During the first decade of the millennium, there have been numerous incidents of misdemeanour and many names were taken for all the wrong reasons for fraud, scams around the world. However, with Indian regulatory bodies taking stringent steps to check the operations and correct the wrongs have started putting everything in place. India, being an agriculture centric economy, contributing in the largest capacity to the nation’s GDP, is not immune to issues of corporate governance. It is essential to follow best corporate governance practices for companies involved in food grains, pulses, chana storage or essential commodities like potato storage in India.

Yet, the right steps, can lead to better performance by the public partnerships and prove to be a ray of light for the public private lineages. It becomes extremely important to follow fair practices for all the Post harvest agri logistics Groups in India.

Giving Back to the Society

One of the key issues that the sector has been dealing with is corporate governance and debated time and again is the responsibility of business corporations in the larger frame and their role in the society. A larger number of corporates have been talking about sustainable initiatives and corporate social responsibility, infact many instances have led to believe that many business houses have been doing their bit in their own way, individually or as a corporate body. It becomes imperative, as what we are is because we have been accepted by open arms by our society. That makes us stand where we are. Being stakeholders, they have a say in what the business houses allocate and perform for different projects, who will lead them and many more resolutions. This makes them important from both, a social perspective and from a business perspective. With a thrust in the regulations for CSR mandates, it makes all the more important for the companies to fulfil their social obligations and enhance the stakeholders’ value. They should address issues like post harvest losses & food security problems of India.
Related Party Transactions

Although, the family is a vital part, but in a business sense, we always say ‘Keep your personal and professional commitments separate’. This makes the question essential that whether our family members be a part of the company board. Certainly not, as a family union, it depletes the chances to expose to more minds and experiences and limits the power to take the right stand in a resolution. The board, in all possibility, should be independent, which can bring fresh and individual thought process while taking THE MOST crucial decisions of the business. It also minimizes the chances of any under the table frauds in the room. In all, greater independence amongst the board members complements and the synergies generally help in achieving a highly desirable result. Independent Board is committed to the welfare of the company and equitable treatment to all its shareholders is the cornerstone of good corporate governance. The overall impact and the board ambience strengthen the performance of the company and enhance the services towards its stakeholders including shareholders.