India's scam tainted companies in UK's Bribery Act net?

Lord Peter Goldsmith reminds a Mumbai audience 'In Germany bribes used to be tax deductible until not long ago, they have changed that too, yes, absolutely'. Lord Goldsmith is one of London's leading barristers. He was UK's attorney general from 2001 to 2007. Currently he is European Chair of Litigation at global law firm Debevoise & Plimpton. Lord Goldsmith has been touring Asia to alert companies to the impact of the UK Bribery Act.

In this interview with CNBC TV18's Menaka Doshi, he talks about the impact on India Inc. Goldsmith: The first thing is that we can be certain of one thing, you don't need to be a UK company, you don't need have to have your head office in UK, you don't need to be listed on the UK stock exchange, in order to come within the ambit of UK Bribery Act. All you need in the words of the statute is to carry on business or part of your business in the UK. Now people have been struggling with just what that means and the most recent guidance from the government, as you rightly say, has to been in to say well, it means you have to have a