Indian Journal of Industrial Relations: Economics & Social Dev.

Nand L. Dhameja ¹, Vijay Agarwal ¹

Affiliations
1 Manav Rachna International University, Faridabad, IN

Abstract

Companies incorporated under Companies Act are characterized by separation of ownership and management. Besides shareholders, stakeholders include banks/financial institutions, Board of Directors (BoD), employees, suppliers, customers and regulatory authorities. The company's operations are in its interest and are to mitigate conflict of interest of the stakeholders. This entails corporate governance, with the essential characteristics of transparency and accountability. Besides the meaning and significance of corporate governance, this paper discusses the legal aspects and practice relating to the system of BoD's functioning and the key tools of corporate governance. It also analyses the recent conflicting corporate governance experiences of two leading giant corporations in India viz. Tata Group and Infosys.

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Nand L. Dhameja ¹

Affiliations
1 FMS, Manav Rachna International Institute of Research and Studies, Faridabad, IN

Abstract

Government has in principle approved the strategic sale of Air India by offering a 76 percent of stake. This paper presents a historical perspective of Air India, gives an overview of privatization experiences of airlines of different countries, stresses that revival would require professionalization of management first and privatization thereafter.. The paper also presents a critical analysis of possible alternatives for its privatization. Unbundling / separating core businesses and others and by the process of strategic sale, the airlines could be privatized. However, it has to be carried out with more rigor and austerity with a set time frame in a transparent manner guarding any situation of distress sale and also having due consideration of social factors.

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