The Forum of Free Enterprise is a non-political organization founded in 1956 by A. D. Shroff, and has been established to educate public opinion in India on free enterprise and a democratic way of life. The Forum publishes booklets to further its objects. The following booklet is titled “Corporate governance in India” was published on November 20, 1997, and was authored by K.B. Dadiseth. This booklet is a textual representation of the 32nd A D Shroff Memorial Lecture delivered by K.B Dadiseth on 24th October 1997. According to the author Corporate Governance is not simply a matter of creating checks and balances; it is about creating an outperforming organization. which leads to increased customer satisfaction and shareholder value. The author explains the importance of accountability and transparency in corporate culture. The author talks about the governance codes and collation of best practices for better corporate governance. Further, the author talks about corporate governance in India’s changing environment and the steps that need to be taken to make it more efficient. The author talks about sharing risks and responsibilities among employees and states “people must be encouraged to seek and allowed to test new ideas to continuously improve the processes they are involved in ” and suggests that self-drive must be accompanied equally with sharing the responsibilities that guide the company’s actions. The author talks about the audit system and suggests that audit should shift attention from fault-finding to assuring employees of a balance between risks and responsibilities and disclosures should focus on the quality of data rather than quantity. According to the author the companies can use auditing and disclosures to communicate trustworthiness and acquire the confidence of the public. The text ends with the view that the Indian environment is changing and it makes good business sense to evolve our unique solution to manage this change, using the bedrock principles of international Corporate Governance.