Open Access Research Article

CORPORATE GOVERNANCE FAILURES IN INDIA: A STUDY OF THE SATYAM SCANDAL

Author(s):
ANSHIKA JHUNJHUNWALA VANSIKA CHAUDARY
Journal IJLRA
ISSN 2582-6433
Access Open Access
Volume 3
Issue 8
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Abstract

Corporate governance plays an important role in ensuring transparency, accountability, ethical behaviour and effective management within a company. The Satyam Computer Services scandal, which came to light in January 2009, exposed serious weaknesses in financial reporting, auditing, board supervision and regulatory monitoring in India. B. Ramalinga Raju, the founder and chairman of Satyam Computer Services, admitted that the company's financial statements had been manipulated over several years. The scandal affected shareholders, employees, investors and other stakeholders and raised important questions about the responsibilities of directors, auditors and regulatory authorities. This research paper examines the concept and importance of corporate governance, the development of the Satyam scam, the role and failure of the board of directors, auditors' responsibilities and accountability, shareholders' interests and disclosure failures, and the legal and regulatory response. It also considers corporate governance reforms introduced after the scandal and recommends measures to improve transparency, independent auditing and corporate accountability. The study highlights that effective corporate governance requires more than formal compliance with legal provisions. It also depends upon ethical leadership, independent supervision, reliable financial reporting and accountability at every level of corporate management.   Keywords: Corporate Governance; Satyam Scam; Board of Directors; Auditors' Accountability; Shareholders' Interests; SEBI; Financial Fraud; Corporate Governance Reforms.

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Authors: ANSHIKA JHUNJHUNWALA & VANSIKA CHAUDARYRegistration ID: 1013602 | Published Paper ID: IJLRA13602 & IJLRA13603Approved ISSN: 2582-6433 | Country: Delhi, India

Article Information

CORPORATE GOVERNANCE FAILURES IN INDIA: A STUDY OF THE SATYAM SCANDAL

Authors: ANSHIKA JHUNJHUNWALA, VANSIKA CHAUDARY

  • Journal IJLRA
  • ISSN 2582-6433
  • Volume 3
  • Issue 8
Citation Download Paper Full Details Search on Google Search on Google Scholar

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International Journal for Legal Research and Analysis

  • AbbreviationIJLRA
  • ISSN2582-6433
  • AccessOpen Access
  • LicenseCC 4.0

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