BACKGROUND
The word 'steward' generally implies a person who is
responsible to look after the concerns or take care of its assigned
or targeted set of patrons. Coming to the topic under discussion,
the term 'Stewardship Code' has been applied as one of the
tools of corporate governance world over. It has been associated
with the act or the duty of the institutional investors such as
Alternative Investment Funds (AIFs), Mutual Funds, pension funds,
insurance companies, banks etc. vis-à-vis their
investors/policy holders whose money they invest in the listed
companies. As such, there is a fiduciary responsibility of such
institutional investors towards their investors as regards their
investments in such listed companies. It underscores the duty of
the institutional investors to raise any concern or make such
interventions in the affairs of the listed companies so as to
protect and uphold the interest of such investors of the
institutional investors. One may call it as
