SEBI has amended the existing clause 49 of the listing agreement and the revised clause 49 shall be effective from 1st October 2014. The revision was to bring corporate governance norms in line with the new Companies Act, 2013. The revised clause imposes more stringent requirements of corporate governance on listed companies. The present paper has tried to evaluate the corporate governance norms followed by IT industry in light with the revised clause 49. For this, 10 IT companies were selected. The study found that most of the selected IT companies complied with the requirements of revised clause 49 in an attempt to make disclosure more transparent and effective.