Review corporate governance

by N. Vittal, for Ahmedabad Mirror, January 18, 2019.

January 7, 2010, marked the anniversary of the most striking corporate scandal of liberalisation era. It was exactly a year ago when Ramalinga Raju, the visionary leader behind Satyam Computers, an iconic company of information technology, made a five-page confession of the Rs 7000-plus crore fraud he committed over a period of six years. Ironically, this was the period when Satyam evolved into one of the iconic seven SWITCH (Satyam, Wipro, Infosys, TCS, Cognizant and HCL) companies of the Indian IT sector.

The scandal drew attention towards the vital issue of corporate governance in industrial management and academic circles. Regulatory agencies and the government of India had to do serious rethinking on the concept of corporate governance and making it work in reality.

Corporate governance has been a major issue in global business especially after the economic meltdown in South East Asia in 1997. It is essentially to promote honesty in business operations and preserve the critically vital element of trust in those dealing with the enterprise. After all, any good business is a win win exercise…(continue reading)


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