The purpose of this paper is to examine the effect of dominant concentrated shareholding patterns in India and the efficacy of corporate governance standards adopted to regulate challenges associated with it. The paper aims assess the origin of prevalent corporate governance standards in India and compare it with the unique form of problems it seeks to address. It is argued, that such standards have been merely transplanted from other jurisdictions without paying much attention to the specific reforms required in India. This has been shown by making a distinction between jurisdictions, like the U.S. and U.K., that follow the insider model as opposed to India that follows the outsider model of corporate governance.