This paper provides an overview of gatekeepers who are responsible for strengthening corporate governance in India. “Corporate governance depends on effective checks and balances divided between four institutions in corporate world. These include board, management, stakeholders and regulators.” Actually, leading issues of conflicts which are hampering the quality of corporate governance in companies are as follows: (i) conflict between the managers and the owners (shareholders), known as the agency problem. (ii)  conflict between the majority (dominant) shareholders and the minority shareholders. (iii) safeguarding the interest of all shareholders versus caring of different stakeholders. In present scenario, corporate frauds are the result of these conflicts. Corporate governance is already emerged to remove these conflicts. Effective compliance of regulatory framework enables the corporates to ensure effective corporate governance programme. Moreover, growing importance of institutions of gatekeepers is changing the compliance scenario of corporate governance in India. These institutions are auditors, proxy advisory firms, rating agencies, whistle blowers, shareholders activism etc. Different regulatory authorities have made necessary provisions to empower and regulate these institutions responsible for strengthening corporate governance in India. This paper aims to provide an overall picture of present scenario of institutions engaged in strengthening corporate governance in India.

KEYWORDS: Corporate Governance, Related Party Transactions, Morality, Empowerment.