India Inc. infested with ‘Enron’ type corporate frauds that can sink Indian economy - KPMG survey confirms
Tarin Mugabe
Mar. 18, 2008

The inadequacy of anti-fraud measures and unethical behavior of employees are two land mark reasons for the probable collapse of so called India Inc. – a business concept based on imported jobs from the western nations.

India Inc. that remain passive in its approach to deal with fraud may be a perfect breeding ground for corporate malfeasance, financial manipulation, and outright misrepresentation of facts to the investors and the employees , suggests the findings of the latest KPMG report on fraud.

There are thousands of ‘Enron corporations’ in India. These corporations are manipulating their books to inflate the stock prices for many years. Indian politicians are mostly corrupted. Bribing is a common practice in India. The securities watchdogs, the finance ministry, the corporate fraud oversight bodies do nothing to stop ‘Enron Type’ corporate fraud by the industrials and hired corporate servants.

Eventually, as Indian stock markets go below 10,000 in Sensex, as the bubble bursts, the corporate fraud cases will quickly surface. At that stage the investors worldwide will lose confidence in Indian stocks and the market making mechanism for these Indian stocks.

India Inc. infested with ‘Enron’ type corporate frauds that can sink Indian economy - KPMG survey confirms
Tarin Mugabe
The inadequacy of anti-fraud measures and unethical behavior of employees are two land mark reasons for the probable collapse of so called India Inc. – a business concept based on imported jobs from the western nations.
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