Author(s): Harshika Kapoor and Maneesh Yadav

Abstract: This study critically examines the evolving role of boards of directors in response to the dynamic corporate governance landscape shaped by legal reforms, stakeholder activism, ESG imperatives, and global best practices. Anchored in agency, stakeholder, and resource dependence theories, the research evaluates how boards are transitioning from traditional oversight functions to strategic roles encompassing sustainability, risk management, and ethical leadership. It compares Indian governance frameworks—specifically the Companies Act, 2013 and SEBI (LODR) Regulations—with international standards such as the OECD Principles, UK Corporate Governance Code, and King IV Report. Employing a doctrinal and comparative legal methodology, supported by empirical insights, the study identifies critical gaps between formal compliance and practical effectiveness in Indian boardrooms. It explores key challenges and proposes pathways for Indian boards to align with global expectations, particularly in ESG integration and stakeholder engagement. The findings aim to inform policy discourse and enhance the strategic value of board governance in India.

DOI: 10.22271/2790-0673.2025.v5.i2a.218

Pages: 59-69 | Views: 694 | Downloads: 266

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