The Company has been complying with the Corporate Governance Code as per clause 49 of the Listing Agreement with the Stock Exchange. A report on the Corporate Governance is given below:
The Company's philosophy is to ensure highest levels of transparency and accountability in all facets of its operations, and equity and ethics in all its interactions with all its stakeholders, including shareholders, employees, clients, the government and lenders.
The Company's basic goal is to enhance the overall shareholder value, and all its business decisions and actions are oriented towards achieving this basic goal.
BOARD OF DIRECTORS
a) Composition of Board of Directors:
The Board of Directors of the Company consists of five directors (5) directors including 1 Whole Time Directors / Executive Directors, 2 Non-Executive Directors and 1 Independent women director and 1 independent director.
b) Details of the Board Meetings held during the year, attendance by Directors at the Board Meetings & the Annual General Meeting
During the financial year 2014-15, there were five Board Meetings held
During the year audit committee has not been constituted due to change in the board structure however now it has been constituted as on date.
REMUNERATION TO THE DIRECTORS
During the year under review none of the directors received remuneration
SHAREHOLDERS/INVESTORS GRIEVANCE COMMITTEE
Shareholders committee recently only constituted during the year under review board has supervise the shareholders grievances
There were no materially significant related party transactions with the Company's promoters, the directors or the management, their subsidiaries or relatives, etc. that may have potential conflict with the interests of the company at large. Whatever related party transactions were there, particulars thereof have been duly disclosed in the Balance Sheet.
a) Details of non-compliance by the Company, penalties, and strictures imposed on the Company by Stock Exchanges or SEBI, or any statutory authority, on any matter related to capital markets, during the last three years:
Trading of Company's shares had been suspended by the Stock Exchange, Mumbai .
MEANS OF COMMUNICATION.
a) The Company is not sending any Half-yearly report to each household of shareholders.
b) The Company has set up its own website for its Hotel under the domain name of "www.arunahotelslimited.com "
c) No presentations have been made to institutional investors or to the analysts.
d) Management Discussion & Analysis Report forms part of this Annual Report being sent to the shareholders of the Company.
9. GENERAL SHAREHOLDER INFORMATION:
A 53rd Annual General Meeting
Date and Time
Youth Hostel , 2nd Avenue Indira Nagar chennnai -600 020
B Financial Calendar for the year 2015-16 (Tentative)
54th Annual General Meeting
Board Meetings -
Results of the quarter ended 30th June 2015 Second week of August 2015
Results of the quarter ended 30th September 2015 Second week of November 2015
Results of the quarter ended 31st December 2015 Second week of February 2015
Results of the year ended 31st March 2016 Second week of May 2016
C Date of Book Closure
28/12/2015 to 30/12/2015
D Dividend Payment Date
Not applicable as the Company has not declared any dividend.
E The Company's Equity shares are listed on Stock Exchange at
The Company's shares are listed on the Bombay Stock Exchange,
F Stock Code
Trading Symbol at BSE - 500016 Demat ISIN Numbers in NSDL and CDSL - INE 957C01019
G Market Price Date
Trading of company's shares remains suspended. Hence these details could not be given.
H Performance in comparison with BSE Sensex
Trading of company's shares remained suspended during the year under review. Hence these details could not be given.
M/s. MCS Share Transfer Agents Ltd, 21/22, GR Tloor ,Kashiram Jamnadas blds P.D'Mello Road , Ghadiyal Godi, Masjid (East ), Mumbai -400009
J. Share Transfer System
The Physical share transfers are processed a unless the transfer documents are found invalid, the transfers are effected and the share certificates are returned to the transferees within a maximum period of 30 days. Those shareholders who want to demat their shares may hand over their share certificate(s) to the Depository Participant with whom they have demat account, and the DP will forward it to the RTA for confirmation. All demat requests are processed and if found correct, requisite confirmation given within 21 days of receipt.
K. Dematerlisation of Shares
As per the notification issued by SEBI, trading in the Company's shares is done only in demat form with effect from February 2001. As of 31st March 2015, about 36% of the Company's shares have been dematerialized.
L. Outstanding GDR etc.,
The Company has not issued any GDRS / ADRS / Warrants or any convertible instruments.