An Evolutionary Step Towards Greater Corporate Governance: The Kotak Committee Report

Dhriti Jhaveri, K.P Mehta School of Law, Mumbai

ABSTRACT

Corporate governance refers to the set of principles directing the management and operational functions of the company, alongside keeping intact the interests of the stakeholders. Corporate governance is essential for preserving the integrity of the Indian securities market, safeguarding shareholder interests, and promoting the long-term success of companies in India. Over the years, SEBI has established numerous committees to introduce corporate governance guidelines for the country. The recommendations presented by the Uday Kotak Committee established a significant milestone for Indian Corporate Governance. The proposed provisions of the Kotak Committee aimed at enhancing the overall corporate structure in the country in addition to strengthing rights of minority shareholders, independency of board members and increasing the efficiency of established committees in a company. Consequently, the present research paper is an attempt to study the need of corporate governance in the Indian corporate sector along with examining the Kotak Committee recommendations approved by SEBI.

Keywords: Corporate Governance, transparency, accountability, Companies Act, SEBI (LODR)