INDIA Law and Practice Contributed by: Priyank Ladoia, Asif Ahmed, Puneet Dhanoa and Utkarsh Routh, AZB & Partners
9.2 Likely Changes to the Applicable Legislation of the Enforcement Body
ruption or non-compliance with any applicable law. The ICAI states that the direct effect of any act of bribery or corruption in either the form of illegal benefit or penal consequences is on the company and should thus be reported by the appointed auditor. Section 147 of the Companies Act lays down a detailed code for penalisation of the auditor for contravention of their duties. 9. Assessment 9.1 Assessment of the Applicable Enforced Legislation The enforcement of the PCA was assessed by the United Nations Office on Drugs and Crime in their report titled “INDIA: Incentives for corporate integ - rity in accordance with the United Nations Conven - tion against Corruption”, published in 2013. The CVC Annual Report 2024 tracks PCA enforcement, and shows that, as of 31 December 2024, 529 CBI corrup - tion cases were under investigation – with 241 pend - ing for under a year and 56 for over five years. Courts had 7,072 PCA cases pending, including 2,660 for over ten years, while 13,100 appeals/revisions were pending, with 606 for over 20 years. In 2024, CBI corruption cases recorded a 69.14% conviction rate, compared to 71.47% in 2023.
Following the latest amendment in 2018, the Indian government has not proposed any further amend - ments to the PCA, nor is there any proposal to that effect pending in the government.
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