Legality versus morality

Recently, there have been some commentaries on legality versus morality. The Securities and Exchange Board of India Chairman Ajay Tyagi bemoaned that the regulator and independent directors have failed to mitigate the influence of promoters. Law and morality are often not aligned. Apart from regulations, we must consider the difficult perspective of character versus morality by exploring “behavioural corporate governance”.

Thomas Jefferson had said, “A code of ethics may be violated in moments of passion or delusion, yet it furnishes a text to which those who are watchful may again rally and recall the team.” Last week, the police chief of