IPL

Corporate Governance

Corporate governance has been in the Indian news headlines quite recently in connection with the scam perpetrated by Raju on Satyam shareholders and employees. Interestingly,  Satyam was the recipient of numerous corporate governance awards. Just goes to prove that just because processes are in place, does not imply that the processes are being followed. The spirit of the law  is more important than the letter of the law. But then India is a nation that loves it’s forms, it’s idiosyncratic processes and customs,it’s  bureaucratic ways and any change is greeted with derision, disdain and shock. Processes are meant to be traditionalized, embedded into the culture of the company and not uprooted without a by your leave! Who minds it’s clutter?

For more laid-back news followers, Satyam was just another scandal in just another family-run business.Satyam despite all its protestations , was just that – a family-run business though it’s shares were listed on the Indian stock exchange and available via ADRs.The more engrossing and entertaining corporate scandal has been the IPL imbroglio and it’s many running installments in the Indian media rumor mill.

Now, the IPL has a governing council which is equivalent to a corporate board of directors. In theory, a board of directors is an independent body that oversees the management of the corporate body or entity. It is there to make sure that the right processes are adhered to, that due diligence is carried out while executing strategy and no hanky-panky or unethical acts are carried out by any of the top management honchos.

But in practice, this is easier said than done. Most corporate boards are appointed with inputs from the incumbent management and thus cronyism is the name of the game. The typical board is populated with members who thus tend to be hand-in-glove with top  management. This seems to have been the case with the IPL governing council. Despite the presence of luminaries such as Ravi Shastri, Sunil Gavaskar and M A K Pataudi on the governing council, the BCCI finds itself facing a scandal of gargantuan proportions with conflict of interest and high-handedness tarnishing the fabric of IPL governance.

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IPL Musings – II

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Now that IPL 3 is finished & done and Chennai Super Kings rule supreme with their name engraved on the (hideous) trophy, a few more thoughts on the IPL and the final:

1> No team has won the title more than once but then we are only in the 3rd edition of the IPL. The final between CSK and Mumbai Indians ensured that there would be a fresh champion once more.

2> The 3rd and 4th place match was a replay of last year’s final with Royal Challengers Bangalore having some semblance of  sweet revenge for last year’s loss to the Chargers, though Kumble might not agree! Bangalore now go onto the T20 Champions Trophy! Just to remind you that none of the IPL teams featured in the semi-finals of last year’s T20 Champions tournament.

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IPL’s ‘Twittergate’!

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Image via Wikipedia

With the spat between the 2 protagonists of the IPL ‘Twittergate’ now hitting Parliament, i.e. Tharoor’s conduct being questioned by the opposition parties, and with demands for his resignation becoming more strident, my thoughts on Shashi Tharoor and Lalit Modi.

IPL Musings

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