Corporate Governance” is current and most burning topic in India as well as world over. It has gained tremendous importance in the recent past, especially after the second half of 1996. In this scenario, corporate governance has shifted from its traditional focus on agency conflict to address issues of ethics, accountability, transparency and disclosure. Moreover, they provide guidelines as to how the company can be directed or controlled such that it can fulfill its goals and objectives in a manner that adds to the value of the company and is also beneficial for all stakeholders in the long term. Corporate Governance is the need for those who are able to distinguish between what are personal and corporate funds while managing a company to gained a lot of importance and momentum the world over. The paper presents the importance and necessity of corporate governance in the fast moving age nationally as well as internationally. In this paper, we tried to focus on the acts, laws and principles developed and enacted by the government of India or outside India regarding corporate governance.