The definition of corporate governance most widely used is "the system by which companies are directed and controlled" and The long term relationship, The transactional relationship. The Emperor has no clothes and Our definition of corporate governance.
Understanding India has often been difficult for those who look for archetypes in each country. India's sheer size, variety and apparent contradictions confound many observers. The persistence of poverty, illiteracy, malnutrition and the low rank in human development index makes it look somewhat similar to other poor and developing countries.
However, its software and engineering skills, its exports, its human resources and, more recently, its ambitious forays into acquisition of businesses abroad make every foreign observer sit up and take notice of the elephant that has begun to dance.
Illegal insider trading, A fiduciary duty, economic theory of the firm & special fiduciary relationship. etc