Corporate Governance – Looking Beyond Statutory Compliances

Abstract

Corporate Governance is not restricted to merely ticking all the right check boxes in the list of compliances with various laws applicable to the company. The concept of corporate governance goes much deeper. Recently, the failure to adhere to good corporate practices in governance of many large corporations destroyed humungous amount of stakeholders’ value frittering away precious resources. Giving back to the society through fair, transparent and proper conduct of those at the helm of affairs and effective discharge of social obligations by the corporates is entrenched in the true purpose of corporate governance. Corporate Governance in India is evolving and given the circumstances prevalent in our country, it would take a major overhaul of the mindset of all concerned to achieve its true purpose. Looking beyond the obvious, the key to consistent practicing of good corporate governance in letter and spirit is having the right attitude!