Dynamics Of Whistle-Blowing In Corporate Governance: A Nominal Existence Of The Whistle-Blower Protection Act, 2014

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Naveeth Ahamed

Dynamics Of Whistle-Blowing In Corporate Governance: A Nominal Existence Of The Whistle-Blower Protection Act, 2014

Authors: Naveeth Ahamed

Unique Paper ID: 172787
Volume: 11
Issue: 9
PageNo: 952-959

Keywords: Whistleblowing policy corporate leniency Corruption Illegal practices corporate governance Whistleblowing mechanisms

Abstract:
India ranks as the seventh most corrupt country globally, according to Transparency International, highlighting the pervasive issue of corruption across both public and corporate sectors. To address this challenge, the Indian government has introduced various regulatory measures, including the implementation of a whistleblower mechanism aimed at encouraging individuals to report unethical or illegal activities within organizations or public entities. This mechanism gained prominence following several high-profile corporate scandals that significantly impacted India's economy. In response, the Whistle Blowers Protection Act was enacted in 2014 to safeguard whistleblowers and combat corruption. However, despite its passage, the Act remains unenforced, raising critical questions about its efficacy and implementation. This paper examines the nuances of whistleblower policies in India, exploring the concept of whistleblowing and analyzing the existing legal framework. It highlights the shortcomings of the current system, particularly in the government sector, where the mechanism operates poorly, undermining its potential to foster good governance. The paper comparatively analysis of whistleblowing policies in the United States and the United Kingdom, identifying gaps in India's legal framework. Furthermore, it explores the factors hindering effective whistleblowing and proposes recommendations to strengthen the mechanism, including corporate leniency in competition law, enhanced roles for stock exchanges, and other alternative approaches. By emphasizing the need for robust implementation and reform, this paper advocates for a more effective whistleblowing framework to promote transparency, accountability, and good governance in India.

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ISSN: 2349-6002
Volume: 11
Issue: 9
PageNo: 952-959

Dynamics Of Whistle-Blowing In Corporate Governance: A Nominal Existence Of The Whistle-Blower Protection Act, 2014

Available:https://ijirt.org/article?manuscript=172787

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UGC Approved
Journal no 47859

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