The many committees on corporate governance

The Birla committee suggested several mandatory and non-mandatory measures

It seems corporate governance and God have something in common. Both are remembered in times of crisis.

The first regulatory committee on the subject was formed in the days after the Asian financial crisis. In 1998, the Confederation of Indian Industry had set the ball rolling by publishing a ‘Desirable Code of Corporate Governance’. In the summer of 1999, the Securities and Exchange Board of India (Sebi, then under D R Mehta) formed a committee on the subject. Kumar Mangalam Birla, in his early 30s and a Sebi board member, led the panel of 18 people. It had representatives from the