Corporate Governance In The 21st Century: Lessons From Major Scandals And Reforms In India

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Arpita Singh, Amity University, Noida

Vijeta Mishra, Amity University, Noida

ABSTRACT

Corporate governance has emerged as one of the defining pillars of responsible business conduct in the 21st century. It represents the framework through which corporations ensure transparency, accountability, and long- term sustainability in an increasingly complex global marketplace. In India, the evolution of corporate governance has been both reactive—arising from high-profile corporate scandals such as Satyam (2009), IL&FS (2018), and Yes Bank (2020) and progressive, driven by legislative and regulatory reforms through the Companies Act, 2013 and SEBI’s Listing Obligations and Disclosure Requirements (LODR) Regulations.This paper explores the evolution of corporate governance in India, highlighting how legal reforms, ethical leadership, and sustainability principles have redefined transparency, accountability, and stakeholder trust. It analyzes key corporate failures, evaluates the effectiveness of regulatory responses, and proposes strategies to strengthen board integrity, investor confidence, and long-term corporate legitimacy in the 21st century.

52. CORPORATE GOVERNANCE IN THE 21ST CENTURY- LESSONS FROM MAJOR SCANDALS AND REFORMS IN I

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