Ridhya Mahajan, B.A.LL.B, University of Petroleum & Energy Studies, Dehradun
ABSTRACT
Many nations have realised the significance of fair corporate governance policies in the age of globalisation. These nations have all experienced some of the worst corporate scams, including the collapse of Wallpaper Group Coloroll in the UK, the Enron Affair in the US, and the Satyam Scam in India. A nation may safeguard its economy and the investments made therein with the aid of sound corporate governance policies. It encourages stockholders to make capital market investments and ensures the security of their capital. By Article 49, corporate governance and its fundamental tenets of Transparency, Accountability, and Fairness were introduced in India. Only when the Kumar Mangalam Committee recommended it was this action taken.
Yet ever since the devastating Satyam Scam and other Corporate Governance failures, India's economy has been battered repeatedly.
This essay will examine the historical occurrence of the well-known scams that took place in India and the lessons learned as a result. The current legal situation and the difficulties Indian corporate governance procedures face are also covered in the study.
Keywords: safeguard, tenants, difficulties, governance, transparency
