Marks & Spencer Added Anti-Bribery Clause in All Indian Contracts

Dec 14, 2012, 17:51 IST

Corporate/Bussiness Current Affairs December 2012. Marks & Spencer (M&S), the British retail company decided to attach strict anti-bribery clauses to its agreements in India

Marks & Spencer (M&S), the British retail company decided to attach strict anti-bribery clauses to its agreements in India. This was decided as the company planned to go ahead with the process of expansion in country.

The decision to insert anti-bribery clauses to the agreement by M&S came after the government decided to initiate the investigation into bribery allegations against Walmart, the US retail company after its disclosure of spending 25 million US dollar in lobbying in US from past 4 years. Walmart had spent the amount in lobbying in US for acquiring increased market access in India.

The international director for M&S declared that the company was preparing the in-house structure for guarding against the malpractices. The structure to guard against malpractices would also apply in India.
M&S is aware about the scandal involved in context to Walmart and therefore it has established internal controls as well as systems for guarding against any form of unpleasant or unwanted activities.

Jagran Josh
Jagran Josh

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