Organizations are separate entities that owe their existence to the group of stakeholders. As such, they are responsible to act in a manner that adds value to the society at large and maximizes the value of the collective group of stakeholders, rather than merely focusing on shareholders. Corporate Governance is another important constituent of the group of Corporate Social Responsibility activities that is built on the three pillars of transparency, accountability and responsibility. These aim to ensure that an accurate financial picture of the company is presented to the public that can help them to take informed decisions. There is a direct link between ethicality and profitability and ethical and socially responsible businesses gain on account of loyal customer base and strong brand image.Companies owe their business activities to their stakeholders, as they are the reason behind the existence of the company. As such, stakeholders play a significant role in shaping of the ethical position and policies of the corporation. The basic aim of companies should be to maximize stakeholder’s wealth and this should be the guiding motive behind all transactions. However, on account of corruption and unethical activities on the part of the companies, there have been substantial losses to stakeholders’ wealth and this has raised a question over the sustainability of the business houses.