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Corporate governance in India has evolved from promoter-driven roots to a robust framework under the Companies Act 2013 and SEBI LODR 2015. This system mandates diverse board committees to oversee financial integrity and risks. However, a core challenge remains achieving "governance in substance" over mere procedural compliance. Boards currently grapple with information asymmetry, complex related party transactions, and emerging technological risks like AI. Ultimately, effective governance transcends checklists; it requires a culture of integrity, ethical accountability, and a reflective mindset to protect all stakeholders.
Introduction
Way back in the 17th century, with the emergence of joint-stock companies such as the Dutch East India Company, the foundations of modern corporate governance began to take shape. The concept of separating ownership from management introduced a need for accountability in business operations. Corporations grew in size and influence over the centuries, particularly after the industrial and economic expansion of the 20th century. This raised concerns regarding misuse of managerial powers, shareholder protection and ethical conduct, which led to the evolution of structured governance mechanisms across jurisdic
