The corruption cases databases are a product of the staff of the International Bank for Reconstruction and Development / The World Bank. It is intended for general information purposes only. The findings, interpretations, and conclusions expressed in the Database do not necessarily reflect the views of the Executive Directors of The World Bank or the governments they represent. The World Bank does not guarantee the accuracy of the data included in this work. Neither the World Bank Group nor its officers or employees shall be liable for any losses that may result directly or indirectly from the use of or reliance upon such information.
Electronic Data Systems Corporation (A.T. Kearney Ltd. - India)
Falsification of books and records, Disclosure violations, Regulation violations
No admission or denial of allegations
According to the US Department of Justice Report to Congress, Appendix C "Summaries of Foreign Corrupt Practices Act Enforcement Actions by the United States, January 1, 1998 - September 30, 2010," Electronic Data Systems Corporation, at 81-82: Misconduct in India, 2001-2003; EDS's former Indian subsidiary, A.T. Kearney Ltd. - India (ATKI) alleged to have made at least $720,000 in illicit payments to high-level employees of two Indian state-owned enterprises threatened in order to retain business with those enterprises; ATKI made the payments at the direction of Srninivasan, ATKI's president, after the officials of the state-owned enterprises threatened to cancel the contracts with ATKI. These bribes allowed EDS to recognize over $7.5 million in revenue from the Indian companies' contracts after ATKI began paying the bribes. Settlement amounts: $70,000 civil penalty (Srinivasan), $358,800 disgorgement and $132,102 prejudgment interest (EDS / ATKI-related penalties). Resulting civil enforcement/administrative actions: In the Matter of Electronic Data Systems Corporation (September 25, 2007); SEC v. Chandramowli Srinivasan (D.D.C., September 25, 2007).
US Department of Justice Report to Congress, Appendix C "Summaries of Foreign Corrupt Practices Act Enforcement Actions by the United States, January 1, 1998 - September 30, 2010," Electronic Data Systems Corporation, at 81-82, accessed at www.justice.gov/criminal/fraud/fcpa/docs/response3-appx-c.pdf; SEC v. Chandramowli Srinivasan, case summary and related documents at http://fcpa.shearman.com/?mode=form&id=221; In the Matter of Electronic Data Systems Corporation, Administrative Proceedings, File No. 3-12825, Order Instituting Cease and Desist Proceedings (September 25, 2007), accessed at http://www.sec.gov/litigation/admin/2007/34-56519.pdf.
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