CORPORATE GOVERNANCE REPORT FOR THE YEAR 2014-2015
1. CORPORATE GOVERNANCE AND COMPANY'S
PHOLOSOPHY ON CORPORATE GOVERNANCE
Corporate Governance is about commitment to values and about ethical business conduct. It is about how an organization is managed. This includes its corporate and other structure, its culture, policies and the manner in which it deals with various stakeholders. Accordingly, timely and accurate disclosure of information regarding the nancial performance, future plans and material development affecting the Company, is an integral part of Corporate Governance. The Adoption of good Corporate Governance practices helps to develop a good image of the organization, keeps stakeholders satis ed and attracts best talent.
Your Company, as part of the Evonik Group, believes that sound Corporate Governance is critical to enhance and retain investors' trust and recognizes the importance of transparency and integrity in dealings at all levels. Accordingly, your Company is always keen to ensue that the business is carried on with integrity, honesty and fairness. The Company's philosophy is based on Accountability, Ethical conduct, Compliance with statutes in true spirit, Interest of all stakeholders, Transparency and Timely disclosure. The Company is in full compliance with all the mandatory requirements under Clause 49 of the Listing Agreement with the Bombay Stock Exchange. The Company has professionals on its Board of Directors.
2. BOARD OF DIRECTORS
2.1 Composition of Board
The Board of Insilco Limited consists of an optimum combination of Executive and Non-Executive Directors to ensure independent functioning of the Board. As on 31st March, 2015, the Board has 6 Members comprising 2 Executive and 4 Non-Executive Directors. Out of Non-Executive Directors, 2 are Independent Directors. The Chairman of the Board is an Independent Director. The Composition of the Board is in conformity with clause 49 of the Listing Agreement relating to the composition in terms of Non-Executive/Independent Directors. Changes during the financial year 2014-15 in the Board of the Company is explained in detail under the head "Directors & Key Managerial Personnel" in the Directors' Report of this Annual Report.
None of the Directors on the Board is a member of more than 10 Committees or Chairman of more than 5 committees as specified in Clause 49, across all the companies in which he is a Director. The Directors have made necessary disclosures regarding committee positions in other companies as at 31st March, 2015.
2.3 BOARD MEETINGS AND PROCEDURE
A. BOARD PROCEDURE
The tentative annual calendar of meetings is determined at the beginning of each calendar year. The Board meetings are governed by a structured agenda and agenda papers are supported by comprehensive background information to enable directors to take informed decisions. The Joint Managing Director and Company Secretary in consultation with other directors and members of Senior Management, finalize the agenda papers for the Board Meetings.
Detailed Agenda and other explanatory statements in defined agenda format are circulated well in advance before the meeting amongst the board members for facilitating meaningful, informed and focused decisions at the meetings. In case of exigencies or urgency, resolutions are passed by circulation.
The required information as enumerated in Annexure-X to the Listing Agreement is made available to the Board of Directors for discussions and consideration at Board Meetings. In addition to the information required under Annexure-X to the Listing Agreement, the Board is also kept informed of major events/items wherever necessary. The Managing Director and Joint Managing Director at the Board Meetings keeps the Board apprised of the overall performance of the Company.
Minutes of proceedings of Board Meetings are properly recorded. The draft Minutes are circulated amongst the members of Board for their comments. The final minutes of proceedings of meetings are entered in Minutes Book and signed by the Chairman of the Board within the prescribed timelines.
This includes Public and Private Companies.
In accordance with Clause 49, Chairmanships/Memberships of only Audit Committee and Stakeholders' Relationship Committees of all Public Limited Companies have been considered.
Mr. Frank Heinz Lelek was appointed as Managing Director w.e.f. 1st March, 2015.
Mr. Brijesh Arora was appointed as an Additional Director & Whole-time Director (designated as Joint Managing Director) w.e.f. 1st March, 2015.
