Business Ethics and Corporate Governance, Second Edition

NARAYANA MURTHY COMMITTEE, 2003

The Company Law Amendment Bill, 2003 envisaged many amendments on the basis of reports of the Naresh Chandra Committee and the subsequently appointed N. R. Narayana Murthy Committee. Both the committees have done an excellent job to promote corporate governance practices in India. The Narayana Murthy Committee’s report summed up the utility of the corporate governance in the following words: ‘Effectiveness of a system of corporate governance cannot be legislated by law nor can any system of corporate governance be static. In a dynamic environment, systems of corporate governance need to be continually evolved. The committee believes that its recommendations raise the standards of corporate governance in Indian ...