Empirical Study of Board and Corporate Governance Practices in Indian Corporate Sector: Analysis of CG Practices of ITC and ONGC

Corporate Governance is contemporary topic in business world these days. In today's world when companies are competing on international standards, they need to be professionally run in the best interest of investors. Board of Directors (BoD) is the most important body in a company and is responsible for investors’ protection. Corporates are failing in terms of Accountability part whenever question of governance has come. Mousa F. Al Manaseer (2012) expressed that the board of directors is the primary internal governance mechanism charged with overseeing executive decisions. This research aims at studying two Indian companies namely, ITC, a leading Indian conglomerate and ONCG, a public sector undertaking, for the purpose of evaluating both with respect to compliance to SEBI's requirement of clause 49 A and B (pertaining to disclosure, efficiency of board and representation of sufficient number of independent directors in the Board). Researchers are trying to evaluate performance of these two top market capitalization companies in terms of BoD and their governance. For this study, researchers will take secondary data from annual reports of respective companies for the financial year 2012-13 (being most recent disclosures). Several parameters which are mandatory and desired from these companies will be tested by Chi-Square test and findings will be drawn.