| The concept of corporate governance has been attracting public attention for quite some time in India. The area is no longer confined to the halls of academia and is increasingly finding acceptance for its relevance and underlying importance in the industry and capital markets. Progressive firms in India have voluntarily put in place systems of good corporate governance. Focus on corporate governance and related issues is an inevitable outcome of a process, which leads firms to increasingly shift to financial markets as the pre-eminent source for capital. In the process, more and more people are recognizing that corporate governance is indispensable to effective market discipline. Corporate Governance enables a company to have its systems in place and at the same time enjoy sufficient freedom within a framework of accountability. |