This paper traces the linkages between democracy and corporate governance. Tocqueville’s hypothesis highlights the idea that democracy eventually prevails in all spheres of organized activity. Corporate Governance being one, the cardinal principles of Democracy are an integral part of its functions. With the crumbling down of business enterprises across the world, because of inadequate and inappropriate system of control within the organization. The call for democratic credentials could be witnessed within and outside these organizations. This paper tries to highlight the importance of core democratic principles in the wake of heighten corrupt practices within the organization. Also this paper tries to bring forth the connection between transparency and accountability in the performance of business organization in the post-globalized era. As all business organization are social organization, henceforth, non -performance or non- observance of appropriate system of governance finally affects the health and wealth of the society .This perspective would also be looked into from an Indian experience.