 "Illustration by Binay Sinha")
A spate of corporate scandals and cases of poor governance have been hitting the headlines regularly for the past few months: The tottering behemoth Infrastructure Leasing & Financial Services, the sinking Dewan Housing Finance Ltd, alleged improprieties by the former managing director of ICICI Bank, the shock and horror show unleashed by the Zee promoters, unknown issues in YES Bank and Axis Bank, whose chiefs have been shown the door, and, of course, the continuing self-serving behaviour of some promoters like that of Sterlite/Vedanta, and so on.
Each of these events has led to a sudden and massive erosion in shareholder
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