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Globalization, to become successful, has to be preceded by good governance. The key
principle for success is to ensure that growth is sustained and shared. Sustained, in that, it is robust
and can withstand shock and shared, in that, it brings prosperity to many, rather than the few.
There are many players involved in good (corporate) governanceowners, shareholders,
board of directors, managers and employees. They are the internal architecture. The
external architecture comprises the legal and statutory requirements, regulatory standards,
stock markets, government policies, media, reputation, and agents such as standards and
accounting bodies, all of which affect the corporation's credibility and stock value.
The present study aims at examining the governance practices prevailing in the
corporate sector within the Indian regulatory framework using the case study method. The study
was conducted to assess governance practices and processes followed by Indian corporate
houses. The study also aims at quantitatively assessing the substance and quality of reporting
of corporate governance practices in annual reports. The study was conducted on four
renowned companies in the FMCG sectorHindustan Unilever Ltd. (HUL), ITC Ltd. (ITC), Nestle (India)
Ltd. and Tata Tea Ltd.
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