Corporate Governance - India as Compared to Other Countries with Specific Reference to Canada

Amit Atre, Assistant Manager – Corporate Secretarial, Persistent Systems Limited, India

The Corporate Governance is a contemporary topic in different discussion forums, for business executives and the administrators. The concept that evolved over two decades ago, is now center of discussion for all the corporate affairs and is becoming a matter of special attention in every company – be a listed or otherwise. As they say, rules are better explained by its exception but Corporate Governance is an exception to this rule itself. The corporate scandals across the world like Enron, WorldCom and Xerox in the USA, Ahold in The Netherlands, China Aviation Oil in Singapore, Parmalat in Italy, Vivendi in France, Asian Financial Crisis have further strengthened the fact that corporate governance norms must be adhered to irrespective of the industry, size of the company, geography or the legal structure. These failures, however, have pointed out some common global evils in the securities markets. Lack of supervisory capacities, non-implementation of various laws, problems of corruption more or less got highlighted in most of these cases. Where do we go from here?

Amit Atre (amit_atre@persistent.co.in) is the Executive – Corporate Secretarial at Persistent Systems Ltd., listed on NSE and BSE and is one of the leading outsourced software product development company with a turnover of about US $ 125 Mn. and 5,000+ employees.

Persistent Systems: Established in 1990, Persistent Systems (BSE & NSE: PERSISTENT) is a global company specializing in software product and technology services. For more than two decades, Persistent has been an innovation partner for the world’s largest technology brands, leading enterprises and pioneering start-ups. With a global team of more than 6,500 employees, Persistent has 300 customers spread across North America, Europe, and Asia.