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On public servants

Implications of Supreme Court's ruling for private businesses

Business Standard Editorial Comment  |  New Delhi 

Recently, the Supreme Court ruled that senior employees of private sector banks would be considered "public servants" when it came to deploying the provisions of the Prevention of Corruption Act of 1988, or PC Act. The Court said that the intent of Parliament when enacting the PC Act was to widen the notion of a "public servant". It indicated that the guiding legislation for the sector, the Banking Regulation Act of 1949, said senior bankers were "public officials"; this was relevant, when drafted, to provisions of the Indian Penal Code that were subsequently ...

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First Published: Tue, March 22 2016. 21:41 IST
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