Corporate governance is the ‘it’ word in corporate India today. Governance issues have shaken the ethos of a number of Indian conglomerates. The Companies Act, 2013 has been instrumental in giving statutory recognition to the concept of ‘socially responsible business’. Proxy advisory firms are becoming increasingly active and influential, while retail investors continue to be active, if disorganised. Independent directors are becoming progressively more important and Securities and Exchange Board of India (SEBI) is on the warpath, encouraging ‘majority of minority’ rule of law. Despite all of these changes, governance in general - corporate governance in particular - continues to be an issue in India. This session will examine the most recent changes to laws in India that impact how Indian companies govern themselves. How can the true ‘spirit’ of corporate governance be brought to bear and what roles, if any, can counsel play? How will the introduction of ‘class action suits’ impact the Indian M&A climate? The panel will also discuss the advent of shareholder activism in India today and where the phenomenon is headed directionally.