"The Prevention of Corruption Act, 1988 enacted to combat corruption in public sector and not in the private sector businesses of India." Do you agree with the statement ? Justify your answer with the help of provided pr

The Prevention of Corruption Act, 1988 (PCA) criminalises the acceptance of gratification (pecuniary or otherwise) other than the acceptance of legal remuneration by public servants which is paid by their employers in connection with the performance of their duties. Aiding and abetting the commission of bribery is also an offence, such that any person, who bribes or attempts to bribe a public servant or acts as a middleman for such bribing may also be held liable. Further, the PCA creates an adverse presumption if a public servant's assets are disproportionate in value to his or her income and cannot be satisfactorily accounted for. The provisions of the PCA apply regardless of the location or jurisdiction of the commission of an offence, as long as the same is committed by a 'public servant' as defined under it. Judicial decisions have also interpreted the term 'public servant' in the PCA to include a wide variety of persons, such as bank employees in both private and government owned banks. The PCA deals only with bribery of public servants. It does not extend to bribery or corruption in the private sector, i.e. where a public servant is not involved. That said, a private person/entity will be liable for inducing a public servant to commit an act that is prohibited by the PCA, by corrupt or illegal means or by exercising personal influence. Who is Public Servant [Section 2(c)]: "Public servant" means - any person in the service or pay of the Government or remunerated by the Government by fees or commission for the performance of any public duty; Public Duty has been defined by Section 2(b) of the Act, which means a duty in the discharge of which the State, the public or the community at large has an interest. any person in the service or pay of a local authority; any person in the service or pay of a corporation established by or under a Central, Provincial or State Act, or an authority or a body owned or controlled or aided by the Government or a Government company as defined in section 617 of the Companies Act, 1956 (1 of 1956); any Judge, including any person empowered by law to discharge, whether by himself or as a member of any body of persons, any adjudicatory functions; any person authorised by a court of justice to perform any duty, in connection with the administration of justice, including a liquidator, receiver or commissioner appointed by such court; any arbitrator or other person to whom any cause or matter has been referred for decision or report by a court of justice or by a competent public authority; any person who holds an office by virtue of which he is empowered to prepare, publish, maintain or revise an electoral roll or to conduct an election or part of an election; any person who holds an office by virtue of which he is authorised or required to perform any public duty; any person who is the president, secretary or other office-bearer of a registered co-operative society engaged in agriculture, industry, trade or banking, receiving or having received any financial aid from the Central Government or a State Government or from any corporation established by or under a Central, Provincial or State Act, or any authority or body owned or controlled or aided by the Government or a Government company as defined in section 617 of the Companies Act, 1956 (1 of 1956); any person who is a chairman, member or employee of any Service Commission or Board, by whatever name called, or a member of any selection committee appointed by such Commission or Board for the conduct of any examination or making any selection on behalf of such Commission or Board; any person who is a Vice-Chancellor or member of any governing body, professor, reader, lecturer or any other teacher or employee, by whatever designation called, of any University and any person whose services have been availed of by a University or any other public authority in connection with holding or conducting examinations; any person who is an office-bearer or an employee of an educational, scientific, social, cultural or other institution, in whatever manner established, receiving or having received any financial assistance from the Central Government or any State Government, or local or other public authority.