India saw a sea change in governance mechanism with the opening of trade between economies. The corporate governance (CG) structure came under the scanner post revelation of the Satyam scandal exposing the vulnerable and weak regulatory mechanism in India. The objective of the study is to review the various reports of CG issued by the regulatory bodies in India and identify emerging themes on CG mechanism. A thorough review is undertaken of the CG reports and recommendations under various regulatory bodies in India identifying themes. The recommendations were made keeping the changing Indian market dynamics in mind. The reports mainly highlight the importance and role of independent directors (IDs), gender diversity on the Boards, mandatory vs. non-mandatory compliances and disclosures, the listing regulation and mandatory CG reports by listed companies. The role of both the Board of Directors and Audit Committee are considered as important. The review highlights the key recommendations of the reports on CG mechanism in India. It gives an insight into the main themes dealt with by the regulatory bodies and the issues that might be still pending to be looked into. It might be helpful to the policy-making bodies in identifying the loopholes. It contributes to the academic literature on CG providing scope to researchers’ relevant themes for study in this area. The study might help to understand the significance of an effective CG structure in curbing fraudulent activities.