Strengthening The Pillars Of Integrity: A Comprehensive Analysis Of Corporate Governance In India

Abstract

This research article delves into the multifaceted landscape of corporate governance in India, tracing its evolution, examining the current regulatory frameworks, and exploring the challenges and opportunities presented by technological advancements. The study is motivated by the need to understand how corporate governance practices have adapted to the dynamic economic environment in India and to identify strategies for mitigating governance-related risks, particularly in the wake of high-profile corporate frauds that have underscored governance failures. Employing a comprehensive methodology that combines literature review, legal and regulatory analysis, and comparative studies, this article gives an in-depth examination of the definitions, principles, and theoretical underpinnings of corporate governance. It highlights the significant milestones in the development of corporate governance in India, including legislative reforms and regulatory changes aimed at enhancing transparency, accountability, and stakeholder engagement. The research further investigates the specific governance issues illuminated by various corporate scandals in India, pinpointing failures in transparency, board oversight, internal controls, and ethical standards. It assesses the impact of these scandals on regulatory practices and the broader corporate governance landscape. A noteworthy focus of the article is on the role of developing technologies—like data analytics, artificial intelligence, and blockchain- in transforming corporate governance practices. The study explores how these technologies can address traditional governance challenges by enhancing transparency, improving risk management, and facilitating more effective compliance monitoring. The article provides recommendations for strengthening India's corporate governance framework, emphasizing enhanced regulatory oversight, best practices in board management, ethical corporate culture, and strategic technology utilization to prevent fraud and foster sustainable success. It contributes to the ongoing discourse on governance practices in India.