Trial of Warren Hastings - Final

8/8/2019 Trial of Warren Hastings - Final

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By

Group 7


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y No definite definition

y Attributes of Good Corporate Governance

y Transparency

y Accountabilityy Justice

y Social Responsibility

y Corporate Governance Theories

y Agency Theoryy Stewardship Theory

y Shareholder Theory

y Stakeholder Theory


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y Highest decision making body

y Objectives:

y Independent and responsible decisions

y Adequate representatives of all stakeholdersy Transparent decisions

y Code of conduct

y Three fold powers:

y Legislative powersy Executive powers

y Judicial powers


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y Permitted to trade in India in 1600 AD

y Started trade in India

y

Expanded toC

hinaOpium trade

y Founded the Empire in 1757

Heavy Tax Burden on Indians

Huge profit for its shareholders


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y First Governor General of India

y Pitts India Act

Greater Government Controly Resignation ofHastings

y Impeachment Proceedings


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y Few Charges againstHastings

Genocide

Mismanagement

Arbitrary Law AdministrationCorruption

Private Business

Violation ofHumanity

y Brilliant Prosecution


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y Responsibility ofCorporations

y Requirement ofCorporate Governance

y Requirement to maintain the Trust of stakeholdersy Requirement to sustain business ethically

y Comparison with the 2008 Global Stock Market

Meltdown

y Reflection of Agency Theory and Shareholder Theory


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How beneficial is it to analyze the performance of acompany which existed around 400 years ago tounderstand basic principles of management in todaysscenario?


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It helps in understanding the reasons behind

y Evolution of Science of Management

y Evolution ofCorporate Governance

y Necessity of ethical government practices

y Laying down Guidelines/Rules and Regulations

y Need for safeguarding societys, companys and

individuals interesty Realization of moral and social responsibilities

y Involvement ofPolitical factors


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In the absence of the guidelines that should have been

set for better management, who is accountable:Hastings or East India Company?


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There are two perspectives:

y Company s Responsibility:

y The sole aim of the organization during that era was

to maximize profits of the companyy No definite guidelines were set as to what is morally or

ethically right or wrong

y Hastings Responsibility

y

Should have understood as an individual the moral &ethical implications

y Made money for himself


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Group 7

Chirag Parikh 142

Haresh Pandia 140Shaili Merchant 138

Namrata Parija 141

Manjaree Sowani 154

Amit Bhardwaj 104

Documents

Trial of Warren Hastings - Final