Anti-graft Act: How will the amendments impact businesses in India?

Giving of a bribe by individuals and organisations has been criminalised & the erstwhile amnesty provided to a whistle-blowing bribe giver has been done away with through the amendements, experts say.

Experts share their insights on implications for businesses following changes in the anti-graft Act

Why was there a need to amend the anti-graft law?

The Prevention of Corruption Act was enacted three decades ago in 1988. Since then, several major socio-economic changes have taken place. During this time the international stance on bribery and corruption has also become way more stringent. In May 2011, India ratified the United Nations Convention Against Corruption. In this context, the 1988 Act was being considered a bit archaic, if not completely obsolete. Therefore, a need for amending the Act was felt so as