<b>Hetal Dalal:</b> Infosys no longer bellwether of corporate governance

The IT major is no longer a cut above the rest of corporate India

Infosys signified corporate governance in India for the longest time. Its founder has been instrumental in developing and strengthening the corporate governance framework in India [Narayana Murthy Committee Report on Corporate Governance (2003)]. And while India was still trying to figure out what imbibing good corporate governance practices entailed, Infosys had steamed ahead by benchmarking itself to global players. Corporate India has changed radically since then, and one may argue that it has caught up with Infosys.
 
Infosys’ governance standards have deteriorated by its own measure. Take Infosys’ Corporate Governance Philosophy, (box) for example. The first two of its