Typically, litigation lawyers should understand the basic ideas of law and justice. Lawyers are fiduciaries, and as such owe clients the responsibility of utmost loyalty and are obligated to render a full and fair disclosure of all facts material to the shoppers’ representation. Lawyers thus owe a duty of excellent faith and fair dealing with their shoppers and all dealings between lawyers and clients should involve full integrity and constancy by the lawyers. Lawyers must place the pursuits of the shoppers earlier than the interests of the lawyers or of different individuals, together with different clients. Failure within the duty of full disclosure is tantamount to concealment. Clients justifiably rely on the integrity and fidelity of their lawyers.
Nevertheless, with the unfold of banking and banks, frauds have been on a relentless increase. It might be a pure corollary to increase in the number of clients who’re using banks today. Within the yr 2000 alone now we have misplaced Rs 673 crores in as many as 3,072 variety of fraud cases. These are solely reported figures. Although, this is zero.075% of Rs eight,96,696 crores of complete deposits and zero.15% of Rs four,forty four,one hundred twenty five crores of loans & advances, there are any numbers of instances that are not reported. There were nearly sixty five,800 financial institution branches of a total of 295 industrial banks in India as on June 30, 2001 reporting a total of almost 3,072 bank fraud circumstances. This makes nearly 10.four frauds per financial institution and roughly 0.47 frauds per branch.
This isn’t the form of enterprise that might be bought to customers by strictly following procedures of a typical MULTILEVEL MARKETING firm. Actually, using techniques akin to inviting people to demo events, tempting them with gifts and presents and persuading them to purchase your service would make what you are promoting appear more like a scam as a result of most fraudulent dealers use the same modus operandi. Distributors are not likely to generate a lot revenue by just following MLM procedures equivalent to chilly calling or prospecting simply do not work anymore.
Weber considers charisma to be a driving and artistic drive which surges through conventional authority and established guidelines. The only real basis of charismatic authority is the recognition or acceptance of the claims of the chief by the followers. Charismatic authority will be revolutionary in nature, difficult traditional authority and sometimes rational-legal. Such a authority could simply degenerate into traditional authority through which the ability is exercised by those that surround the charismatic chief.
Charismatic authority exists when the management of others is based on a person’s private traits, comparable to extraordinary moral, heroic, or non secular virtuosity. Charismatic leaders are obeyed because folks feel a robust emotional bond to them. Hitler, Gandhi, Napoleon, and Julius Caesar had been all charismatic leaders. Whether or not such powers truly exist is irrelevant; the fact that followers consider that such powers exist is what’s vital.
Bank frauds are the failure of the banker. It does not mean that the external frauds don’t defraud banks. But if the banker is upright and knows his job, the task of defrauder will become extraordinarily difficult, if not doable. An Expert Committee on Financial institution Frauds (Chairman: Dr.N.L.Mitra) submitted its Report back to RBI in September 2001. The Committee examined and prompt each the preventive and healing points of bank frauds.
A detailed research of any fraud in financial institution reveals many common fundamental options. There could have been negligence or dishonesty at some stage, on part of a number of of the financial institution staff. Certainly one of them might have colluded with the borrower. The financial institution official could have been putting up with the borrower’s sharp practices for a personal gain. The proper care which was anticipated of the employees, as custodians of banks interest may not have been taken. The bank’s rules and procedures laid down in the Manual instructions and the circulars may not have been observed or may have been intentionally ignored.