India, March 25 -- The world over, a number of frauds in business have forced regulators to tighten corporate governance mechanisms to avoid any loopholes. India, too, has had its share of corporate frauds. Since the liberalisation of the economy, India has focused on developing its financial markets and improving the governance of companies. This is one of the ways of protecting shareholders and overseas investors, which in turn will boost foreign investments, leading to the deepening of financial markets. Fairly unknown till the 1990s, Indian lawmakers made great efforts to bring corporate governance regulations to the current level through various institutions like the CII, Department of Corporate Affairs, and committees like Naresh Ch...