Corporate Ethics Cases — Ethical Standards

Entry	Year	Description	Impact
Companies Act 2013 (replacing 1956 Act)	2013	Comprehensive corporate governance reform introducing mandatory independent directors, audit committees, corporate social responsibility requirements, and enhanced disclosure standards. The Act responded to governance failures like Satyam by strengthening oversight mechanisms and executive accountability.	Transformed Indian corporate governance by mandating independent oversight, requiring CSR spending, and enhancing transparency. The Act created stronger legal frameworks for addressing corporate misconduct and aligned Indian standards with global best practices.
SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015	2015	Consolidated listing regulations introducing quarterly compliance certificates, enhanced related party transaction disclosure, and mandatory business responsibility reporting. These regulations responded to market manipulation and governance failures by requiring continuous disclosure and monitoring.	Strengthened market oversight by requiring real-time disclosure of material events, enhanced related party transaction monitoring, and mandatory sustainability reporting. The regulations improved market transparency and investor protection mechanisms.
Insolvency and Bankruptcy Code 2016	2016	Created comprehensive framework for corporate insolvency resolution, replacing multiple overlapping laws. The Code addressed governance failures by providing time-bound resolution processes and prioritizing stakeholder interests over promoter control.	Revolutionized corporate restructuring by establishing creditor-driven resolution processes, reducing resolution timelines, and improving recovery rates. The Code changed corporate behavior by making promoter control less secure and emphasizing stakeholder protection.