Atul Ltd 2019-20

Corporate Overview Statutory Reports Financial Statements 01-21 22-91 92-228 26 Atul Ltd | Annual Report 2019-20 Requirements) Regulations, 2015 is given at page number 56. Details about the number of meetings of the Board held during 2019-20 are given at page number 61. The composition of the Audit Committee is given at page number 64. All the recommendations given by the Audit Committee were accepted by the Board. 20.3 Whistle-blowing Policy The Board, on the recommendation of the Audit Committee, had approved a vigil mechanism (Whistle-blowing Policy). The policy provides an independent mechanism for reporting and resolving complaints pertaining to unethical behaviour, actual or suspected fraud and violation of the Code of Conduct of the Company and is displayed on the website (of the Company) at https://www.atul.co.in/investors/policies No personnel has been denied access to the Audit Committee. 20.4 Secretarial standards Secretarial standards as applicable to the Company were followed and complied with during 2019-20. 20.5 Prevention, prohibition and redressal of sexual harassment Details required under the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 and rules thereunder are given at page number 68. 21. Business Responsibility Report As per Regulation 34 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Business Responsibility Report is given at page number 76. 22. Dividend Distribution Policy As per Regulation 43A of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Dividend Distribution Policy is given at page number 82. 23. COVID-19 The COVID-19 pandemic is a worldwide crisis and has meant that the economies will have to operate alongside the disease, now as the attention has started shifting from lockdown to safe reopening. The Company strictly followed the guidelines issued by the local, state and central governments and beyond to protect the health and well-being of its workforce and ensured minimum disruption to its customers. The Company closed its manufacturing facilities for a month and is taking all possible steps required to adjust to the new normal of working and growing. The demand is expected to remain uncertain in the foreseeable future. There will be a delay of between six to 12 months in completing the projects already under implementation. There are other projects to be taken up for implementation, the Company will review their timings, if required. Atul Foundation took up initiatives to serve the society particularly in Valsad and Bharuch districts. The Foundation also contributed in its own small way to Gujarat Chief Minister Relief Fund and PM CARES Fund. 24. Acknowledgements The Board expresses its sincere thanks to all the employees, customers, suppliers, lenders, regulatory and government authorities, Stock Exchanges and investors for their support. For and on behalf of the Board of Directors Atul (Sunil Siddharth Lalbhai) April 28, 2020 Chairman and Managing Director Evaluation of Evaluation by Criteria Non-independent Director (Executive) Independent Directors Qualification, Experience, Availability and attendance, Integrity, Commitment, Governance, Transparency, Communication, Business leadership, People leadership, Investor relations Non-independent Director (Non-executive) Independent Directors Qualification, Experience, Availability and attendance, Integrity, Commitment, Governance, Independence, Communication, Preparedness, Participation and Value addition Independent Director All other Board Members Qualification, Experience, Availability and attendance, Integrity, Commitment, Governance, Independence, Communication, Preparedness, Participation and Value addition Chairman Independent Directors Qualification, Experience, Availability and attendance, Integrity, Commitment, Governance, Impartiality, Communication, Business leadership, People leadership and Meeting conduct Committees Board Members Composition, Process and Dynamics Board as a whole Independent Directors Composition, Process and Dynamics