Law of Corporate Governance
Author : Dr. S.N. Ghosh & Professor Amitava Banerjee
Year : 2020
Corporate Governance, or CG, is a market-driven subject. The exaction for good governance practices has exhibited an upward trajectory growth in India for its economic sustenance and is immensely dynamic. No longer a business strategy, it impacts the well-being of all actors of the economy. But then, as the cliché goes, ‘Change is ubiquitous’. The seamless integration of global economies and adoption of global best practices have made the topic more challenging, necessitating regular updation to capture contemporary developments across jurisdictions.
In India CG is regulated by the sectoral regulators. SEBI regulates the domestic securities market, RBI the financial sector, IRDA the insurance sector and PFRDA the pension funds. Though the underlying intent of the sectoral regulators is the same, their operations and practices are different.
Against this regulatory landscape, Law of Corporate Governance enables the development of conceptual and intellectual foundations of CG by stressing on the rationale of the provisions and the issues and challenges associated with different layers of corporate management. A comparative analysis of CG principles and practices in major jurisdictions provides an edge to the reader’s knowledge.
UN Global Compact Network and ESG (Environmental, Social and Governance) are new dimensions of the ever-changing concepts of ‘Stewardship’ in CG. India Inc. cannot aord to be a laggard in market dynamics. This book makes a sincere endeavour to fill the knowledge gap in the Indian CG education delivery ecosystem.
Interweaving a relationship between the administrative and quasi-judicial powers of SEBI with the mandates of the Companies Act, 2013, duly evidenced by leading contemporary cases on CG, from Satyam to the Tata–Cyrus Mistry episode, this book provides a refreshing outlook on the study of the domain.