The context of shareholding polity patterns and corporate governance

Corporate is an artificial legal person whose hands, eyes, ears are supposed to be the governing board! Yes, the board of directors of a company. It is also very specifically expected that the said 'board' is impartial and fairly dealing with the state of the affairs of the business to discharge its fiduciary duty, i.e., custodian of somebody's trust. But it is very strange that at times inappropriate, all of sudden, it comes to the fore, that the so and so company is yet another victim of fraudulent practices, resulting in its debacle. Straightforwardly, the fraudulent failure of the joint stock limited liability corporate is a direct question mark on the intention of its governing board! In this paper an alarm has been raised to highlight the legitimate aspiration of all those, who are betrayed by such failures!