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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