A study on evolution of Corporate Governance in Indian context and its challenges

Abstract

The aim of this article is to take stock of India's progress in corporate governance. In the age of globalisation and liberalisation, new technologies have completely altered the character of economic interactions. The complexity of business transactions and the difficulty of controlling risk grew as a result of the growth of corporate life cycles. It was partly due to the 1992 stock market scandal by Harshad Mehta that sparked concerns about corporate governance in India, as well as the current sathyam scam, that the issue of corporate governance became an issue in the country. Accounting scandals and concerns about the accuracy of financial reporting necessitated a focus on corporate governance. In a nutshell, corporate governance is concerned with fostering a culture of equality, openness, and responsibility inside organisations.