Quarterly Compliance Report on Corporate Governance

Quarter ending as on 30/09/2015

 

Particulars

Clause of Listing Agreement

Compliance Status Yes/ No

Remarks

I.

Board of Directors

49(I)

Yes

 

(A)

Composition of Board

49(I)(A)

Yes

 

 

Combination of Executive/Non- Executive Directors

49(I)(A)(i)

Yes

 

 

Number of Independent Directors

49(I)(A)(ii)

Yes

 

(B)

Non-executive Directors’ compensation & disclosures

49(I)(B)

Yes

 

(C)

Other provisions as to Board and Committees

49(I)(C)

Yes

 

 

Frequency of Board Meetings

49(I)(C)(i)

Yes

 

 

Directors’ Membership of Committees

49(I)(C)(ii)

Yes

 

 

Periodical Review of Compliance Certificates

49(I)(C)(iii)

Yes

 

 

Filling vacancy of Independent Directors

49(I)(C)(iv)

Yes

 

 

Code of Conduct

49(I)(D)

Yes

 

 

Code of Conduct on website

49(I)(D)(i)

Yes

 

 

Affirmation of compliance with Code of Conduct

49(I)(D)(ii)

Yes

 

II.

Audit Committee (ACB)

49(II)

Yes

 

(A)

Qualified & Independent Audit Committee

49(II)(A)

Yes

 

 

Constitution of Audit Committee

49(II)(A)(i)

Yes

 

 

Members of ACB to be financially literate

49(II)(A)(ii)

Yes

 

 

 Chairman of ACB to be independent director

49(II)(A)(iii)

Yes

 

 

 Chairman of ACB to be present in AGM

49(II)(A)(iv)

Yes

 

 

Invitees to ACB

49(II)(A)(v)

Yes

 

 

 Company Secretary to be Secretary of ACB

49(II)(A)(vi)

Yes

 

(B)

Frequency and quorum of Audit Committee Meetings

49(II)(B)

Yes

 

(C)

Powers of Audit Committee

49(II)(C)

Yes

 

(D)

Role of Audit Committee

49(II)(D)

Yes

 

(E)

Review of Information by Audit Committee

49(II)(E)

Yes

 

III.

Subsidiary Companies

49(III)

Yes

 

 

Independent Director to be on the Board of Material Unlisted Subsidiary

49(III)(i)

N.A.

No subsidiary company is a material unlisted subsidiary

 

Audit Committee to review financial statements of unlisted subsidiary

49(III)(ii)

Yes

 

 

 Board minutes of unlisted subsidiary to be placed at the Board Meeting of listed holding company

49(III)(iii)

Yes

 

IV.

Disclosures

49(IV)

Yes

 

  (A)

Basis of related party transactions

49(IV)(A)

Yes

 

 

(i) to  Audit Committee to review
 (ii) transactions with related parties

49(IV)(A)  (i) to (iii)

Yes

 

(B)

Disclosure of Accounting Treatment

49(IV)(B)

Yes

 

(C)

Board Disclosures – Risk Management

49(IV)(C)

Yes

 

(D)

Proceeds from public issues, rights issues, preferential issues etc.

49(IV)(D)

Yes

 

(E)

Remuneration of Directors

49(IV)(E)

Yes

 

 

(i) to (v) Remuneration of directors, their
shareholdings, etc. to be disclosed in the Annual Report, Corporate Governance Report, etc.

49(IV)(E)(i) to (v)

Yes

 

(F)

Management

49(IV)(F)

Yes

 

 

(i) Management discussion and analysis report to form part of Annual Report

49(IV)(F)(i)

Yes

 

 

(ii) Senior Management to disclose material transactions to Board

49(IV)(F)(ii)

Yes

 

(G)

Shareholders

49(IV)(G)

Yes

 

 

Directors’ resume to be disclosed to shareholders at the time of appointment / reappointment

49(IV)(G)(i)

Yes

 

 

(ia) Disclosure of inter-se relationships of directors

49(IV)(G)(ia)

Yes

 

 

Quarterly results, etc. to be put on website

49(IV)(G)(ii)

Yes

 

 

Constitution of Shareholders’ Grievance Committee

49(IV)(G)(iii

Yes

 

 

Expedite share transfer process

49(IV)(G)(iv)

Yes

 

V.

CEO/CFO Certificate to be submitted to the Board every year

49(V)

Yes

 

 

Report on Corporate Governance

49(VI)

Yes

 

 

Separate Section on Corporate Governance in the Annual Report

49(VI)(i)

Yes

 

 

Quarterly Compliance Report on Corporate Governance to SEs

49(VI)(ii)

Yes

 

VI.

Compliance

49(VII)

Yes

 

 

  1. Auditors’ Certificate regarding compliance of Corporate Governance Code

49(VII)(1)

Yes

 

 

  1. Disclosure of compliance with Corporate Governance Code to be made in Annual Report

49(VII)(2)

Yes

 

Place: Kolkata
Date: 12.10.2015


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