In a company form of business the money of public is used by the issue of shares or debentures and at the same time it is essential to check whether money received by these companies is utilized properly. In order to control the activities of the business the whistle-blower act is framed to empower the complainant and act to check fraud at an early stage. The complainant can be an insider or an outsider. The act specifies how complaints can be filed and the complainant can be protected. The act encourages reporting any wrongdoing. The paper studies the reporting of unethical business by whistle-blowing and the problems concerned with it. It critically studies the whistleblower act and suggests suitable way-out to overcome the hurdles of this act and improve the ethical aspect of the business.

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Keywords: Whistle Blowing, Business Ethics, Whistleblower; Corporate Fraud.