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1.
Philosophy
Transparency and accountability are the two basic tenets of Corporate Governance. Atul is proud to belong to a Group
whose Founder lived his life with eternal Values and built the business enterprises on the foundation of good governance.
The Company is committed to conducting business the right way, which means taking decisions and acting in a way
that is ethical and in compliance with the applicable legal requirements. It endeavours to continuously improve its
Corporate Governance performance with a view to earn trust and respect of all its stakeholders.
The Board of Directors (Board) is responsible for and is committed to good Corporate Governance and plays a critical
role in overseeing how the Management serves the short and long-term interests of the shareholders and other
stakeholders.
2.
Board
2.1 Board business
The normal business of the Board comprises:
2.1.1 Approving:
i)
appointment of the Cost Auditors
ii)
short, medium or long-term borrowings
ĿĿĿȴ
ČîƎĿƥîŕ ĚNJƎĚŠēĿƥƭƑĚ îŠē ūƎĚƑîƥĿŠij ċƭēijĚƥƙ
iv)
commission payable to the Directors within the limit set by the shareholders
v)
contracts in which the Director(s) are deemed to be interested
vi)
cost audit reports
vii)
creation of charge on assets in favour of lenders
viii) declaration of interim dividend
ĿNJȴ
ŏūĿŠƥ DŽĚŠƥƭƑĚƙȡ ČūŕŕîċūƑîƥĿūŠƙȡ ŞĚƑijĚƑƙ îŠē îČƐƭĿƙĿƥĿūŠƙ
NJȴ
ŕūîŠƙ îŠē ĿŠDŽĚƙƥŞĚŠƥƙ
NJĿȴ
ŞîƥƥĚƑƙ ƑĚƐƭĿƑĿŠij ƙƥîƥƭƥūƑNj ʈ ūîƑē ČūŠƙĚŠƥ
NJĿĿȴ
ƙîŕĚ ūlj ĿŠDŽĚƙƥŞĚŠƥƙ îŠē îƙƙĚƥƙ
NJĿĿĿȴ
ƭŠîƭēĿƥĚē ƐƭîƑƥĚƑŕNj ǛŠîŠČĿîŕ ƑĚƙƭŕƥƙ îŠē îƭēĿƥĚē ƭîŕ îČČūƭŠƥƙȡ ċūƥĺ ČūŠƙūŕĿēîƥĚē îŠē ūŠ î ƙƥîŠēîŕūŠĚ ċîƙĿƙ
including segment revenue, results and capital employed
2.1.2 Monitoring:
Ŀȴ
ƎūƥĚŠƥĿîŕ ČūŠǜĿČƥƙ ūlj ĿŠƥĚƑĚƙƥ ūlj ƥĺĚ qîŠîijĚŞĚŠƥȡ ƥĺĚ ūîƑē qĚŞċĚƑƙ îŠē ƥĺĚ ƙĺîƑĚĺūŕēĚƑƙȡ ĿŠČŕƭēĿŠij ŞĿƙƭƙĚ ūlj
corporate assets and abuse in related party transactions
ii)
implementation of performance objectives and corporate performance
iii)
effectiveness of the governance practices and making desirable changes
ĿDŽȴ
ƥĺĚ ūîƑē ŠūŞĿŠîƥĿūŠ ƎƑūČĚƙƙ ƙƭČĺ ƥĺîƥ Ŀƥ Ŀƙ ƥƑîŠƙƎîƑĚŠƥ îŠē ƑĚƙƭŕƥƙ ĿŠ ēĿDŽĚƑƙĿƥNj ūlj ĚNJƎĚƑĿĚŠČĚȡ ijĚŠēĚƑȡ ŒŠūDžŕĚēijĚȡ
perspective and thoughts in the Board
v)
the Management and providing strategic guidance while ensuring that encouraging positive thinking does not
ƑĚƙƭŕƥ ĿŠ ūDŽĚƑȹūƎƥĿŞĿƙŞ ƥĺîƥ ĚĿƥĺĚƑ ŕĚîēƙ ƥū ƙĿijŠĿǛČîŠƥ ƑĿƙŒƙ Šūƥ ċĚĿŠij ƑĚČūijŠĿƙĚē ūƑ ĚNJƎūƙĚƙ ƥĺĚ ūŞƎîŠNj ƥū
ĚNJČĚƙƙĿDŽĚ ƑĿƙŒ
2.1.3 Noting:
i)
general notices of interest of the Directors
ii)
minutes of the meetings of the Board and its committees and also the resolution(s) passed by circulation
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