Mr. Guido Johannes Christ was appointed as an Independent Director w.e.f. 29th April, 2014. Ms. Meng tang was appointed as an Additional Director w.e.f. 13th November, 2014.
The Board periodically reviews compliance reports made by the Managing Director/Joint Managing Director and Chief Financial Officer of laws applicable to the Company as well as steps taken by the Company to rectify the instances of non-compliances, if any.
B. DETAILS OF BOARD MEETINGS HELD DURING THE FINANCIAL YEAR 2014-15
Four Board Meetings were held during the Financial Year ended 31st March, 2015. The Board meets at least four times a year, with maximum time gap of one hundred and twenty days between any two meetings as prescribed under Clause 49 of the listing agreement.
D. CODE OF CONDUCT
The Code of Conduct of Insilco Limited is applicable to Directors, Senior Management Team and employees of the Company.
The Code of Conduct is available on Company's website www.insilcoindia.com .
All the members of the Board and Senior Management Personnel have affirmed compliance to the code as on 31st March, 2015.
A Declaration of Managing Director regarding compliance with Code of Conduct by Directors and Senior Management Personnel is attached as Annexure-V.
E. PREVENTION OF INSIDER TRADING CODE
In accordance with SEBI (Prevention of Insider Trading) Regulation, 1992, the Company has a Code of Conduct for Prevention of Insider Trading. All the Directors, employees at Senior Management and other employees who could have access to the unpublished price sensitive information of the Company are governed by this code. The Company has appointed Mr. Brijesh Arora, Joint Managing Director of the Company as Compliance officer under the said regulations.
3. COMMITTEES OF THE BOARD
There are seven Committees of the Board during the Financial Year 2014-15 namely:
1. The Audit Committee
2. The Nomination and Remuneration Committee
3. The Stakeholders' Relationship Committee
4. The Risk Management Committee
5. Delisting Committee
6. Complaints Committee (under Sexual Harassment Policy)
7. Share Transfer Committee
The terms of reference of the Committees are reviewed by the Board from time to time. Meetings of each Board Committee are convened by respective Committee Chairman. Matters requiring Board's attention/approval are placed before the Board after approval/recommendation from Committee. The minutes of the meetings of all Committees of the Board are placed before the Board for discussions/noting. The role and composition of these Committees alongwith terms of reference of these Committees and details of the Committee meetings held during the Financial Year 2014-2015 and related attendance are provided below:
3.1 AUDIT COMMITTEE
The Audit Committee of the Company is constituted in line with the provisions of Clause 49 of the Listing Agreement read with Section 177 of the Companies Act, 2013. The Audit Committee assists the Board in its responsibility for overseeing the quality and integrity of the accounting, auditing and reporting practices of the Company and its compliance with the legal and regulatory requirements. The Committee's purpose is to oversee the accounting and financial reporting process of the Company, the audits of the Company's financial statements, the appointment, independence and performance of the statutory auditors and the internal auditors and to meet out the requirements of Clause 49 of the Listing Agreement.
A. Terms of reference
The terms of reference of the Audit Committee covers all matters specified under Clause 49 of the listing agreement read with Section 177 of the Companies Act, 2013 which inter-alia includes the following:
The Audit Committee has the following powers:
1. To investigate any activity within its terms of reference.
2. To seek information from any employee and from the records of the Company.
3. To obtain outside legal or other professional advice.
4. To secure attendance of outsiders with relevant expertise, if it considers necessary.
The role of the Audit Committee includes the following:
1. Oversight of the Company's financial reporting process and the disclosure of its financial information to ensure that the financial statement is correct, sufficient and credible.
2. Recommending to the Board, the appointment, re-appointment and, if required, the replacement or removal of Statutory Auditors and the fixation of Audit Fees.
