Corporate governance is the components, cycles, and relations by which partnerships are controlled and coordinated. It specifies the designs and standards which distinguish the conveyance of freedoms as well as limitations among various members in the enterprise. Since corporate governance gives the structure to accomplishing an organization's goals, it incorporates essentially every circle of the executives, from activity plans and inside controls to execution estimation and corporate disclosure. Although Our Country has been a consistent performer in possessing good corporate governance but still in realm it faces barrier by the several issues and challenges that act as a hurdle in effective governance of the corporates in the nation. Therefore, in the light to this concern the author has written this paper to demonstrate some of the major challenges and issues faced in maintain and balancing the Corporate Governance. The paper briefly deals with the concept and importance of the corporate governance with India’s viewpoint and also the author has tried to highlight the major cause and concerns that highly results as a hurdle in implementing the principles of the corporate governance. Also, in this paper the author has tried to discuss the regulatory frameworks that bring the corporate governance standards into line with escaping the challenges of it. The canvas of Corporate Governance is very large. However, there are some important issues that should not be lost sight and it is with the same objective the author has formulated this paper in brief.