Analysis Of The Corporate Governance Framework In India And The Implementation Of The Companies Act, 2013
Rajarshi Tripathi, Pragya Shukla & Nancy Patel, Amity Law School, Lucknow
ABSTRACT
Corporate governance plays a crucial role in sustaining a healthy business environment. The implementation of the Companies Act in India in 2013 resulted in a significant transformation of the corporate governance framework. The act introduces provisions aimed at promoting transparent, fair, and responsible corporate decision-making. This research paper intends to analyze the implementation of the Companies Act of 2013 within India's corporate governance framework. The paper examines the state of corporate governance in India before and after the implementation of the Companies Act of 2013, specifically highlighting the impact on board composition, the significance of independent directors, and other essential aspects of implementing effective corporate governance practices. The research also assesses the legal and regulatory framework of related party transactions, corporate social responsibility (CSR), and insider trading under the Companies Act of 2013. Furthermore, this study assesses the role of the National Company Law Tribunal (NCLT) and the National Company Law Appellate Tribunal (NCLAT) in driving good corporate governance practices in India. The research outcome aims to provide insights into how the legal and regulatory framework of the Companies Act of 2013 and India's corporate governance practices are being implemented. The study also highlights opportunities and potential challenges for improving corporate governance practices in India's legal and regulatory framework.
Keywords: Corporate Governance, corporate sector, Companies Act 2013, Board of Directors, legal and regulatory framework, related party transactions.