3. Review and monitor the auditor's independence and performance, and effectiveness of audit process.
4. Approval of payment to statutory auditors for any other services rendered by the statutory auditors.
5. Reviewing, with the management, the annual financial statements before submission to the Board for approval, with particular reference to:
• Matters required to be included in the Directors' Responsibility Statement to be included in the Directors' Report in terms of clause (c) of sub-section (3) of Section 134 of the Companies Act, 2013.
• Changes, if any, in accounting policies and practices and reasons for the same.
• Major accounting entries involving estimates based on the exercise of judgment by management.
• Significant adjustments made in the financial statements arising out of audit findings.
• Compliance with listing and other legal requirements relating to financial statements.
• Disclosure of any related party transactions.
• Qualifications in draft audit report.
6. Reviewing with the management, the quarterly financial statements before submission to the Board for approval.
7. Examination of the financial statement and the auditors' report thereon.
8. Reviewing, with the management, the statement of uses/ application of funds raised through an issue (public issue, rights issue, preferential issue, etc.), the statement of funds utilized for purposes other than those stated in the offer document/prospectus/notice and the report submitted by the monitoring agency monitoring the utilisation of proceeds of a public or rights issue, and making appropriate recommendations to the Board to take up steps in this matter.
9. Reviewing with the management, the performance of Statutory and Internal Auditors, adequacy of internal control systems & to ensure compliance of internal control systems.
10. Reviewing the adequacy of internal audit function, if any, including the structure of the internal audit department, staffing and seniority of the official heading the department, reporting structure, coverage and frequency of internal audit.
11. Discussion with Internal Auditors, any significant findings and follow up thereon and scope of Internal Audit.
12. Reviewing the findings of any internal investigations by the Internal Auditors into matters where there is suspected fraud or irregularity or a failure of internal control systems of a material nature and reporting the matter to the Board.
13. Discussion with Statutory Auditors before the audit commences, about the nature and scope of audit as well as post-audit discussion to ascertain areas of concern including observations of auditors.
14. To look into the reasons for substantial defaults in the payment to the depositors, debenture holders, shareholders (in case of non-payment of declared dividends) and creditors.
15. To review the functioning of the Whistle Blower Mechanism, if any.
16. Approval of Appointment of CFO (i.e. the whole time Finance Director or any other person heading the finance function or discharging that function) after assessing the qualifications, experience and background etc. of the candidate.
17. Carrying out such other function(s) as may be specifically referred to the Committee by the Board of Directors and/or other Committee(s) of Directors of the Company.
18. To review the following information:
• The management's discussion and analysis of financial condition and results of operations;
• Statement of significant related party transactions (as defined by the Audit Committee), submitted by management;
• All material individual transactions with related parties or others, which are not on an arm's length basis, together with management's justification for the same;
• Management letters / letters of internal control weaknesses issued by the Statutory Auditors;
• Internal audit reports relating to internal control weaknesses.
19. Approval or any subsequent modification of transactions of the Company with related parties.
20. Scrutiny of inter-corporate loans and investments.
21. Valuation of undertakings or assets of the Company, wherever it is necessary.
22. The appointment, removal and terms of remuneration of the Chief Internal Auditor if any shall be subject to review by the Audit Committee.
23. To review and monitor management responsiveness to findings and recommendations of Internal Auditors.
24. Review the Company's Compliance with employee's benefits plans.
25. Oversee and review the Company policies regarding information technology and management information systems.
As on 31st March, 2015, the Audit Committee has 3 Members comprising of 2 Non-Executive, Independent Directors and 1 Executive Director. The Chairman of the Audit Committee is an Independent Director. The Composition of Audit Committee meets the requirements of Section 177 of the Companies Act, 2013 and Clause 49 of the Listing Agreement.
All the members of the Committee are financially literate and at least one member possesses accounting or related financial management expertise. The quorum of the Committee is two members or one-third of its members, whichever is higher.
