Corporate governance and its implementation in India is not only being seen as an aftermath to recent corporate frauds, but also as a consequence of the increasing emergence of the Indian economy, as a global powerhouse. With greater integration within the global framework, Indian companies realise that they also need to be seen as being sound, ethical and transparent in their operations.
And it is not simply legislation that will facilitate greater adoption of good governance practices - it is softer aspects that need greater attention in India. The inaugural FICCI Grant Thornton: India 101-500 CGR 2009, was designed specifically to analyse corporate governance practices at 'mid-market' listed companies in India.
The review methodology was based on a survey to gauge the nature and extent of corporate governance practices and approximately 500 companies across various sectors were targeted to participate in the survey. In addition, views of strong advocates of corporate governance in India were obtained on specific issues emanating from the survey and these were analyzed by a team of experts from FICCI and Grant Thornton.
The results of this study and review have been thoroughly brought out in the FICCI Grant Thornton: 101 - 500 CGR 2009 report, which was released on 25 March 2009, at a press conference with FICCI.
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