ISSUES AND CHALLENGES IN IMPLEMENTING CORPORATE GOVERNANCE FRAMEWORK IN PRIVATE COMPANIES IN INDIA
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Keywords:
Corporate Governance, Private Companies, Directors, Stakeholder, CommitteeAbstract
This research paper is aimed at analysing the issues and challenges faced by every private company in India during practicing good corporate governance. Corporate governance is a system that is used by every company for its good direction and control. The Board of directors has a very important role in maintaining strong corporate governance in the companies. It does not only increase the profit but also creates a good reputation in the dynamic world. By following this the companies can easily survive in this competitive world but there is some deficiency because of which the companies are failing for maintaining good corporate governance in some or the other way. There are many issues and challenges of corporate governance faced by private companies like the independence of independent directors, family Run business, and conflict between promoters and Management. The importance of corporate governance in private companies is that it is good for risk management and it creates a good relationship between stakeholders, management, and the Board of Directors of the company. It assures compliance in the company. Currently, in practical scenarios, many companies are not following corporate governance but if they follow corporate governance then it will be very beneficial for them and their goal will be achieved in a very effective and efficient way. Nowadays corporate governance is only written in pen and paper but in practical scenarios, it is not followed much.
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Copyright © 2026 by Anjala Patnaik, Anshuman Das, Adrish Dutta, Ahona Mukherjee, Ankita Sengupta, Anupriya, Aditi Mohapatra, Aniket Saha
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