Vidyabharati International Interdisciplinary Research Journal (Special Issue) ISSN 2319-4979 Special Issue on Fostering Human Resilience-Catalyst for Management,Science and Technology (Oct. 2021) 462 ARTICULATION OF KAUTILYA’S VEDIC BASED SPIRITUALLY DRIVEN PRINCIPLES OF CORPORATE GOVERNANCE D. Ahuja 1 , T. Mittal 2 and P. Madan 3 Gurukul Kangri (Deemed to be University) 123 deekshaahuja1995@gmail.com 1 , tani.mittaltani@gmail.com 2 , pankaj.madan@gkv.ac.in 3 _______________________________________________________________________________ ABSTRACT Corporate Governance (CG) is the backbone of every organization's success. This paper outlines the CG principles given in Kautilya’s Arthashastra. Kautilya’s lessons are still applicable today and it can be used to current corporate management to achieve corporate governance's ultimate goal of providing value to shareholders and stakeholders. Based on the past studies, it was observed that there is a need to re-look at the ancient literatures based on the Vedic wisdom to provide an intelligent interpretation of the principles given in the ancient texts. The re-interpretation of the principles can be applied effectively in modern corporate management. The authors have employed Hermeneutics and Content analysis research methodology for exploring the principles given in the Kautilya Arthashastra. Future research could look at the implications of analyzing Kautilya's Arthashastra in other areas of corporate management, such as change management, theories of leadership, and project management. ________________________________________________________________________________ Keywords: Corporate Governance (CG), Vedic Wisdom, Kautilya Arthashastra, Vedas, Ancient India. Introduction The corporate sector's confidence and credibility have been diminishing in today's competitive globe. As a result, CG has become increasingly important. Good governance is crucial because it provides stakeholders with a source of confidence and credibility (Ismail et al., 2017). Corporate failures and scandals have emphasised the fragility of firms, particularly those with governance flaws. A series of corporate scams done in India is very vast starting from Harshad Mehta to Mehul Choksi, Nirav Modi, Chanda Kochhar, and many other corporate scams which impacted the economy of the country as a whole. The moral, value, and ethical frameworks within which an organization makes business decisions are referred to as CG. To differentiate governance from CG, we can consider what the government undertakes to be public governance. CG is the “process and structure that an organization uses to run its business to achieve profitability and accountability to meet the expectations of shareholders and other stakeholders” (Muniapan & Shaikh, 2007). CG measures primarily strive to increase investor commitment by ensuring that management is committed to selecting efficient projects, revealing important information, and eventually offering an acceptable return to investors, hence reducing the danger of fraud or deception (Mertzanis, 2011). According to the Organisation for Economic Cooperation and Development (2004), “an appropriate and efficient legal, regulatory, and institutional foundation must be established upon which all market participants can rely in establishing their private contractual relationships to ensure effective CG”. The majority of recent business scandals have been attributed to "poor" CG, it seems like a daily occurrence to hear about corporate scandals. The ramifications of a company's collapse are enormous, and they can be felt in every facet of society. For example, an investor's capital could be wiped out overnight, and job losses could ensue, among other things (Kyere & Ausloos, 2021). Understanding and using management principles and procedures efficiently and effectively is one of the cornerstones to successful CG. To manage effectively, managers must gain a thorough understanding of historical and current models, theories, and processes. Within all sorts of businesses, contemporary management practice is widespread in every element of human existence. The poor quality of public governance, according to Mr. Narayana Murthy, Chief Mentor of Infosys Technologies, is India's biggest concern today. Effective public governance is essential for a country's overall development (Das & Bharati, 2012). India has a rich history of governance. There are various studies related to good governance based on ancient Indian texts like Vedas (A. K.