Corporate Governance in India - Inputs on Root Causes

Friends,

Below are the key issues as outlined by you in regards to Corporate Governance in India.

Kindly review and help identify Root Causes for these issues by responding to this post.

Corporate Governance in India - Key Issues

1. Many companies don’t follow the set accounting norms
2. Companies ignore systematic processes and take shortcuts to production
3. Business ethics are overlooked
4. The boards generally consist of family members and extended family
5. Some large company boards have retired IAS officers who won’t oppose wrong doing because of their retainer check
6. Most corporates don’t have an ethics and compliance department
7. Value and ethics training for employees is non-existent in most companies
8. Sales people are made to sell at any cost even if bribes have to be given
9. Operations people are made to process shipments/sale even if it involves bribery
10. Working of many corporates is not transparent
11. Corporates inflate costs while launching new products
12. Personal expenses of promoters are made business/company expenses
13. The annual reports are manipulated
14. Many corporates have female directors just for the name sake
15. Many times accountants and auditors are related parties
16. Auditors are bribed to help save on taxes
17. Companies are created abroad to evade taxes and to bring black money back as white
18. People open companies with insufficient/inaccurate details and then use them for fraudulent/corrupt transactions. more  

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the cm of bengal mamta banergy a false name her actual name is'' mumtaj masama khatun ''a muslim bangladesi woman & naxlite in nature & anti hindu & anti indian is nowadays threatening our pm mr narendra modi a great patriotic hindu leader trying his best to develop the country & trying to save the nation from corrupt & selfish politicians & who are damaging the country. so called mamta banergy is working against hindus & responsible for killing of thousands of hindus in bengal during recent communal riots & also responsible for migration of thosands of hindus from their mother town.i feel & request that centre govt should not care for her threatenings & take severe action against her & her goondas.she is trying to spoil the piece & prosperity, brotherhood & atmosphere of bengal.centre should take stern action against her govt to maintain good atmosphere & brotherhood.she is 100% involved in sarda scam.she is responsible to infiltrate lacs of bangladesi muslims in india to hike her vote bank.i don't understand why centre govt. is so lenient/fluffy against her unconstitutional activities.how long this will be continue?she is spoiling countries atmosphere. jia hind On Thu, Jun 25, 2015 at 12:24 PM, Praveen Rajvanshi < praveenrajvanshi60@gmail.com> wrote: > THE ECONOMICAL CONDITION OF THE COUNTRY IS WORST. THE SHARE MARKET IS > CRASHED LIKE ANY THING.SEVERAL COMPANIES ARE CLOSED. SEBI HAS BECOME > UNCONTROLLABLE.IT IS WORKING RASHLY.NO ONE HAS CHECK ON SEBI. IT IS > CONTINUOUSLY PUNISHING COMPANIES.ALREADY MARKET IS POOR/SLUMP & COS NEED > SUPPORT OF GOVT.BUT INSTEAD OF SUPPORTING COS SEBI IS PUNISHING & MAKING > COS CLOSE.POOR INVESTORS ARE ALSO BADLY SUFFERING BY LOOSING HARD EARNED > MONEY BUT NO ONE IS TO CARE THEM.THIS SHOWS& PROVES'' ANDHER NAGRI CHOPAT > RAJA''.MR. MODI HAS BECOME TOTALLY MON MON SINGH NOW.HE IS DOING NOTHING > BUT CRYING A LOT. HE IS SPOILING WHOLE COUNTRY.HIS MINISTERS ARE BUSY IN > SCAMS.BUT NO ACTIONS ON THEM. BJP EARLIER LOST DELHI ELECTIONS & NOW SURE > IT WILL LOSE BIHAR & UP ELECTIONS BECAUSE OF A DULL & TOTALLY INACTIVE > GOVT.NO ONE KNOWS WHAT IT IS DOING.NOW PEOPLE OF INDIA HAS TOTALLY LOST > FAITH IN MR.MODI. MR. MODI SEEMS TO BE A BIG ACTOR RATHER THAN A CREATOR.HE > CAN SPEAK 1000 LIES BUT CAN;T DO ANY THING.THIS PERIOD OF BJP REIN WILL > PROVE A BIG DISASTER FOR THE COUNTRY & MR .MODI IS CLEARING WAY FOR > CONGRESS AGAIN IN POWER.HIS OWN MINISTER DO NOT COUNT HIM AS THEIR LEADER & > DO NOT FOLLOW HIM BECAUSE THE REASON OF IT THEY UNDERSTAND THAT HE IS > NOTHING MORE THAN A