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Mr G.N. Bajpai

New Delhi , Dec. 16

THE Securities and Exchange Board of India Chairman, Mr G.N. Bajpai, has called on the corporate sector to adopt good corporate governance standards, stating that such an approach would make business sense.

Speaking at the Institute of Company Secretaries of India awards function for excellence in corporate governance here, he held that standards of ethical behaviour could be prescribed by regulators even while admitting that ethics could not be legislated. He said that corporates should practise good governance in substance, and not in form alone.

The Deputy Prime Minister, Mr L K Advani, gave awards to captains of industry. HDFC and Reliance Industries were adjudged the best-governed companies in the private sector, and ONGC in the public sector.

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