Page 65 - Kolte Patil AR 2019-20
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Internal control systems and their adequacy

            The internal control and risk    the Company and Group and involves   monitoring and support committees.
            management system is structured   a range of personnel who act in a   The control and risk committee and
            and applied in accordance with the   coordinated manner while executing   the head of the audit department work
            principles and criteria established in   their respective responsibilities. The   under the supervision of the Board-
            the corporate governance code of the   Board of Directors offers its guidance   appointed Statutory Auditors.
            organisation. It is an integral part of   and strategic supervision to the
            the general organisational structure of   Executive Directors and management,

             Human resources
            The Company believes that its    employee performance through a   to go beyond the scope of their work,
            intrinsic strength lies in its dedicated   planned reward and recognition   undertake voluntary projects that
            and motivated employees. As such,   programme. The Company aims to   enable them to learn and devise
            the Company provides competitive   create a workplace where every person   innovative ideas.
            compensations, an amiable work   can achieve his or her true potential.
            environment and acknowledges     The Company encourages individuals

             Cautionary statement

            This statement made in this section   assumptions and expectations of   external factors which are beyond the
            describes the Company’s objectives,   future events. The Company cannot   control of the Company. The Company
            projections, expectation and     guarantee that these assumptions   assumes no responsibility to publicly
            estimations which may be ‘forward   and expectations are accurate or will   amend, modify or revise any forward-
            looking statements’ within the   be realised by the Company. Actual   looking statements on the basis of any
            meaning of applicable securities laws   result could differ materially from   subsequent development, information
            and regulations. Forward–looking   those expressed in the statement   or events.
            statements are based on certain   or implied due to the influence of

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