RERA was implemented to acknowledge and solve discrepancies and issues of home buyers. By establishing rules for the sale of real estate and requiring developers to adhere to certain criteria, it protects the interests of homebuyers.
In the past few decades, business leaders as well as philosophers came up with a new phenomenon which is Corporate Social Responsibility (CSR). Under CSR Businesses are responsible to the society that exists around them. And under CSR only it becomes their moral duty to safeguard that society and help that society to grow.
Directors of companies that defaulted on statutory compliances from serving on the boards of other firms to improve corporate governance and check financial irregularities through the use of shell companies.