1. ECONOMIC OFFENCES
UNDER THE SUPERVISION OF:
Dr. Deo Narayan Singh
(Assistant Professor)
School of Law and Governance
SUBMITTED BY-
SANDEEP KUMAR
CUSB2313131025
LLM 1st SEMESTER
2. ECONOMIC OFFENCES
• Definition
Economic and financial offences cover fraud, forgery and
counterfeiting, offences against the legislation governing cheques
(in particular forgery or use of stolen cheques), forgery or use of
credit cards, undeclared employment, offences against
companies (such as misuse of company assets).
3. Distinguishing features of
Economic Offence
• 1) An Economic Offence is an act of crime.
• 2) The motive behind an Economic Offence is to acquire material advantage or to avoid a
material loss for the perpetrator of the offence or his associate; alternatively the motive is to
inflict a material loss on a third party with full knowledge of likelihood of such loss.
• 3) Breach of trust or deception or cheating is an essential component of such an offence.
• 4) Use of force is generally not resorted to in commission of Economic offences.
• 5) It is generally seen that criminals committing Economic Offences belong to the
privileged sections of society.
4. INTRODUCTION OF OFFENCES under
COMPANIES ACT
• Certain requirements on the part of the company
• Failure to comply with provisions
• Categories of persons liable under the Act
• Relevant sections under Companies Act with respect to WCC
• Sections, relevant provisions, who is liable and punishment
• Sections: 34, 35,36,38, 73 and 74, 75, 127, 155 to 159, 184, 194, 195, 447,
448, 449, 452
• SECURITIES, CORPORATE AND FIDUCIARY FRAUDS
5. SECURITIES, CORPORATE AND
FIDUCIARY FRAUDS
Securities fraud
• also referred to as stock or investment fraud
• involves misrepresenting information to investors to induce them to make decisions.
• The perpetrator of the fraud can be
• an individual
• an organization
Corporate Fraud
• refers to illegal activities undertaken by an individual or company that are done in a dishonest or unethical manner.
Fiduciary fraud
• Meaning of fiduciary
• occurs when a financial institution or advisor purposefully deceives a customer or client.
6. ENVIRONMENTAL LAW
• Corruption that occurs in the environmental sector
• EXAMPLES: embezzlement during the implementation of environmental programmes, grand
corruption in the issuance of permits and licenses for natural resources exploitation, and petty
bribery of law enforcers.
• Poaching of animals (endangered species) like whales, horns of rhinos, skin of animals for
illegal trade (see CITES) , blood diamonds, virappan case in india (smuggling of sandalwood).
• Major environment scams
• PROTECTION OF ENVIRONMECT ACT 1886
• EIA DRAFT RULES 2020
• Convention on International Trade in Endangered Species of Wild Fauna and Flora
7. CRIME AGAINST CONSUMERS
• Impact of WCC on consumers
• Some major scams that effect the interest of consumers directly:
Credit card fraud
Online shopping fraud
Adulteration
Health
Education
Corruption cases
