Corporate Governance Reforms in India: Evolution and Observance

Corporate governance outlines how a company is directed and defines relationships of a company with its shareholders and stakeholders. This paper is structured into three sections. The first section discusses the evolution of Corporate Governance in the emerging economy of India. It laid down focus on the recent initiatives on Corporate Governance in India by Securities Exchange Board of India (SEBI) and other regulatory bodies. The second section examines the observance/compliance of standards and codes on Corporate Governance in India. The third section explains Corporate Governance Scorecard (CG Scorecard) for India. It is a new initiative taken by Bombay Stock Exchange (BSE) in 2016 later updated in 2023.Corporate Governance Scorecard is a tool for measuring the Corporate Governance status of the companies.