Business Ethics and Corporate Governance, Second Edition

THE EMERGENCE OF CORPORATE GOVERNANCE ISSUES IN INDIA

The Stock Exchange of London appointed, as discussed earlier, the famous Cadbury Committee which submitted its report in 1992 that included the ‘Code of Best Practices’ to be practised by listed companies. Sir Cadbury Report was implemented by the London Stock Exchange as part of its Listing Agreement with its member companies. The Cadbury Report is generally considered to be the foundation stone of corporate governance.

In India, the real history of corporate governance dates back to the year 1992, following efforts made in many countries of the world to put in place a system suggested by the Cadbury Committee. The Confederation of Indian Industry framed a voluntary code of corporate governance ...