Business Ethics and Corporate Governance, Second Edition

ROLE OF THE JUDICIARY

The judicial system has an important role to play in ensuring better public governance and corporate governance. There may be so many regulations, rules and procedures; but ultimately when disputes arise, they have to be settled in a court of law. There could be, of course, alternative dispute resolution mechanism such as conciliation or arbitration, but in countries like India, it is the judiciary that has to step in and ensure that healthy practices prevail.

The basic framework of the Constitution in India depends on the three main pillars, namely, judiciary, executive and the legislature. It is axiomatic that the basic structure of the Constitution is not to be tampered with. One of the areas in which the judiciary has ...