Corporate Governance and Legal Compliance in Indian Business Sector
Authors
DOI:
https://doi.org/10.36676/ijl.2023-v1i1-01Keywords:
Corporate Governance, Legal Compliance, Indian Business Sector, Companies Act, SEBI RegulationsAbstract
This paper provides a comprehensive analysis of corporate governance and legal compliance within the Indian business sector. Corporate governance has evolved significantly in India, influenced by regulatory reforms and the growing importance of ethical business practices. The legislative framework controlling corporate governance consists in accordance with the Securities and Exchange Board of India's guidelines and the stock exchanges' requirements for listing. This analysis takes a close look at the fundamentals of corporate governance in India. Including board composition, shareholder rights, and transparency. It also delves into the complex landscape of legal compliance, encompassing labour laws, environmental regulations, and intellectual property rights. While the Indian business sector has made substantial progress in these areas, challenges such as regulatory complexity and enforcement issues persist. To mitigate these challenges, businesses are adopting best practices such as comprehensive compliance programs, ongoing training, and board accountability. Ultimately, adherence to corporate governance principles and legal compliance plays a pivotal role in attracting foreign investment, ensuring sustainability, and fostering long-term growth in the Indian business sector.
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