Company affairs minister Prem Chand Gupta said on Monday that private companies too should adopt good corporate governance norms. Stating that the focus of the adoption of good governance practices is currently confined to the public-listed companies as is evident from the emphasis being placed on adequate disclosures, the minister said listed companies are a small minority among the companies in operation in the country.
He said corporate governance norms cannot be entirely enforced through laws, rules and regulations. Addressing the second meeting of the governing council of the National Foundation for Corporate Governance (NFCG), he said attention should be paid to the growing importance of good corporate governance in the national and international context “in today’s world which has virtually become a global village.”
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