PHILOSOPHY OF COMPANY ON CORPORATE GOVERNANCE
Good Governance ensures adoption of best business practices, and accountability of the persons in-charge of the company's operations. Your Directors are committed to good Governance practices and the company has been sharing all important information about its various business segments and operations of the company through Directors report, Quarterly Results and Annual Reports. Further as required by the listing agreement, report on Corporate Governance is given below:
BOARD OF DIRECTORS:
As at 31st March, 2015 the Board comprised of 4 Directors.
During the Financial Year 2014 - 2015 the Board meet as per the requirements of the Board Meeting and for declaring the Quarterly Results and Annual Results.
* Smt Pushpa Devi Jaju was appointed as an Additional Directors on 24th March, 2015
A UDIT COMMITTEE:
The company has constituted Audit Committee of the Board of Directors to over seeing the Company's financial report process and the disclosure of is financial information's.
STAKESHOLERS RELATIONSHIP COMMITTEE (EARLIER NAMED AS SHAREHOLDERS / INVESTORS' GRIEVANCES COMMITTEE :
The company has constituted Shareholders / Investors' Grievances Committee of the Board of Directors to look into the specific complaints receivedfrom the share holders of the Company
Materially Significant Related Party Transactions:
There are no materially significant related party transactions of the Company which have potential conflict with the interest of the Company at large.
Mandatory and Non-mandatory requirements:
The Company has complied with all the mandatory requirements of Clause '49 of the Listing Agreement. The Company has fulfilled the following non-mandatory requirements as prescribed in Annexure XIII to the Clause 49 of the Listing Agreement.
(1) The Financial statement of the Company are unqualified.
(2) An office for the use of the Chairman is made available whenever required.
COMMUNICATION TO SHAREHOLDERS:
The Quarterly results of the company are published in widely circulated newspapers such as Free Press Journal & Navashakti (Marathi).
OFFICIAL NEWS RELEASES:-
Official News releases and media releases are sent to the Stock Exchanges.
MANAGEMENT DISCUSSION AND ANALYSIS :
The management discussion and analysis is apart of the Annual report.
DISCLOSURE REGARDING APPOINTMENT/RE-APPOINTMENT/CONTINUATION OF DIRECTORS:
Shri Rajesh Kumar Malpani Director liable to retire by rotation and offer himself for reappointment.
Shri Jugal Kishore Bihani appointed as Director on the Board of the Company on 29th May, 2013 and Smt Pushpa Devi Jaju was appointed as Additional Independent Director on the Board of the Company on 24th March, 2015 and being appointed as Independent Director for the term of five (5) years from the date 16th September, 2015
GENERAL SHAREHOLDER INFORMATION.
AGM ( Date ,Time and Venue)
On Wednesday the 16th September, 2015 at 11.00 a.m
1st April 2014 to 31st March 2015
Date of Book Closure
From 10th September, 2015 to 16th September, 2015. (Both days inclusive)
C-11/12, Ankur Co-op Hsg. Soc, Kadam Wadi Marg Lane, Marol Pipe Lines, Andheri Kurla Road, Andheri (East), Mumbai- 400059.
Listing on Stock Exchanges
Bombay Stock Exchange (BSE)
Annual Listing Fees for the year 2015-2016 have been paid to both the Stock Exchanges.
(vii) Stock Codes
BSE : 512337
(viii) Address for Correspondence Investor Correspondence and Shareholder Assistant Department
C-11/12, Ankur Co-op Hsg. Soc, Kadam Wadi Marg Lane, Marol Pipe Lines, Andheri Kurla Road, Andheri (East), Mumbai- 400059
5. CEO / CFO CERTIFICATION :
Shri Lalchand Karwa certified to the Board that:
(a) They have reviewed financial statements for the year and that to the best of their knowledge and belief:
(i) these statements do not contain any materially untrue statement or omit any material fact or contain statements that might be misleading;
(ii) these statements together present a true and fair view of the company's affairs and are in compliance with existing accounting standards, applicable laws and regulations.
(b) There are, to the best of their knowledge and belief, no transactions entered into by the company during the year which are fraudulent, illegal or violative of the company's code of conduct.
(c) They accept responsibility for establishing and maintaining internal controls for financial reporting and that they have evaluated the effectiveness of the internal control systems of the company, pertaining to financial reporting and they have disclosed to the auditors and the Audit Committee, deficiencies in the design or operation of internal controls, if any, of which they are aware and the steps they have taken or propose to take to rectify these deficiencies.
The above Certificate was placed before the Board Meeting held on 30th May, 2015
For Mahashree Trading Ltd.
Mumbai :30th May, 2015