By Akhil Mahesh, National University of Advanced Legal Studies, Kochi “Editor’s Note: A corporation is a separate legal entity and considered a legal person. However, a corporation can be made criminally liable for unlawful acts done by its agents when they are acting within the scope of authority. The criminal […]
In recent years, the relations between the ownership and management have become the basis of Modern Corporation. While corporate governance essentially lays down the framework for creating long term trust between companies and the external providers of capital, it would be wrong to think that its importance lies solely in better access of finance. The key aspects of good corporate governance include transparency of corporate structures and operations, the accountability of managers and the boards to shareholders; and corporate responsibility towards stakeholders. While companies around the world are realizing that better corporate governance adds considerable value to their operational performance, India still needs to improve its standard of the same and cover up for the weaknesses.