Business Ethics and Corporate Governance, Second Edition

CORPORATE MISGOVERNANCE IN INDIA

Industrial growth in India along with the development of corporate culture started only after the country became free in 1947. However, with the characteristic of the country’s governance continuing to be feudalistic, and its political system degenerating to be pseudo-democratic, the governance of most of the country’s industrial and business organizations thrived on unethical practices at the market place while showing scant regard for the timeless human and organizational values in dealing with their employees, shareholders and customers. The increasing corruption in the government and its various services had kept the managements of country’s industrial and business organizations above accountability for their ...