ITC - The FERA Violation Story


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Please note:

This case study was compiled from published sources, and is intended to be used as a basis for class discussion. It is not intended to illustrate either effective or ineffective handling of a management situation. Nor is it a primary information source.

Case Details:

Price:

Case Code : BECG016 For delivery in electronic format: Rs. 300;
For delivery through courier (within India): Rs. 300 + Rs. 25 for Shipping & Handling Charges

Themes

Ethics in Business
Case Length : 14 Pages
Period : 1996 - 2001
Pub. Date : 2002
Teaching Note : Available
Organization : Enforcement Directorate (ED), Customs and Department of Revenue Intelligence (DRI), ITC
Industry : Food, Beverages and Tobacco
Countries : India

Abstract:

The case examines the charges of FERA violations against tobacco major ITC in the 1990s. The case details the dubious international trading deals by ITC and its partners, the Chitalias, the Enforcement Directorate's investigations and the arrests of ITC executives.

The case also looks at charges of excise duty evasion and share price manipulation against ITC.

The case ends with a discussion on the measures taken by the company to restore its corporate image in the light of the light of the various charges.

Issues:

Corporate governance structure and causes that led to unethical behavior in a large company engaged in international business

Contents:

  Page No.
ITC in Trouble 1
Background Note 2
The Allegations 3
FERA Violations 5
The Aftermath - Setting Things Right 6
Exhibits 9

Keywords:

FERA, tobacco, ITC,1990,dubious international trading deals, ITC, Chitalias, Enforcement, directorate, ITC executives, excise duty evasion, share price manipulation, corporate image

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