2007-2008 - Cgglobal.com

TABLE
05
REMUNERATION COMMITTEE MEETING, FY 2008
NAME STATUS MEETING ATTENDED
MR SANJAY LABROO CHAIRMAN, INDEPENDENT DIRECTOR YES
DR OMKAR GOSWAMI MEMBER, INDEPENDENT DIRECTOR YES
MR GAUTAM THAPAR MEMBER, NON-EXECUTIVE DIRECTOR YES
MR GAUTAM THAPAR
Non-Executive Director
During FY 2008, one Remuneration
Committee meeting was held on 30 January
2008. The attendance record is given in Table 5.
SHAREHOLDERS’/INVESTORS’
GRIEVANCE COMMITTEE
The Company has a Shareholders’/Investors’
Grievance Committee, details of which are
given under section “Shareholders” in this
Report.
TABLE
06
RISK MANAGEMENT COMMITTEE MEETINGS, FY 2008
RISK MANAGEMENT COMMITTEE
The Risk Management Committee comprises
four Directors, of whom three are independent.
The composition is as under:
DR OMKAR GOSWAMI
Chairman, Independent Director
MR SCOTT BAYMAN
Independent Director
MR SANJAY LABROO
Independent Director
MR SUDHIR TREHAN
Executive Director
This Committee reviews the risks confronted
by the Company with respect to its business
areas, operations, as well as, financials and
validates the adequacy of insurance and
other risk mitigation measures proposed by
the Company’s businesses. It ensures that the
Company’s risk management mechanisms
provide an evaluation of the most significant
risks relative to strategy and objectives. During
FY 2008, a comprehensive evaluation of the risks
associated with the various dimensions of the
Company’s businesses – operations, financial,
forex, confidentiality of data, product liability,
spurious goods, as well as, legal & regulatory
was undertaken to assess the adequacy
of business processes, to control risks. The
Committee has also approved implementation
of a Global level insurance policy for uniform
coverage of risks at all locations.
During FY 2008, three Risk Management
Committee meetings were held: on 29 May
2007, 29 October 2007 and 29 January 2008. The
attendance record is given in Table 6.
Management
MANAGEMENT DISCUSSION AND
ANALYSIS REPORT
This is given as a separate chapter in the Annual
Report.
DISCLOSURE OF MATERIAL
TRANSACTIONS
Considering the size and nature of operations,
there were no related party transactions of a
materially significant nature in terms of the
Listing Agreement with Stock Exchanges that
could have a potential conflict with the interests
of the Company at large.
ACCOUNTING POLICIES
The Company has adopted accounting
treatments which are in conformance with
those prescribed by the Accounting Standards.
INSIDER TRADING
The Company has comprehensive guidelines
in accordance with the SEBI Regulations in
this regard, which advise and caution the
Directors, Management and Executives on
the procedures to be followed, whilst dealing
with the securities of the Company. The Insider
Trading Code framed by the Company helps in
ensuring compliance with these requirements.
NAME STATUS MEETINGS HELD MEETINGS ATTENDED
DR OMKAR GOSWAMI CHAIRMAN, INDEPENDENT DIRECTOR 3 3
MR SCOTT BAYMAN MEMBER, INDEPENDENT DIRECTOR 3 3
MR SANJAY LABROO MEMBER, INDEPENDENT DIRECTOR 3 0
MR SUDHIR TREHAN EXECUTIVE DIRECTOR 3 3
48 ANNUAL REPORT 2007–2008 CROMPTON GREAVES LIMITED