CORPORATE GOVERNANCE AN INDIAN PERSPECTIVE AND ICGN

Deepankar Kumar

LLM, Symbiosis Law School, Pune

Best Citation – Deepankar Kumar, CORPORATE GOVERNANCE AN INDIAN PERSPECTIVE AND ICGN, 2 ILE IPCLR 19, 2022

ABSTRACT

Corporate governance has risen to prominence in recent decades. The critical nature of a solid system of corporate governance standards has been highlighted as a result of the growing number of frauds and scams plaguing the business worlds of practically all industrialized and developing countries. The rapid rise of globalization, which has altered the economy of nations and the nature, structure, duties, and several other vital nitty-gritty of businesses, is one of the most promising and forthcoming issues of corporate governance today. As a result of the proliferation of business firms establishing offices in various world regions, the number of stakeholders in such multinational organizations has expanded dramatically, necessitating the implementation of a robust corporate governance framework. As one of the world’s fastest growing economies, India has enacted a slew of new rules, regulations, and laws to tackle the scourge of corporate irresponsibility better. Despite the governments and regulatory bodies efforts, Indian society continues to experience a slew of financial and corporate scams each year, which have a disastrous impact on the Indian economy and the global market. This study intends to put out an in-depth picture of India’s corporate governance framework as well as analyze the global corporate governance principles set out by the ICGN that Indian companies can embrace. It will objectively examine current regulations to maintain a system of appropriate corporate governance and conduct a comparison analysis of the ICGN principles and the Indian regulatory environment to give critical recommendations for strengthening the current set of standards.

Keywords- Corporate Governance, Globalization, Global Governance, ICGN