Changing Scenario of Corporate Governance
Title of the paper: CHANGING SCENARIO OF CORPORATE GOVERNANCE
Authors :
*Jaspreet Kaur, Lecturer in Department of Commerce, Sri Aurobindo College of Commerce and Management, Ferozepur Road, Ludhiana. E- mail: jas_2347@rediffmail.com, Phone No: 9915509226
CHANGING SCENARIO OF CORPORATE GOVERNANCE
*Jaspreet Kaur
ABSTRACT
Corporate governance has been a highly discussed issue in the United States and Europe over the last decade. In India, these issues came into force in the last couple of years. The corporate governance code was modelled on the lines of the Cadbury Committee (1992) in the United Kingdom. On account of the interest generated by Cadbury Committee Report, the Confederation of Indian Industry (CII), the Associated Chambers of Commerce and Industry (ASSOCHAM) and the Securities and Exchange Board of India (SEBI) constituted Committees to recommend initiatives in CorporateGovernance.
In the Indian context, the need for corporate governance has been highlighted because of the scams occurring frequently since the emergence of the concept of liberalization from 1991 such as the Harshad Mehta Scam, Ketan Parikh Scam, UTI Scam, Vanishing Company Scam, Bhansali Scam and so on. In the Indian corporate scene, there is a need to induct global standards so that at least while the scope for scams may still exist, it can be at least reduced to the minimum. The present paper endeavours to study the constituents of good corporate governance, the legal and the conceptual framework under which a company has to advance and various controls exercised by the companies so that strict compliance could be adhered to .In order to have more clarity about the governing practices followed by various companies, a case study of Vardhman Textiles Limited is being taken in to consideration. The case emphasized that how the company is following the
Authors :
*Jaspreet Kaur, Lecturer in Department of Commerce, Sri Aurobindo College of Commerce and Management, Ferozepur Road, Ludhiana. E- mail: jas_2347@rediffmail.com, Phone No: 9915509226
CHANGING SCENARIO OF CORPORATE GOVERNANCE
*Jaspreet Kaur
ABSTRACT
Corporate governance has been a highly discussed issue in the United States and Europe over the last decade. In India, these issues came into force in the last couple of years. The corporate governance code was modelled on the lines of the Cadbury Committee (1992) in the United Kingdom. On account of the interest generated by Cadbury Committee Report, the Confederation of Indian Industry (CII), the Associated Chambers of Commerce and Industry (ASSOCHAM) and the Securities and Exchange Board of India (SEBI) constituted Committees to recommend initiatives in CorporateGovernance.
In the Indian context, the need for corporate governance has been highlighted because of the scams occurring frequently since the emergence of the concept of liberalization from 1991 such as the Harshad Mehta Scam, Ketan Parikh Scam, UTI Scam, Vanishing Company Scam, Bhansali Scam and so on. In the Indian corporate scene, there is a need to induct global standards so that at least while the scope for scams may still exist, it can be at least reduced to the minimum. The present paper endeavours to study the constituents of good corporate governance, the legal and the conceptual framework under which a company has to advance and various controls exercised by the companies so that strict compliance could be adhered to .In order to have more clarity about the governing practices followed by various companies, a case study of Vardhman Textiles Limited is being taken in to consideration. The case emphasized that how the company is following the