Abstract

In the light of corporate governance standards envisaged by the recent amendments to the Companies Act, 1956, and the provisions of Sebi's revised Clause 49 of the Listing Agreement, this case study evaluates the quality of corporate governance standards and present practices in the textile, synthetics and petrochemical industry in India, based on the annual report of Reliance Industries Limited (RIL), a major Indian corporate house for the financial year 2006-2007. The study is expected to serve as a pointer to the effectiveness of current corporate governance practice in RIL, in particular, and the Indian corporate sector, in general.