clause 49 of the Listing Agreement

Corporate Governance is all about ethical conduct of business by corporations. It is more particularly relevant since in a corporate setup since there are conflicting interests of the parties involved. For example the shareholders and investors are interested in getting best return on their investment. Whereas the management is interested in getting best compensation, bonuses and position at the same time the employees look for a fair and rewarding work environment. The intent of corporate governance is to help align these varied interests while managing the corporation.In order to propose better governance the Government of India and SEBI took up various steps. These steps led to formulation of clause 49 of the Listing Agreement which codified the corporate governance norms and then further had influence on the formation of the new Companies Act 2013.

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