The significant asymmetry in corporate governance norms for Indian Central Public Sector Enterprises (CPSEs) and their private sector counterparts leads to lapses in governance, says a study by Vidhi Centre for Legal Policy.
The report, which examined corporate governance distortions in cases such as the ONGC-HPCL merger, merger of State Bank of India and its associated banks, and Coal India, notes that an alternate legal framework for corporate governance of CPSEs in the form of the guidelines issued by Department of Public Enterprises does not serve any purpose, especially given the poor enforcement mechanisms under this alternate framework.
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