MIME-Version: 1.0 Content-Location: file:///C:/EA69C638/Clause-49-CorpGover30Sept2008.htm Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii" ISPAT INDUSTRIES LIMITED

 

ISPAT INDUSTRIES LIMITED

 

Report on Corporate Governance for the Quarter ended on 30th September, 2008

 

 

P= articulars

C= lause of Listing agreement

Compliance Status Yes/No

R= emarks

I. Board of Directors

49 I

 

 

(A) Composition of Board

49 (IA)

Y= es

 

(B) Non-executive  Directors’  compensation  & disclosures

49 (IB)

Yes

 

(C) Other provisions as to Board and Committe= es

49 (IC)

Yes

 

(D) Code of Conduct

49 (ID)

Yes

C= ompliance affirmed for the year 2007-08 and declaration by CEO has been duly incorporated in the Annual Report for the year 2007-2008.

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A= ffirmation of compliance for the year 2008-09 shall be obtained by 30th A= pril 2009. Declaration by CEO shall also be incorporated in the Annual Report = for the year 2008-09.

I= I. Audit Committee

49 (II)

 

 

(A) Qualified & Independent Audit Committee=

49 (IIA)

Yes

 

(B) Meeting of Audit Committee

49 (IIB)

Yes

 

(C) Powers of Audit Committee

49 (IIC)

Yes

 

(D) Role of Audit Committee=

49 II(D)

Yes

 

(E) Review of Information by Audit Committee

49 (IIE)

Yes

 

III. Subsidiary Companies=

49 (III)

Yes

 

I= V. Disclosures

49 (IV)

Yes

 

(A) Basis of related party transactions<= /o:p>

49 (IV A)

Yes

 

(B) Disclosure of Accounting Treatment

49 (IV B)

NA

S= hall be duly disclosed, in the event the treatment is different from Accounting Standards.

(C) Board Disclosures

49 (IV C)

Yes

 

(D) Proceeds from public issues, rights issues, preferential issues etc.<= o:p>

49 (IV D)

NA

P= roceeds from preferential allotment of equity warrants during the quarter ended J= une 2008 has been duly disclosed at the meeting of Audit Committee, as a part= of the declaration of unaudited financial results for the quarter ended 30th June, 2008. Such disclosure also formed part of published unaudited finan= cial results for the quarter ended 30th June 2008.

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(E) Remuneration of Directors

49 (IV E)

Yes

D= isclosed in the Annual Report for the year &= nbsp; 2007-08.

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S= hall be disclosed in the Annual Report for the year 2008-09.=

&nb= sp;

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P= articulars

C= lause of Listing agreement

Compliance Status Yes/No

R= emarks

(F) Management

49 (IV F)

Yes

F= ormed part of the Annual Report for the year 2007-08.

<= o:p> 

S= hall form part of the Annual Report for the year 2008-09.

(G) Shareholders

49 (IV G)

Yes

F= ormed part of the Annual Report for the year   2007-08.=

<= o:p> 

S= hall form part of the Annual Report for the year 2008-09.

V. CEO/CFO Certification

49 (V)

Yes

C= omplied in respect of Financial Year 2007-08. Also forms part of Annual Report for the year 2007-08.

<= o:p> 

S= hall be complied for the financial year 2008-09.

V= I. Report on Corporate

G= overnance

49 (VI)

Yes

F= ormed part of the Annual Report for the year 2007-08.

<= o:p> 

S= hall form part of the Annual Report for the year 2008-09.

VII. Compliance

49 (VII)

Yes

S= ub-clause (1) – Formed part of the Annual Report for the year 2007-08.

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S= hall form part of the Annual Report for the year 2008-09.

<= o:p> 

S= ub-clause (2) – Non-mandatory disclosure made in the Annual Report for the ye= ar 2007-08.

<= o:p> 

D= isclosure shall be made in the Annual Report for the year 2008-09.

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