ABSTRACT
The disclosure practices of Wipro Limited, an Indian company incorporated in 1945, is traced over the 61 year period in this chapter. The chapter begins by focusing on the disclosure practice of Wipro on their Employee Stock Ownership Program (ESOP) initiated in 1985 and how this came to light in 2001. Wipro's first annual report of 1947 is compared with the fifty leading companies in the United Kingdom between 1920 and 1950 to contrast the standards of disclosure in India. The Companies Act, 1956, made significant enhancement to disclosures made by Indian companies. The annual report of 1957 is compared with the annual report of Hindustan Lever Limited to study the differences. The reports of the 1980s and 1990s reflect significant developments on the business front, in HR practices and reporting innovations. The chapter ends with Wipro's governance practices. The uniqueness of an independent Board right through its existence and an audit committee of the board set up in 1986 are some of the high points of the corporate governance practices.
