Case study: Pre-acquisition investigation to determine possible corruption
Experience/Corporate Risk in New Delhi

Corporate Risk in New Delhi

On behalf of a multinational firm, we conducted an FCPA due diligence investigation in connection with a planned acquisition of an engineering company based in New Delhi. The target company had contracts with government agencies in the past and the client was concerned about the way these contracts had been obtained.

We established that two members of the company’s supervisory board were former officials of government agencies and that the company had a good reputation in the private sector and a consistent track record of delivering high-quality service, the company’s most compelling selling point in tenders for government work.

A review of publicly available information in relation to the company, its principals, key executives and partners, as well as a series of inquiries with confidential sources in the industry, law enforcement and regulatory circles, identified no evidence to suggest any involvement in corrupt practices or inappropriate lobbying relationships.

However, our investigation identified possible misconduct on the part of a senior employee related to financial irregularities within the firm. Although not directly related to the company’s government contracts, hence not necessarily an FCPA risk, our client restructured the company in order to avoid any similar risks in the future.

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