Report on Corporate Governance
Arco Leasing Ltd. recognizes the ideals and importance of corporate governance and acknowledges its responsibilities towards all its shareholders, employees, business associates and regulatory authorities. The Company believes that a good corporate governance process aims to achieve a balance between the shareholders' interest and corporate goals of the Company. It aims to attain highest level of transparency, accountability and integrity to all its shareholders by implementing transparent corporate governance, thereby enhancing the value of the shareholders and their Company.
Accountability improves decision-making and transparency helps to explain rationale behind decision-making and reinforces the shareholders' confidence in the Company.
BOARD OF DIRECTORS
During the year 2014-15, Four Board Meetings were held on the following dates: 5th May, 2014, 30th July, 2014, 28th October, 2014 and 22nd January, 2015.
REMUNERATION TO DIRECTORS
The Company has not paid any remuneration to non-executive Directors. The Company has not paid sitting fees to the Directors for attending Board meetings during the year.
DETAILS OF DIRECTOR SEEKING RE-APPOINTMENT AS REQUIRED UNDER CLAUSE 49 OF THE LISTING AGREEMENT WITH THE STOCK EXCHANGE:
Re-appointment of Mrs. Meenakshi Ruia (Item No. 2 of the Notice convening the Annual General Meeting)
Mrs. Meenakshi Ruia joined the Board as a Non-Executive Director of the Company on 14th August, 2001.
Mrs. Ruia is qualified as B. Com. M. B. A.
Mrs. Meenakshi Ruia is holding Directorship of the Board of Directors of the following other companies in India: Arco Electro Technologies Private Limited and, Schori Blasting And Metal Spraying Private Limited.
Mrs. Ruia holds 2,700 Equity Shares in the Company.
The Board considers that her continued association would be of immense benefit to the Company and it is desirable to continue to avail Services of Mrs. Ruia as a Director. Accordingly, the Board recommends her re-appointment. Mrs. Ruia may be deemed to be interested or concerned in the Resolution at Item No.2.
Disclosures on materially significant related party transactions that may have potential conflict with the interest of the Company at large:
These disclosures have been made under related party transactions in note Sr. No. 6 to financial statements of the Company, which form part of the Annual Report.
No penalties or strictures were imposed on the Company by the Stock Exchange, Securities and Exchange Board of India or any other statutory authority, on any matters related to capital market, during the last three years.
MEANS OF COMMUNICATION
The Company's quarterly and half yearly un-audited results and audited annual results are sent to the Stock Exchange, Mumbai where the shares of the Company are listed. The results are also uploaded on Company's website.
WHISTLE BLOWER POLICY
The Company has not adopted any Whistle Blower Policy.
MANAGEMNENT DISCUSSION AND ANALYSIS
Management Discussion and Analysis also forms part of the Directors' Report.
GENERAL SHAREHOLDER INFORMATION
Annual General Meeting: 29th September, 2015 at 4.00 p. m.
Venue Regd. Office: Plot No. 123, Street No. 17, MIDC - Marol, Andheri East, MUMBAI 400093
Share transfers and all other investor related activities are attended to and processed at our Registered Office. For lodgment of transfer deeds and any other documents or for any grievances / complaints, kindly contact at the following address:-
Arco Leasing Limited,
Plot No. 123, Street No. 17, MIDC - Marol, Andheri East, MUMBAI 400093 Phone No.: 022-2821722 Fax: 022-28361760 E-mail: firstname.lastname@example.org
Name of the Compliance Officer : Mr. B. D. Daga
All the share transfers received up to 31-3-2015 have been processed.
FINANCIAL CALENDAR (tentative) FOR THE YEAR 2014-15
Board Meeting for considering Un-audited results for the First quarter ended 30-6-2014: 4th week of July, 2015
Board Meeting for considering Un-audited results for the Second quarter ended 30-9-2014 :4th week of October, 2015
Board Meeting for considering Un-audited results for the Third quarter ended 31-12-2014: 4th week of January, 2016
Board Meeting for considering audited results for the financial year ended 31-3-2015. :4th week of May, 2016
Annual General Meeting: September, 2016
DATE OF BOOK CLOSURE
The share transfer books would remain closed during the period from 25th September, 2015 to 29th September- 2015.
LISTING ON STOCK EXCHAGES
Bombay Stock Exchange Ltd. (Exchange Code: 511038)