Page 69 - Kolte Patil AR 2019-20
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The Company is committed to adhere to the highest standards of   IEPF due to technical reasons, the Company will ensure the timely
            ethical, moral and legal conduct of business operations. To maintain   compliance in future.
            these standards, the Company encourages its employees who have   Kolte-Patil I-Ven  Townships (Pune) Limited and Kolte-Patil
            concerns about suspected misconduct whether by the Directors,   Real Estate Private Limited are the material subsidiaries of the
            employees, vendors or customers and to come forward and express   Company. Pursuant to Regulation 24A of SEBI (Listing Obligations
            these concerns without fear of punishment or unfair treatment.   and Disclosure Requirements) Regulations, 2015, the Secretarial
            The report received from employees will be reviewed by Audit   Audit Report of material subsidiaries are annexed to this report as
            Committee. The Directors and Management Personnel are obligated   Annexure VIII and IX.
            to maintain confidentiality of such reporting and ensure that the
            whistle blowers are not subjected to any discriminatory practices.   22. Secretarial Standards
            No person has been denied access to the Audit Committee.
                                                               The Institute of Company Secretaries of India had revised the
            The said  policy can be  accessed  at  Secretarial Standards on Meetings of the Board of Directors (SS-1)
            assets/uploads/corporate_governance/1571392266961516182.pdf  and Secretarial Standards on General Meetings (SS-2) with effect
                                                               from 01 October 2017. The Company is in compliance with the
            18. Nomination and Remuneration Committee          revised secretarial standards.
            The Nomination and Remuneration Committee of the Company
            comprises of following members:                    23. Corporate Governance Certificate
                                                               Report on Corporate Governance for the Financial  Year 2019-
             Name of the Member  Designation Category          20, as stipulated under SEBI (Listing Obligations and Disclosure
             Mr. Jayant Pendse   Chairman  Independent Director  Requirements) Regulations, 2015 is presented in a separate section
             Mr. Prakash Gurav  Member     Independent Director  forming part of the Annual Report.
             Mr. G. L. Vishwanath  Member  Independent Director
                                                               The Company has obtained the Compliance certificate for the
             Mrs. Manasa Vishwanath  Member  Independent Director  Financial Year 2019-20 from the Statutory Auditors i.e. M/s. Deloitte
             Mr. Umesh Joshi    Member     Independent Director  Haskins & Sells LLP for the compliance of conditions of corporate
             Mrs. Sunita Kolte  Member     Non-Executive Director   governance as stipulated in Regulation 34 (3) real with Part E of
                                                               Schedule V of SEBI (Listing Obligations and Disclosure Requirements)
            19. Managerial Remuneration                        Regulations, 2015.
            The Details required as per Rule 5(1) and (2) of the Companies   24. Risk Management Policy
            (Appointment and Remuneration of Managerial Personnel) Rules,   The Company has constituted Risk Management Committee
            2014 are given in Annexure V to the Directors report.  comprising 6 members, in which 3 members are Independent

            20. Employee Stock Option Scheme                   Directors. The Risk Management Committee has approved the Risk
                                                               Management Policy. The Committee monitors the policy, ensures
            The Nomination and Remuneration Committee of the Board of   that the Company is acting appropriately to achieve prudent
            Directors of the Company, inter alia, administers and monitors the   balance between the risk and reward and evaluates significant risk
            Employees’ Stock Option Scheme of the Company in accordance   exposures and assesses the management’s actions to mitigate the
            with the applicable SEBI Guidelines.               exposures.
            The applicable disclosures as stipulated under the SEBI Guidelines
            as on 31 March 2020 (cumulative position) with regard to the   25. Directors’ Responsibility Statement
            Employees’ Stock Option Scheme (ESOS) are provided in Annexure   Your Directors state that:
            VI to this Report.                                 a)  in the preparation of the annual accounts for the year ended
            21. Secretarial Audit Report                           31 March 2020, the applicable accounting standards read with
                                                                   requirements set out under Schedule III to the Act, have been
            Pursuant to Section 204 of the Companies Act 2013, the Company   followed and there are no material departures from the same;
            had appointed M/s. SVD & Associates, Company Secretaries, Pune
            as its Secretarial Auditors to conduct the secretarial audit of the   b)  the Directors have selected  such accounting policies  and
            Company for the Financial Year 2019-20. The Report of Secretarial   applied  them  consistently  and made  judgements  and
            Auditor for the Financial Year 2019-20 is annexed to this report as   estimates that are reasonable and prudent so as to give a
            Annexure VII. There was delay in transfer of unclaimed dividend to   true and fair view of the state of affairs of the Company as at

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