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Abstract
Corporate laws form the bedrock of commercial regulation by governing entry of corporates into the market, regulating their functioning, ensuring accountability to their shareholders, also laying down corporate governance norms. Over the years, India has witnessed a significant shift in its corporate governance framework. In the recent past, the most important legal reforms in India is the enactment of Companies Act, 2013 (“2013 Act”), was aimed at bringing Indian company law in tune with universal values. The enactment of 2013 Act and various legal reforms undertaken since then in the field of companies’ law have been intended to promote formation of corporate structures for leading industry, and making such conduct of corporate easier.