Published Paper Details:

In recent times, a lot of corporate frauds and scams have surfaced owing to the failure of corporate governance. The world over has become a cesspool of company malpractices, corporate criminal acts and economic takedowns. A large attribute of such corporate misconduct is the weakening of the institution of independent directors (hereinafter, ID). This is an institution which maintains democracy, integrity, and corporate ethics in a company. Any mitigation of their role, functions or position shall create situations of probable corporate scams. This paper seeks to analyse the efficacy of ID and loopholes critically and comparatively in existing statutory ID framework to battle corporate frauds. The paper has employed a strategic and coherent timeline to phase out the genesis of this institution, role in corporate governance and prevailing need to consolidate its power to address budding corporate misconducts. The author has resorted to an extensive set of books, journals, statutes, and online sources to present his research in a structured and organized manner.