Kolte-Patil Group believes that Corporate Governance signifies ethical business behaviour in every sphere and with all constituents. This ethical business behavior can be ingrained in the character of the organization through tradition, value systems and commitment to the later as much as the spirit of laws and regulations. Corporate Governance emerges as the cornerstone of the Kolte-Patil Group's governance philosophy of the trusteeship, transparency, accountability and ethical corporate citizenship.

In our endeavor to adopt the best Corporate Governance and disclosure practices, the Company complies with all the requirements of the Clause 49 of the Listing Agreement(s), entered with National Stock Exchange of India Limited and Bombay Stock Exchange Limited.

Board of Directors

The Board of Kolte-Patil Developers Limited comprises of Executive and Independent Director(s) with wide range of skills and expertise.

Composition and category of Directors:

	Category	Name of the Director	Designation
	Executive Directors	Mr. Rajesh Patil Mr. Naresh Patil Mr. Milind Kolte Mrs. Sunita Kolte	Chairman and Managing Director Joint Managing Director Executive Director Executive Director
	Independent Directors	Mr. G.L. Vishwanath Mr. Achyut Watve Mr. Manish Doshi Mr. Jayant G Pendse	Independent Director Independent Director Independent Director Independent Director

Audit Committee

The Audit Committee of the Company has been constituted in line with the provisions of clause 49 of the Listing Agreement read with section 292A of the Companies Act, 1956. The audit committee is comprised of 5 members, in which 4 members are independent directors. Mr. Vinod Patil, Company Secretary of the Company acts as the secretary to the audit committee.

Composition of Audit Committee:

	Mr. Manish Doshi	Chairman
	Mr. G. L. Vishwanath	Member
	Mr. Achyut Watve	Member
	Mr. Milind Kolte	Member
	Mr. Jayant G Pendse	Member

Terms of Reference to Audit Committee:

	To oversee the Company’s financial reporting process and the disclosure of its financial information and to ensure that the financial statement is correct, sufficient and credible.
	To review, with the management, the annual financial statements prior submission to the board for approval, with particular reference to:   Matters required to be included in the Directors’ Responsibility Statement to be included in the Board’s report in terms of clause (2AA) of section 217 of the Companies Act, 1956   Changes, if any, in accounting policies and practices and reasons for the same   Major accounting entries involving estimates based on the exercise of judgment by management   Significant adjustments made in the financial statements arising out of audit findings   Compliance with listing and other legal requirements relating to financial statements   Disclosure of any related party transactions   Qualifications in the draft audit report.
	To review, with the management, the quarterly financial statements before submission to the board for approval;
	To review, with the management, performance of statutory and internal auditors, and adequacy of the internal control systems;
	To review the adequacy of internal audit function, if any, including the structure of the internal audit department, staffing and seniority of the official heading the department, reporting structure coverage and frequency of internal audit.

Shareholders and Investors' Grievance Committee:

The investors' grievances committee of the board looks into the redressal of the investors' complaints like non-receipt of annual reports, dividend payments etc. and matters related to change or deletion of name, issue of duplicate share certificates, dematerialization, rematerialization, transfer, transmission, consolidation, sub-division of shares, debentures and securities and other allied transactions. It delegates power to the executives of the Company to accomplish aforesaid objectives.

Composition of Shareholders and Investors' Grievance Committee:

	Name of the Member	Designation	Category
	Mr. G. L. Vishwanath	Chairman	Independent Director
	Mr. Manish Doshi	Member	Independent Director
	Mr. Achyut Watve	Member	Independent Director
	Mrs. Sunita Kolte	Member	Executive Director
	Mr. Jayant G Pendse	Member	Independent Director

Remuneration And Compensation Committee:

Remuneration committee of the board looks into the appointment, re-appointment, determination, fixation of the remuneration and revision in the remuneration payable to the existing executive directors of the Company from time to time, grant and allotment of stock options to the eligible employees etc.

Composition of Remuneration Committee:

	Name of the Member	Designation	Category
	Mr. Jayant G Pendse	Chairman	Independent Director
	Mr. Manish Doshi	Member	Independent Director
	Mr. G. L. Vishwanath	Member	Independent Director
	Mr. Achyut Watve	Member	Independent Director
	Mr. Milind Kolte	Member	Executive Director

The Secretarial department of the Kolte-Patil Developers Limited will make available to the Employees, the addresses and email addresses of the members of the respective Audit Committee/Board members.

Employees may send communications on an anonymous basis. If an employee chooses to disclose his or her identity, the same will be treated as confidential and the recipient shall not disclose the same. This would not have any impact on the employee’s performance appraisal, assignment of work or other matters related to employment with the group companies.