Our Company is of a firm view that Corporate Governance must maintain global standards of corporate conduct as it is a systematic process whereby Companies are directed and controlled to enhance wealth generating capacity for the benefit of all its stakeholders.
Our Company is committed to best practices in the area of Corporate Governance, both in letter and spirit. Good Governance facilitates effective management and control of business, maintaining a high level of business ethics and optimizing the value for all Stakeholders.
The Corporate Governance Structure in the Company assigns responsibilities and entrusts authority among different participants in the organization viz. the Board of Directors, the Senior Management, Employees, etc.
COMPANY'S PHILOSOPHY ON CODE OF GOVERNANCE
The Company's philosophy on Corporate Governance is based on the principles of integrity, fairness, equity, transparency, accountability and commitment to values.
These principles have been elaborated as under:
- Independence and versatility of the Board
- Integrity and ethical behavior of all personnel
- Recognition of obligations towards all stake holders – Customers, Employees and Share holders
- Total compliance with laws in all environments in which the Company operates
The Company recognizes that good Corporate Governance is a continuing exercise and it is committed to follow the best practices in the overall interest of the stakeholders. The Securities and Exchange Board of India (SEBI) has specified certain mandatory governance practices, which are incorporated in Clause 49 of the Listing Agreement of Stock Exchanges. This section, along with the section on “Management Discussion & Analysis” and “Additional Shareholders’ Information” constitute the Company's compliance with Clause 49 of the Listing Agreement.