The Committee is headed by an Independent Director. The Chairman of the Audit Committee, Mr. Dara P. Mehta was present at the 26th Annual General Meeting of the Company held on 14th August, 2014 to answer the queries of shareholders. The Joint Managing Director, Company Secretary and Chief Financial Officer are permanent invitees to the Audit Committee Meetings. The representatives of the Statutory Auditors are invited to attend the Audit Committee Meeting. The representatives of Internal Auditors are invited to attend the Audit Committee Meeting as and when required. The Company Secretary of the Company acts as Secretary to the Committee.
C. Meetings and Attendance
The tentative annual calendar of committee meetings is determined at the beginning of each calendar year.
Details of Audit Committee Meetings held during the Financial Year 2014-2015
Four Audit Committee Meetings were held during the Financial Year ended 31st March, 2015.
The intervening period between two audit committee meetings was well with in the maximum gap of four months prescribed under Clause 49 of the Listing Agreement.
3.2 NOMINATION AND REMUNERATION COMMITTEE
A. Terms of Reference
1. It shall identify persons who are qualified to become directors and who may be appointed in senior management in accordance with the criteria laid down, recommend to the Board their appointment and removal and shall carry out evaluation of every director's performance.
2. It shall formulate the criteria for determining qualifications, positive attributes and independence of a director and recommend to the Board a policy, relating to the remuneration for the directors, key managerial personnel and other employees.
3. It shall, while formulating the remuneration policy ensure that -
(a) The level and composition of remuneration is reasonable and sufficient to attract, retain and motivate directors of the quality required to run the Company successfully;
(b) Relationship of remuneration to performance is clear and meets appropriate performance benchmarks;
(c) remuneration to directors, key managerial personnel and senior management involves a balance between fixed and incentive pay reflecting short and long-term performance objectives appropriate to the working of the Company and its goals.
The above terms of reference are in line with the provisions of the Companies Act, 2013 and clause 49 of the Listing Agreement.
As on 31st March, 2015, the Nomination and Remuneration Committee comprised of 4 Non-Executive Directors, out of which 2 are Independent Directors. The Chairman of the Nomination and Remuneration Committee is an Independent Director. The Composition of Nomination and Remuneration Committee meets the requirements of Section 178 of the Companies Act, 2013 and Clause 49 of the Listing Agreement.
C. Meetings and Attendance
Details of Nomination and Remuneration Committee Meetings held during the Financial Year 2014-2015
Four Nomination and Remuneration Committee Meetings were held during the Financial Year ended 31st March, 2015.
Mr. Frank Heinz Lelek ceased to be member of this Committee w.e.f. 1st March, 2015.
The Company Secretary of the Company acts as Secretary to the Committee.
D. Nomination and Remuneration Policy
A Nomination and Remuneration Policy of the Company has been approved by Nomination and Remuneration Committee and the Board of Directors of the Company. The said policy lays down the criteria for Directors'/ Key Managerial Personnel's appointment and remuneration including criteria for determining qualification, positive attributes, independence of Directors, criteria for performance evaluation of Executive and Non-Executive Directors (including Independent Directors) and other matters as prescribed under the provisions of the Companies Act, 2013 and the Listing Agreement. Remuneration to Executive Directors are being recommended and paid as per policy as and when required. The said policy of the Company is attached as Annexure-I to the Boards' report.
The remuneration is fixed keeping in view of the overall limit laid down under the Companies Act, 2013, qualification and experience of the appointee and overall financial performance of the Company. The remuneration of executive Directors of the Company is being paid as approved by the Board of Directors and Shareholders of the Company.
3.3 STAKEHOLDERS' RELATIONSHIP COMMITTEE
A. Terms of Reference
The Stakeholders' Relationship Committee looks into redressal of the shareholders and investors complaints like transfer of shares, dematerialization, issue of duplicate shares and other matters relating to investors grievances and investors relations. It also considers and resolves the grievance of security holders of the Company.
The Committee presently comprises of three directors. The Chairman of the Committee is a Non-Executive Independent Director.
