ISPAT INDUSTRIES LIMITED
Report on Corporate Governance for the Quarter
ended on
|
Particulars |
Clause
of Listing agreement |
Compliance Status Yes/No |
Remarks |
|
I.
Board of Directors |
49 I |
|
|
|
(A) Composition of Board |
49 (IA) |
Yes |
|
|
(B) Non-executive Directors’
compensation & disclosures |
49 (IB) |
Yes |
|
|
(C) Other provisions as to Board and Committees |
49 (IC) |
Yes |
|
|
(D) Code of Conduct |
49 (ID) |
Yes |
Compliance affirmed for the
year 2006-07 and declaration by CEO duly incorporated in the Annual Report
for the year 2006-2007. Affirmation of compliance for
the year 2007-08 shall be obtained by 30thApril, 2007. Declaration by CEO will also be
incorporated in the Annual Report for the year 2007-08. |
|
II.
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 |
|
|
|
49 ( |
Yes |
|
|
IV.
Disclosures |
49 (IV) |
Yes |
|
|
(A) Basis of related party transactions |
49 (IV A) |
Yes |
|
|
(B) Disclosure of Accounting Treatment |
49 (IV B) |
NA |
Shall 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. |
49 (IV D) |
NA |
No money has been raised
through public issue etc., during the quarter. |
|
(E) Remuneration of Directors |
49 (IV E) |
Yes |
Disclosed in the Annual Report
for the year 2006-07. Shall be disclosed in the
Annual Report for the year 2007-08. |
Particulars |
Clause
of Listing agreement |
Compliance Status Yes/No |
Remarks |
|
(F) Management |
49 (IV F) |
Yes |
Formed part of the Annual
Report for the year 2006-07. Shall form part of the Annual
Report for the year 2007-08. |
|
(G) Shareholders |
49 (IV G) |
Yes |
Formed part of the Annual
Report for the year 2006-07. Shall form part of the Annual
Report for the year 2007-08. |
|
V.
CEO/CFO Certification |
49 (V) |
Yes |
Complied in respect of
Financial Year 2006-07. Also forms part of the Annual Report for the
year 2006-07. Shall be complied for the
Financial Year 2007-08. CEO/CFO Certification, in terms
of amended Clause 41, also obtained in respect of financial results for the
quarter ended |
|
VI.
Report on Corporate Governance |
49 (VI) |
Yes |
Formed part of the Annual
Report for the year 2006-07. Shall form part of the Annual
Report for the year 2007-08. |
|
|
49 ( |
Yes |
Sub-clause (1) – Formed part of
the Annual Report for the year 2006-07. Shall form part of the Annual
Report for the year 2007-08. Sub-clause (2) – Non-mandatory
disclosure made in the Annual Report for the year 2006-07. Disclosure shall be made in the
Annual Report for the year 2007-08. |