Good elaborate article ... Thank you. What about criminal liability of the State (read PSUs, PSBs, etc.) on the same principle as SC laid down in StanChart Bank ? The State can't wash its hands off saying that the rogue PSUs or PSBs are managed by Boards/Management Committees, so at worst the members of the Boards/Committees may be punished on conviction. If that be so, then why do the Courts punish Chairmen or Managing Directors of private corporation (Ansal Brothers in Uphaar fire case) ? But, Air India, Banks, Railways, Hospital ?
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