Mr. Brijesh Arora was appointed as member of this Committee in the Board Meeting held on 12th February, 2015. This was consequent to retirement of Mr. Pankaj Khandelwal - Ex-Managing Director from the Board and Stakeholders' Relationship Committee w.e.f. close of business hours of 28th February, 2015.
C. Meetings and Attendance
Details of Meetings held during the Financial Year 2014-2015
Four Stakeholders' Relationship Committee Meetings were held during the Financial Year ended 31st March, 2015.
E. Name and Designation of Compliance Officer
Mrs. Sheetal Saluja was Compliance Officer of the Company till 19th February, 2015. However Mrs. Saluja resigned w.e.f. close of working hours of 19th February, 2015. The Nomination and Remuneration Committee and the Board have appointed Mr. Sarvesh Kumar Upadhyay w.e.f. 21st May, 2015 as Company Secretary and Compliance Officer of the Company.
The Contact details of Compliance Officer are as follows:
"The Corenthum" Office # 2312, 3rd Floor, 2nd Lobe, Tower-A, A-41, Sector-62, Noida-201309, Uttar Pradesh, India
Telephone Number(0120) 4307910-12
Fax Number(0120) 4165888
F. Details of the Investor complaints received and redressed
The Company addresses all investor complaints and grievances expeditiously and sends replies/ resolve issues within the prescribed time. The Status of total number of complaints received, resolved/pending during the Financial Year 2014-2015 is as follows:
3.4 RISK MANAGEMENT COMMITTEE
The Board has constituted a Risk Management Committee for identification and assessment of risks and minimization of risks by adopting various measures. The Committee comprises of all the Board Members of the Company. The framework for risk assessment and minimization thereto has been evaluated and Company takes adequate measures for mitigating such assessed risk. The Board has also constituted sub-committee of Risk Management Committee. This sub-committee of Risk Management Committee works and reports to Risk Management Committee under the guidance of Risk Management Committee. The sub-committee constitutes Managing Director and other senior management personnel. One meeting was held during the Financial Year 2014-15 on 12th February, 2015.
The Company Secretary of the Company acts as Secretary to the Committee.
3.5 DELISTING COMMITTEE
During the year, the Company went to the Shareholders of the Company for delisting its equity shares from the Bombay Stock Exchange. More information in this regard can be found in the Boards' Report attached to this Annual Report at heading "Delisting of Equity Shares of the Company".
This Committee met two times i.e. on 11th December, 2014 and 22nd January, 2015. All the members were present in those meetings.
3.6 COMPLAINTS COMMITTEE (UNDER SEXUAL HARASSMENT POLICY)
Pursuant to the Company's Sexual Harassment Policy a Complaints Committee has also been formed. As on 31st March, 2015, the said Committee was consisting of the following members:
As no complaints were received during the year under said policy, the Complaint Committee did not meet.
3.7 SHARE TRANSFER COMMITTEE
With a view to expedite the process of share transfer which are received in physical form, the Board had constituted a "Share Transfer Committee" which usually meets every fortnight to consider and approve the shares received for transfer, transmission, rematerialization etc. A summary of transfer/transmission of securities so approved by the committee are placed periodically at Board Meetings.
The Committee met 26 times during the year.
Pursuant to Clause 47(c) of the listing agreement, certificate on half yearly basis confirming due compliance of Share Transfer formalities by RTA and timely dematerlisation of shares as per SEBI (Depositories and Participants) Regulations, 1996 is obtained from a Practicing Company Secretary within one month of the end of each half of the Financial Year and the same is sent to stock exchange within prescribed time.
In addition, as stipulated by SEBI, a Reconciliation of Share Capital Audit Report by a Practicing Company Secretary for reconciliation of the Share Capital confirming that the total issued capital of the Company is in agreement with the total number of shares in physical form and total number of dematerialized shares held by NSDL and CDSL, is placed before the Board on a quarterly basis. A copy of the Audit Report is also submitted to the Stock Exchange.
The Company does not have any subsidiary.
