in England & India

Cooke Young & Keidan team up with lawyers from Aikyam Law Offices in India to compare approaches to company wrongdoing

Both England & Wales and India provide remedies for corporate fraud, including through derivative actions, where shareholders take action on behalf of the company against wrongdoings by those in control of the company.
In England & Wales statutory derivative actions are governed by the Companies Act 2006, whereby court permission is required and the law focuses on protecting the company, offering remedies like damages, injunctions, and potential criminal charges for directors.
In India, the Companies Act, 2013 includes both civil and criminal penalties for fraud, allowing actions through the NCLT with remedies like personal liability, disgorgement, and class actions for shareholder protection.

In the UK, according

If you are not a subscriber, subscribe now to read this content

If you are already a subscriber sign in

...or Register for two weeks' free access to subscriber content

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Navigating corporate fraud—remedies in England & India

MOVERS & SHAKERS

Gilson Gray—Linda Pope

Jackson Lees Group—five promotions

Taylor Wessing—Max Millington