A Study of Corporate Governance under Companies Act, 2013
Corporate or Corporation is derived from Latin term “corpus” which means a “body”. Governance means administering the processes and systems placed for satisfying stakeholder expectation. When combined Corporate Governance means a set of systems procedures, policies, practices, standards put in place by a corporate to ensure that relationship with various stakeholders is maintained in transparent and honest manner.
India’s corporate governance framework contains a range of measures that promote accountability of management and transparency of financial and other information. On the regulatory framework of corporate governance, the Indian government has undertaken a set of reforms to improve disclosure norms of financial information and to update accounting rules. In the matter of corporate governance enactment of the companies Act 2013 deserves mention. The new Act replaces the Companies Act, 1956 and aims to improve corporate governance standards simplify regulations and enhance the interests of minority shareholders. The new Act is a major milestone in the corporate governance sphere in India and is likely to have significant impact on the governance of companies in the country.
The present paper aims at reviewing the provision and various developments in corporate governance in India under the Companies Act, 2013.
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