Lack of ethical grounding in corporate governance is the reason behind scandals like the one involving diamantaire Nirav Modi in India, just as absence of values in business practices triggered global accounting scandals like Enron and WorldCom, says Ajit Parulekar, Director, Goa Institute of Management, the state's top B-school.

Speaking to IANS following the announcement of a six-month intensive workshop for the management school's faculty and Board of Governors on Transformative Teachers conducted by The Dalai Lama Center for Ethics and Transformative Values at Massachusetts Institute of Technology (MIT), Parulekar also said that after the workshop the institute's trained faculty would work with primary schools in Goa to promote value-based education.