Balance between the interests of the various stakeholders in a corporation is essentially what corporate governance is all about. They include the government, the community, the shareholders, the management, the customers, the suppliers, and the financiers. Additionally, it creates the framework for a company's goals to be met and covers almost every aspect of management, from action plans and internal controls to performance evaluation and corporate disclosures. The need for an efficient and transparent corporate governance system has grown as a result of high-profile corporate governance failure scams, such as the stock market scam, the UTI scam, the Ketan Parikh scam, and the Satyam scam, which was sharply criticized by the shareholders. These scams have a significant impact on the nation's development.