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Corporate governance has been the centre of attention for policy-makers and researchers alike. Given the scale of operations of the companies and the strong adverse impact of misgovernance on various stakeholders, the importance of ethical governance practices in companies has increased in recent times. Lawmakers have tried to tighten the governance norms by introducing new provisions in the law from time to time. Despite this, there have been several corporate scandals, resulting from misgovernance, that has shaken the confidence of the investors. The present study aims at understanding the various corporate frauds that took place in the recent past, the CG practices adopted and followed by the corporations under study, and the scale of loss for the shareholders. We also present some basic financial ratios calculated from the company reports available in the public domain, to test the financial robustness of these corporations, and in the end, we provide suggestions to the policymakers to strengthen the CG practices mandated by them.