Corporate Governance under the Provisions of the Companies Act, 2013
Corporate Governance is the set of policies that are created for deciding a company’s performance and direction. It is an overview of rules and regulations for the executives of an incorporated firm. They are the ones who agree to take responsibility towards the shareholders. Corporate governance is a broad term in today’s business environment. Corporate governance has become a widely discussed subject and a very important consideration for investors around the world. Investors and governments have started demanding better governance practices from all companies particularly after the wide publicity over corporate scandals such as Enron, Parmalat, Xerox, World Com, Satyam and many others during early parts of this century. The legal outfits of corporate governance can be customized to fit the meticulous choice of each wearer. The paper will discuss the corporate governance under Companies Act, 2013 in theoretical perspective. In addition, it will explain why it is important for any country to follow good corporate governance practices. It discusses on Board composition and Independence, Committees, Disclosures by Directors, Code of Conduct, Role of Independent Directors, Auditors, Duties of Board of Directors, Related Party Transactions, Disclosures in Annual Report, Corporate Social Responsibility etc. The paper gives overall view of the Corporate Governance requirements under Companies act, 2013.
Corporate Governance, Companies Act, 2013, Audit Committee, Board of Directors, Independent Directors, Transparency, Accountability and Responsibility
CS S Raja Babu