DRAMATIST.IN SUCH CASE WHAT OPPOSITION & PEOPLE OF > INDIA WILL REGARD HIM.IN MY VIEW HIS FUTURE IS DARK & UNHEALTHY FOR HIM. > MEDIA HAS STARTED CRITICIZING HIS FUNCTIONING OPENLY & BADLY & IF HE DOES > NOT BRING ANY CHANGE IN HIS FUNCTIONING THEN IT WILL BECOME DIFFICULT FOR > HIM TO STAY IN POWER.FOR DAMAGE CONTROL HE MUST ASK MRS VASUNDRA & SMRITY > IRANI TO STEP DOWN OTHERWISE IMAGE OF BJP WILL VANISH A LOT. BJP SHOULD > START DEVELOPMENT PROJECTS IMMEDIATELY WITHOUT FURTHER DELAY OTHERWISE HIS > IMAGE WILL BE TOTALLY RUIN/KACHRA.WHY MR. MODI IS TRYING TO PLEASE MUSLIMS > & WASTING HIS TIME. AS MUCH AS YOU WILL GIVE THEM LIFT THEY WILL SIT ON HIS > HEAD.YOU FORGET THAT MUSLIMS WILL EVER LIKE HIM & PRAISE HIM. BY TRYING TO > BEGUILE THEM HINDU WILL BR ANGERY WITH HIM.MR. MODI IS ALWAYS DOING VERY > TYPICAL & UNUSUAL THINGS .EITHR HE HAS NO GOOD ADVISER OR DO NOT FOLLOW TO > HIS ADVISERS. > > On Wed, Jun 24, 2015 at 11:11 AM, Rajendra Pratap Gupta < > support@localcirclesmail.com> wrote: > >> more  
CORPORATE BUSINESS GOVERNANCE ONLY DIVERSIFIED POLITICIANS ; BUREAUCRATS ; POLICING THE COMPOSITE IS THE GOVERNANCE AND GOVERNMENT. more  
Numbers are mind boggling….     WIKI LEAKS Published 1st List of black money holders in SWISS bank...... The Top Most 24 members are.....(money is in CRORES.  One crore is 10 million) 1 - Sonia Gandhi (568000) 2 - A Raja(7800) 3 - Rahul Gandhi (158000) 4 - Sharad Pawar (82000) 5 - P. Chidambaram (15040) 6 - Digvijay Singh (28900) 7 -  Ahmed Patel (9000) 8 - Jay Lalita (15000) 9 -  Harish Rawat (75000) 10 - Kapil Sibbal (28000) 11 - Suresh Kalmadi (5900) 12 - Ashok Gahlot (220000) 13 - Ashok Chavhan (76888) 14- Shyam kampli (582114) 15- Rajeev Gandhi(19800) 16- Harshad Mehta(135800) 17- Ketan Parekh(8200) 18- HD Kumarswamy(14500) 19- Lalu Prasad Yadav(28900) 20 - J M Scindia(9000) 21- Kalanidi Maran(15000) 22- Karunanidi(35000) 23- Suresh Kalmadi(5900) 24- Raj foundation(189008) pls fwd this msg by post on your wall.....pls support the movement against Corruption   Indians black money in Swiss bank is Rs. 358,679,863,300,000 (estimated to be 1.3 trillion dollars) this money belongs to 2000 Indians who have kept there to evade from tax, This money is enough for our India to become 10 America and become one of the most powerful developed country in the world for next 100yrs..Please raise your hand by forwarding this to all if you have free messages..As an INDIAN I am Forwarding...YOU??? Kirit Gandhi From: Rajendra Pratap Gupta To: haridasraigaga@yahoo.co.in Sent: Wednesday, June 24, 2015 12:35 PM Subject: New resource "Corporate Governance in I..." in [Transform India with Modi] more  
Many thanks to Mr. William Xavier for his good comments more  
जो सक्षम हैं वो गैस सब्सीडी ना लें ~ मोदी मैं सहमत हूँ पर एक निवेदन मेरा भी है- मोदी जी प्लीज एक बार हिम्मत जुटाकर बोल दीजिए जो सक्षम हैं वो आरक्षण ना लें। कृपया इस संदेश को आगे बढाइये....देश हित में जारी Sent from Samsung Mobile -------- Original message --------From: Rajendra Pratap Gupta Date:24/06/2015 11:51 AM (GMT+05:30) To: rsharma4077@gmail.com Cc: Subject: New resource "Corporate Governance in I..." in [Transform India with Modi] Find this email inappropriate - Unsubscribe Rajendra Pratap Gupta Rajendra Pratap Gupta shared a new resource in "Transform India with Modi". Subject: Corporate Governance in India - Inputs on Root Causes. Friends, Below are the key issues as outlined by you in regards to Corporate Governance in India. Kindly review and help identify Root Causes for these issues by responding to this post. Corporate Governance in India - Key Issues 1. Many companies don’t follow the set accounting norms more... View Resource/Reply Reply to this email to post a comment. If you believe that this post is inappropriate for this Circle, report it. This email was sent to rsharma4077@gmail.com. If you don't want to receive emails from LocalCircles in future, please Unsubscribe. LocalCircles, Inc., 1556 Halford Ave., Suite 290, Santa Clara, CA USA 95051. 107 Urbtech Matrix Tower, Plot No. B-4, Sector - 132, Noida, India, 201304.Privacy Policy. more  
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