Corporate is a separate legal entity, whose affairs are to be commanded in a way that is very fiduciary. Conversely, fraudulent failure of a corporation shakes the conscience of one and raises the curiosity as to what is behind the veil- an honest or a deceptive governance model adopted, to satisfy the lust of garnering wealth by expropriation! It is understandable that, in a duty fiduciary, if there is done negative to the interest of anyone, it is criminal and not at all acceptable! To target such mentalities of the vested an alarm has been raised in this paper. Moreover, a detailed commentary is done to establish that the panacea lies in the fact to have an effective governing board which is truly democratic to diffuse the anomalies for neutrality.