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India Corporate Governance Practices – Will Pharma Walk The Gandhian Path?

 
• By Anju Ghangurde

As Sun Pharma firefights allegations of corporate governance lapses, Scrip speaks to multiple experts on how they view the governance landscape across Pharma Inc in India and also some key sticking points.

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CORPORATE GOVERNANCE PRACTICES ARE IN THE SPOTLIGHT IN INDIA

An expert panel on corporate governance, in a report last year, broadly put the styles of running companies across sectors in India into two buckets - the “Raja” (Monarch) model and the “Custodian” (Trusteeship) model.

Self-interest precedes interests of other stakeholders in the former, while the latter essentially works on “Gandhian Principles” – where the founders, promoters, boards and management function like “trustees” and act in the interest of all stakeholders, the report of the Securities And Exchange Board of India (SEBI) committee

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