Tuesday, May 28, 2013

BCCI and Corporate governace


Why Mr Srinivasan is singled out in not adhering to Corporate Governance principles? The term Corporate Governance is a misnomer in India and Indian Corporate System and administration.Mr Srinivasan in a way is intelligent and he knows the weaknesses of all the Board members of BCCI and he also knows pretty well that majority of the members cannot dare to point out a finger against him as they have all been purchased and pocketed. The power of money is such that it can silence anything and anybody and Srinivasan may perhaps know this truth from his BCCI and IPL experiences. Transparency in accounting and auditing are missing and shareholders in India are not that conscious about the Corporate Governance Principles and they need not worry as long as they get good dividend and some silly benefits. The whole system of Governance in India is murky and industrialists, politicians, accountants and auditors are all hand in glove with each other.Your paper should have come out more daringly about all these lapses taking advantage of the shameless deals in IPL under the shelter of BCCI and India Cement.
 Dr.T.V.Gopalakrishnan 

( This comment in response to the editorial Losing the day Job NSrrenivasan's commitment to Corporate Governance is shaky in Business Standard has been published in Business Standard dated 28/5/13).

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