This paper tries to find the crossroads between CSR and CG,and itsacquired undeniably high degree of relevance due to the emergence of the concept of self-regulation and government policies. India as an emerging economy is on the path of transformation that forms a convergence between its governance and CSR. The essential of good governance in the backdrop of CSR enlightens the concept of ethical values. The probing challenges of the two percentage CSR paradigm (Forbes India, 2014) passed by the government of India in its new company’s bill are the highlight of this paper.The difference in the contribution made in CSR by the Indian corporate houses is the area of concern.