6.1 Disclosures on material significant related party transactions
The required disclosures with respect to the related party transactions were duly made to Audit Committee on a quarterly basis in terms of Clause 49 of the Listing Agreement and other applicable laws.
There were no materially significant related party transactions of the Company which have potential conflict with the interest of the Company at large. Pursuant to the provisions of the Companies Act, 2013 and Accounting Standard 18, the related party transactions during the Financial Year 2014-15 have been disclosed in Form AOC 2 attached as Annexure-III and note 29 of Notes to Accounts to Financial Statements respectively.
6.2 Details of Non-Compliance by the Company, penalties and strictures imposed on the Company by the Stock Exchange or SEBI or any statutory authorities on any matter related to capital markets during last three years:
6.3 Whistle blower Policy and affirmation that no personnel have been denied access to the Audit Committee:
The Company has adopted a Whistle Blower Policy through which vigil mechanism of the Company has been laid down. The Company affirms that no personnel have been denied access to Audit Committee on any issue.
6.4 Details of compliance with mandatory requirements and adoption of the non-mandatory requirements of this clause:
The Company has complied with all the mandatory requirements of the Clause 49 of the Listing Agreement. The Company has not adopted any non-mandatory requirement of the Clause 49 of the Listing Agreement.
6.5 Disclosure of Accounting Treatment
There is no deviation in following the treatment prescribed in any Accounting Standards (AS) in the preparation of financial statements of the Company.
6.6 Details of Public Funding
We have not obtained any public funding during the Financial Year ended 31st March, 2015.
6.7 Inter-se Relationship between directors of the Company
Management discussion and analysis of results of operations and financial condition is included in the Annual Report for the Financial Year 2014-2015 and this report contains all the applicable information specified under Clause 49 of the Listing Agreement. The disclosures have been made by all Senior Management Personnel for the Financial Year 2014-2015 regarding all material, financial and commercial transactions where they have a personal interest, which may have a potential conflict with interest of the Company at large.
The brief resume of all the directors seeking appointment /re-appointment/ fixation of term are available in this report in the notice of the 27th Annual General Meeting. The Quarterly and Annual results of the Company are forwarded to Bombay Stock Exchange, where securities of the Company are listed. The quarterly financial statements as well as the annual financial statements are posted on the Company's website. Corporate announcements made by the Company from time to time are also posted on the Company's website.
9. CEO/CFO CERTIFICATION
The Certificate required under Clause 49(IX) of the Listing Agreement duly signed by Managing Director and CFO has been given to Board and attached as Annexure-VI to this report. As required by clause 49 of the Listing Agreement, the certificate signed by Managing Director and CFO was placed before the board of directors at its meeting held on 21st May, 2015.
The Company submits a quarterly compliance report on corporate governance signed by Compliance officer to the Stock Exchange within 15 Days from the close of every quarter. Such quarterly compliance reports on corporate governance are also posted on the Company's website.
The Practicing Company Secretary's certificate, as stipulated in Clause 49 of the Listing Agreement with Stock Exchange that Company has complied with conditions of corporate governance is annexed herewith. This certificate will be forwarded to the Stock Exchanges alongwith the Annual Report of the Company.
10. MEANS OF COMMUNICATION
Quarterly Results: The quarterly results of the Company are announced within 45 days of completion of each quarter. Audited Annual Results are announced within 60 days from the end of the financial year. The Company regularly intimates unaudited as well as audited financial results to the stock exchanges, immediately after these are approved by the Board. The quarterly and annual financial results are normally published in "Financial Express/ Mint Newspaper - All India Edition" (English Language) and "Jansatta/ Rashtriya Sahara" (Vernacular Language).
Annual Report: Annual Report containing inter-alia Audited Accounts, Directors' Report, Management Discussion and Analysis Report (MD&A), Auditors' Report, Corporate Governance Report including information for Shareholders and other important information is circulated to the members and others entitled thereto.
