New Delhi, Aug. 4 -- The Sona Comstar dispute has once again brought to the fore the enduring clash between professional management and outdated promoter mindsets in some Indian companies. Many business families and promoters continue to treat listed companies as personal fiefdoms. This mindset, rooted in feudal control and family dominance, must give way to modern principles of governance and board-led decision-making.

Over the past few years, several companies-Hikal, Godfrey Phillips India, Finolex Cables, and Raymond-have seen their business performance, investor confidence, and boardroom dynamics destabilized due to promoter or family disputes.

These conflicts hurt minority shareholders, sap management bandwidth, and destroy wealth....