‘Corporate Governance’ Is More than Mere ‘Compliance’
Govardhandas Cements Ltd (GCL) was a well-known cement-manufacturing company in the north of erstwhile Hyderabad State, now merged into the Karnataka state. It was during the British regime that GCL ventured into the limestone belt offering tremendous scope for the commercial exploitation of limestone quarries to produce cement as a prime input in major construction activities such as construction of dams, railway sleepers, cement pipes, and major buildings in and around city centres. The company after a modest start had grown into a large unit supplying cement to all major projects in the country; it even started exporting to some neighbouring countries as early as the 1960s. ...