Like the miasma of foul air and failed policies that choked New Delhi and closed schools last week, the Indian government’s sudden declaration that more than 80 percent of its circulating currency is invalid left many across the country stung and choked. … Continue Reading
All posts by Russell A. Stamets
Sometimes your supply chain will deliver an old-fashioned, pre-database, non-FCPA related integrity issue: the old bait and switch.
Target Corporation has severed business ties with Indian textile manufacturer Welspun India (NSE:WELSPUNIND) after it accused the company of substituting cheaper cotton for higher quality Egyptian cotton.… Continue Reading
India’s new bankruptcy code is a promising development in a jurisdiction where it is difficult to start a business and a nightmare to shut it down.
Many executives in India would agree that high-level political corruption in India has decreased significantly during the first two years of Prime Minister Narendra Modi’s regime, a welcome development by any measure.… Continue Reading
A famous Bollywood actor. His daughter in law, a former Miss World. One of India’s top lawyers. Politically connected “industrialists.” For a country with 1.2 billion people, the 500 or so Indian nationals disclosed so far in the Panama Papers are hardly a blip, and few of the names a surprise.… Continue Reading
The Indian Supreme Court has expanded the definition of public servant in a decision that has implications for not only the banking system but potentially the country’s broader struggle against corruption.… Continue Reading
One of India’s major anti-corruption figures has staged a spectacular return to power in New Delhi local elections, just eight months after abandoning office following his first electoral victory.
Arvind Kejriwal and his Aam Admi Party (“AAP,” the “Common Man’s Party” in Hindi) won an astonishing 67 out of 70 seats in the Delhi legislative elections, banishing the iconic Congress Party and trouncing the Bhartiya Janta Party (“BJP”) of Prime Minister Narendra Modi.… Continue Reading
Regime changes are always delicate moments in countries facing corruption problems. When the sea of power recedes the low tide often exposes relationships and decisions that many had hoped would never surface.… Continue Reading
Indian general election results will be announced May 16 and are likely to have far-reaching implications for the course of the Indian economy. Why pay attention to the elections in India, the largest vote mounted in human history?… Continue Reading
India’s novice anti-corruption party has flamed out just 49 days after assuming control of administering the nation’s capital city-state.
It took more than 45 years, numerous revisions and a sound thumping for a storied political party, but the Indian parliament finally has passed a law authorizing creation of a new agency that may help address entrenched graft by public officials.… Continue Reading