Has Corporate Governance Improved in India?

Mr. Ramlinga Raju the prime accused for the Satyam fraud case is seeking extension of bail. The courts had ordered that he should return to prison today.

After the Satyam fraud case in January 2009, there was a lot of noise about lack of corporate governance in India. A number of initiatives were considered regarding empowering independent directors, changing auditor appointments, review by SEBI etc.

Here is a video of the old news with Adi Godrej speaking about the failure of corporate governance. Watch the video to recall the issues discussed then.

Do you think during this period corporate governance has improved in India? Is it still the same and we are waiting for the next big fraud case to hit the news?