REPORT ON CORPORATE GOVERNANCE FOR THE QUARTER ENDED
31ST MARCH, 2007
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 2005-06.

Affirmation of compliance for the year 2006-07 shall be obtained by 30th April, 2007. Declaration by CEO will also be duly incorporated in the Annual Report for the year 2006-07.
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 (IID) Yes  
(E) Review of Information by Audit Committee 49 (IIE) Yes  
III. Subsidiary Companies 49 (III) 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, wherever 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 issues etc., during the quarter
(E) Remuneration of Directors 49 (IV E) Yes Disclosed in the Annual Report for the year 2005-06.

Shall be disclosed in the Annual Report for the year 2006-07.
(F) Management 49 (IV F) Yes Formed part of the Annual Report for the year 2005-06.

Shall form part of the Annual Report for the year 2006-07.
(G) Shareholders 49 (IV G) Yes Formed part of the Annual Report for the year 2005-06.

Shall form part of the Annual Report for the year 2006-07.
V. CEO/CFO Certification 49 (V) Yes Complied in respect of financial year 2005-06.

Shall be complied for the financial year 2006-07.
VI. Report on Corporate Governance 49 (VI) Yes Formed part of the Annual Report for the year 2005-06.

Shall form part of the Annual Report for the year 2006-07.
VII. Compliance 49 (VII) Yes Sub-clause (1) – formed part of the Annual Report for the year 2005-06.

Shall form part of the Annual Report for the year 2006-07.

Sub-clause (2) – Non-mandatory. Disclosure made in the Annual Report for the year 2005-06.

Disclosure shall be made in the Annual Report for the year 2006-07.