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The emergence of new technologies in the era of globalization and liberalization entirely changed the nature of business transactions. By the evolution of business life cycles business transactions became very complex and managing risk became a challenging task for the organizations. Concerns about corporate governance in India were, however, largely triggered by Harshad Mehta stock market scam of 1992 followed by incidents of companies allotting preferential shares to their promoters at deeply discounted prices and also the recent scam of sat -yam. The aim of “Good Corporate Governance” is to ensure commitment of the board in managing the company in a transparent manner for maximizing long-term value of the company for its shareholders. The paper intends to present the various corporate scam occurred in India and also highlight the regulatory framework for regulating the corporate governance in India and failure of regulatory Framework in governing the corporate which leads to occurrence of scam and also the recommendations for better corporate governance practices in India.
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