REPORT ON CORPORATE GOVERNANCE
1. CORPORATE GOVERNANCE PHILOSOPHY:
Corporate Governance is an essential part of the management where the stress is on excellence in manufacture and delivery of the Company's products, which meet the highest quality standards. The Company's philosophy on Corporate Governance envisages the attainment of the highest level of transparency and accountability. It is aimed at safeguarding and adding value to the interests of various stakeholders.
2.BOARD OF DIRECTORS:
The Board of Directors of the Company comprises of following Directors:
a. Shri Sanjay A. Poy Raiturcar - Chairman & Managing Director
b. Shri Manohar S. Usgaonkar - Director
c. Shri Nitin A. Kunkolienkar - Director
d. Shri Ashok P. Panvelkar - Director
e. Shri Sudin M. Usgaonkar - Director
f. Smt. Binita S. Poy Raiturcar - Director
During the year under review, four Board meetings were held. The meetings were held on 23/05/2013,22/08/2013, 12/11/2013 and 01/02/2014.
Particulars of Managerial remuneration paid to Managing Director as per Section 198 of the Companies Act, 1956 is given in Notes on accounts for the year in item no. 30.
3. AUDIT COMMITTEE:
The Company has not constituted Audit Committee and all the financial matters are monitored by the Board of Directors. The Board of Directors are in the process of constituting the Audit Committee.
4. INVESTOR GRIEVANCE COMMITTEE:
As the Company has small number of shareholders and also the shares are not traded, Company has not constituted Investor Grievance Committee. However, Company is committed to address the investor grievance promptly without any delay monitored by the Managing Director.
The Company has not constituted Remuneration Committee. The remuneration of Managerial personnel is reviewed and approved by the Board of Directors. The Board of Directors are in the process of constituting the Remuneration Committee.
The previous three Annual General Meetings were held at the Registered office of the Company at Fabrica de Gas Carbonico, N. H. - 17, Nuvem, Salcete, Goa - 403 604 on:
• 29th August, 2011
• 27th August, 2012
• 27* September, 2013
No Extraordinary general meeting was held during the previous three years.
There were no transactions of material nature with the directors or the management or their subsidiaries or relatives having potential conflict with the interest of the Company during the year No penalties or structures have been imposed on the Company be any regulatory authority relating to the capital market during the year.
MEANS OF COMMUNICATION:
The Company submits its audited/unaudited financial results to the Stock Exchange regularly.
1. GENERAL SHAREHOLDER INFORMATION:
a. 42nd AGM : at the registered office of the company at Fabrica de Gas N. H. - 17, Nuvem, Salcete, Goa - 403 604
b. Financial Year : 2013-14
c. Book Closure : 25th September, 2014 to 29th September, 2014
d. Listing on Stock Exchange : Mumbai
e. Stock code :
Scrip ID - ZGOVPOOX
Scrip Code - 509586
Market Price - Share are not actively traded.
Share Transfer Agents :
Company has in house share transfer facility.
Dematerialisation of Shares :
Company's Shares are in physical form.
Plant Location :
The Company's plant is located at
a) Govind Poy Oxygen Limited, Arlem, Raia, Salcete, Goa - 403720.
b) Refillling gas station at N. H. - 17, Nuvem, Salcete, Goa - 403604
j. Address for Correspondence ;
Govind Poy Oxygen Limited Fabrica de Gas Carboncio, N. H. - 17, Nuvem, Salcete, Goa - 403 604. Tel/Fax: (0832) 2791703 Email: email@example.com
For and on behalf of the Board
Sanjay A. Poy Raiturcar
DATE : July 28, 2014
PALCE : Panaji, Goa.