THE ROLE OF CORPORATE DISCLOSURE IN ENHANCING ACCOUNTABILITY OF INDIAN COMPANIES

Corporate disclosure plays a vital role in promoting transparency and accountability in the functioning of companies, particularly in a rapidly growing economy like India. This article examines the significance of corporate disclosure in enhancing accountability among Indian companies by ensuring the timely and accurate dissemination of financial and non-financial information to stakeholders. Effective disclosure practices reduce information asymmetry between management and investors, thereby enabling informed decision-making and fostering trust in the corporate sector. The regulatory framework in India, including the Companies Act, 2013 and SEBI (Listing Obligations and Disclosure Requirements) Regulations, has strengthened disclosure norms and improved corporate governance standards. Furthermore, the increasing emphasis on non-financial disclosures such as Environmental, Social, and Governance (ESG) reporting reflects the evolving expectations of stakeholders. Despite these advancements, challenges such as selective disclosure, compliance burden, and lack of uniformity persist. The study highlights that robust corporate disclosure mechanisms not only enhance accountability but also contribute to improved market efficiency and investor confidence. It concludes that continuous regulatory improvements, technological integration, and stakeholder awareness are essential to further strengthen disclosure practices and ensure greater accountability in Indian companies.