(Pursuant to Clause 49 of the Listing Agreement with the Stock Exchanges)
Company's Philosophy on Code of Corporate Governance:
Sanchay Finvest Limited is committed to the adoption of the best governance practices and its adherence in the true spirit, at all times. The Company emphasizes on maintaining highest respect for the laws of the land and the rights of its stakeholders - both of which are the fundamental platforms on which the decision making powers of the Board of Directors are based. The Company remains firmly committed to this central theme and endeavours to improve these values on an ongoing basis.
COMMITTEE OF BOARD
To enable better and more focused attention on the affairs of the Corporation, the Board delegates particular matters to Committees of the Board set up for the purpose. The Committees prepare the groundwork for decision making and report at the subsequent Board meeting.
The Board is responsible for the constitution, co-opting and fixing the terms of reference for Committee members of the said Committees.
1. AUDIT COMMITTEE
The term of reference of this committee cover the matter specified for Audit Committee under clause 49 of the Listing Agreement.
The current Audit Committee of the Company comprises three Directors, who possess knowledge of the corporate finance & accounts.
The Committee comprises of the following Members:
1. Shri Nikhil Mathur (Chairman)
2. Shri Gulabchand Sharma
3. Shri Naresh Sharma
The company has conducted Audit Committee Meetings during the year on 4 Feb 2014,17 Oct 2014,14 Aug 2013,30 May 2013
2. NOMINATION AND REMUNERATION COMMITTEE'
Our Non-Executive Directors are paid sitting fees for each meeting of the Board attended by them. The appointment and remuneration of the Managing Director is governed by resolutions passed by the Board of Directors and shareholders of the Company, which covers terms of such appointment, read with the service rules of the Company. Remuneration paid to the Managing Director is recommended by the Remuneration Committee, approved by the Board and is within the limits set by the shareholders at the General Meetings.
3. SHARE HOLDERS/ INVESTOR'S GRIEVANCE COMMITTEE:
The Shareholders / Investor Grievance Committee looks into the redressal of shareholder and investors complaints like transfer of shares, non-receipt of balance sheet, non-receipt of declared dividends etc. and recommends measures to improve the level of investor services.
The Shareholders / Investor Grievance Committee comprises of the following Directors
1. Shri Gulabchand Sharma (Chairman)
2. Shri Nikhil Mathur
3. Shri Narottam Sharma
RELATED PARTY TRANSACTIONS:
Disclosures on materially significant related party transactions i.e. transactions of the Company material in nature, with its Promoters, Directors, Management, their relatives etc. that may have potential conflict with the interest of the Company at large. None of the transaction with any of the related parties was in conflict with the interest of the Company.
COMPLIANCE BY THE COMPANY:
There is no non-compliance by the Company or any penalties, strictures imposed by the Stock Exchange, SEBI or any other statutory authority on any matter related to capital markets, during the last three years.
WHISTLE BLOWER POLICY:
The company presently has no specific whistle blower policy but no personnel have been denied access to the audit committee. The company has not followed any differential treatment relating to accounting policies. There is no pecuniary relationship or transactions with non-executive directors.
GENERAL SHAREHOLDERS INFORMATION
Annual General Meeting Date & Time : 30'h September, 2014 at 11.00 am
Venue : 209, Rajani Bhavan, 569, M.G. Road, Indore(MP.)-452 001
Financial Calendars (Tentative) : 1st April, 2014 to 31s' March, 2015
Financial Reporting for the Quarter Ended 30th June 2014 : 14th August, 2014
Financial Reporting for the Quarter Ended 30th Sept 2014 : By Mid of November, 2014
Financial Reporting for the Quarter Ended 31st Dec 2014 : By mid of February, 2015
Financial Reporting for the Quarter Ended 31st March 2015 : By end of May, 2015
Annual General Meeting For the year ending 31st March, 2014 : 30th September, 2014
Book Closure Date : 22nd September, 2014 to 26'h September, 2014
Registered Office : 209, Rajani Bhawan, 2nd Floor, 569, M G Road, Jndore ,Madhya Pradesh ,452001
Corporate Office : 209, Rajani Bhawan, 2nd Floor, 569, MG Road, Indore, Madhya Pradesh 452001
Listing on Stock Exchange at : Bombay Stock Exchange Limited
Scrip Code : 511563
Dematerialization of Shares and liquidity:
The Company has established required connectivity with Central Depository Services (India) Limited and National Securities Depository Limited and the same are available in electronic segmentunderISINNo.INE654D01010.
Outstanding GDR's /ADR's /Warrants or any Convertible Instruments, conversion date and likely impact on Equity:
There are no GDR's / ADR's / Warrants or any convertible instruments pending conversion or any other instrument likely to impact the Equity Share Capital of the Company.
CODE OF CONDUCT DECLARATION
Pursuant to Clause 491(D) of the Listing Agreement entered into with the Stock Exchange, I hereby declare that all the board members and senior management personnel of the Company have affirmed compliances with the Code of Conduct for the year ended on 31st March, 2014
for and on behalf of the Board
SdV- Naresh Sharma