Barely a year after launching a political party to harness anger at widespread corruption, the Aam Admi Party (“Common Man” Party) has pushed the waning Congress Party from its 15-year long rule of New Delhi’s assembly.… Continue Reading
All posts by Russell A. Stamets
The U.K.’s Serious Fraud Office (SFO) obtained an order from a British judge last month forbidding the Wall Street Journal from printing the names of dozens of individuals who are expected to be named as co-conspirators in the SFO’s investigation of the London interbank offer rate (LIBOR).… Continue Reading
An Indian government investigation has accused General Motors of “corporate fraud” for submitting false emissions data to regulators for vehicles manufactured and sold in India from 2005-2012. The panel’s findings have led to a recall of more than 125,000 vehicles in India and could result in charges against current and former senior executives.… Continue Reading
India’s emergence as the largest importer of weapons in the world has coincided with well-intentioned efforts to clean up a procurement process with a history of bribery problems.
However, a blacklist system to ban errant arms dealers has potentially weakened efforts to modernize India’s outdated military and done little to actually stem corruption.… Continue Reading
The conviction of an important Indian politician has some commentators speaking breathlessly of a renewed commitment to fight graft in India. If only it were true. In the land that invented chess, however, the only thing that has changed is the cost to play the game.… Continue Reading
A young member of India’s much-maligned civil service has created a major political uproar by taking on politically connected sand mining companies in India’s largest state.
Durga Shakti Nagpal, 28, named for the Hindu goddess of the triumph of good over evil, is a member of the elite Indian Administrative Service (“IAS”), the successor to the colonial service that was called the steel frame of the British Raj.… Continue Reading
A sweeping new company law in India is a major overhaul of the basic rules for corporate operation and an attempt to introduce greater transparency and improved corporate governance.
Like many things in India, there is much hope and even greater questions about the details and effectiveness of the new regime.… Continue Reading
With the conclusion of the scandal-ridden domestic cricket season (and the second-place finish of my beloved Chennai Super Kings), India is now turning to its other scandal-plagued spectator sport: politics.
Parliamentary elections are expected sometime in the first half of 2014.… Continue Reading