The Company also ensures that financial results are promptly and prominently displayed on Company's Website www.insilcoindia.com .
The Company also ensures that the details of its business, financial information, shareholding pattern, compliance with corporate governance, contact information of the designated officials of the Company who are responsible for assisting and handling investor grievances, details of agreements entered into with media companies and/or their associates are promptly and prominently displayed on its website www.insilcoindia.com .
The official news releases and presentation made to institutional investors/analysts, if any, whenever made by the Company, are also displayed on the Company's website www.insilcoindia.com .
11. GENERAL SHAREHOLDERS INFORMATION
11.1 Particulars of ensuing Annual General Meeting
Date 12th August, 2015
Time 10.30 A.M.
Venue A-5, UPSIDC Industrial Estate, Bhartiagram, Gajraula-244223, Uttar Pradesh.
The Company follows the period of 1st April to 31st March, as the Financial Year.
Book Closure dates
3rd August, 2015 to 12th August, 2015.
11.2 Financial Year Calendar 2015-2016 (Tentative)
Financial Year 2015-16
1st Quarter Results for quarter ending 30th June, 2015 :12th August, 2015
2nd Quarter Results for quarter ending 30th September, 2015 :October / November 2015
3rd Quarter Results for quarter ending 31st December, 2015: January / February 2016
4th Quarter Results for quarter/Annual Accounts for the period ending 31st March, 2016 :April / May 2016
28th Annual General Meeting :July /August 2016
11.3 Listing on Stock Exchange (With Stock Code)
Name and address of Stock Exchange
The Bombay Stock Exchange Limited (BSE),
25th Floor, Phiroze JeeJeebhoy Towers, Dalal Street, Mumbai-400001
Stock Code : 500211
11.4 Listing Fee
Annual listing fee for the year 2015-2016 has been paid to Bombay Stock Exchange.
11.5 ISIN No. in NSDL & CDSL
11.6 Registrar and Transfer Agent
M/s. MCS Share Transfer Agent Ltd., F-65, Ist Floor,
Okhla Industrial Area, Phase-I, New Delhi-110020
Contact Details are :
Phone Numbers Fax number Email Address
(011) 41406149-52 (011) 41709881
11.7 Share Transfer System
The application for Transfer, Transmission and issue of duplicate shares are received at the office of Registrar Transfer Agent, M/s. MCS Share Transfer Agent Limited or by Company at its registered office. The Transfers & Transmission of shares in physical form is processed within 12-15 days from date of receipt of documents complete in all respects.
11.8 Dematerialisation of Shares & Liquidity
The shares of the Company are in compulsory dematerialized segment and are available for trading system of both NSDL and CDSL.
The details of the no. of shares held in dematerialized form and physical mode as on 31st March 2015 are as follows:
11.9 Outstanding GDRs/ADRs/Warrants or any convertible instruments, conversion date and likely impact on equity
No GDRs/ADRs/Warrants or any convertible instruments has been issued by the Company.
11.10 Plant Location
Gajraula : A-5, UPSIDC Industrial Estate, Bhartiagram, Gajraula-244223, Uttar Pradesh, India
11.11 Address for Correspondence
i. All correspondence regarding transfer and dematerialization of share certificates should be addressed to our Registrar and Share Transfer Agent, M/s. MCS Share Transfer Agent Limited located at:
F-65, Ist Floor, Okhla Industrial Area, Phase-I, New Delhi - 110020
Following are the contact numbers:
Phone Numbers Fax number Email Address
(011) 41406149-52 (011) 41709881
ii. For any other information, the Shareholders may contact the Company Secretary at the Corporate Office of the Company situated at:
"The Corenthum", Office # 2312 , 3rd Floor, 2nd Lobe, Tower-A, A-41, Sector-62, Noida-201309, Uttar Pradesh, India
Telephone (0120) 4307910-12 Fax No.(0120) 4165888
Email address email@example.com