Corporate Governance & Vigilance

Corporate Governance
Corporate governance deals with the ways in which suppliers of finance to corporations assure themselves of getting a return on their investment
Corporate governance is the system by which business corporations are directed and controlled.   The corporate governance structure specifies the distribution of rights and responsibilities among different participants in the corporation, such as, the board, mangers, shareholders and other stakeholders and spells out the rules and procedures for making decisions on corporate affairs.   By doing this, it also provides the structure through which the company objectives are set and the means of attaining those objectives and monitoring performance”
Corporate governance is about promoting corporate fairness, transparency and accountability
Vigilance at present

“When the mystics showed the moon, the ignorant looked at the fingers”, an old saying goes like this.   This is what exactly has happened in the case of ‘Vigilance”. ‘Vigilance’ is seen as propriety of vigilance departments and vigilance officers.   ‘Vigilance’ is not vigilance department, nor what all that vigilance department or vigilance officers do for that matter.   The fact that the concept of so called vigilance departments and vigilance officers were evolved only to check whether everyone in his job, is performing his vigilance function or not, has been lost sight of.  

Vigilance is an integral part of every action that the human being does. It tooks so long a period for Vigilance to regain its recognition of being a function.   In the recent times, Vigilance is being considered as a management function rather than a tool in the hands of the management.

Vigilance, in the present context can be explained as follows:

“Vigilance need not be a dirty word associated always with investigation or enquiry, charge-sheets and punishments alone.   It is not something that is apart, different, or alienated from the main organization or...