BAD CORPORATE GOVERNANCE

The special auditors appointed by DOT to look into the alleged evasion of licence fees and inflation of revenue and other irregularities have pointed out the glaring mistakes committed by the country’s number one telecom player. (DNA money 13-10-09). Anil Ambani is on war path with Reliance industries limited for alleged breach of contract, bad corporate governance and greediness. As expected the response from Rcom was, we are yet to receive the report and there are no irregularities or fudging of accounts. There can not be smoke without fire. And if probed further, they may come with the explanation that they did it for the benefit of the share holders. For some, corporate governance is simply on paper or talking point.