2009-10 - Aditya Birla Nuvo, Ltd

BIRLA SUN LIFE INSURANCE COMPANY LIMITED
viii) Means of Communication
As per the IRDA guidelines on public disclosures, effective for the period ended 31 st March, 2010,
insurance companies are required to disclose their financials (Balance Sheet, Profit & Loss Account,
Revenue Account and Key Analytical Ratios) through new papers publication and host the same
on their websites within stipulated timelines.
Accordingly, the disclosures are hosted on BSLI’s website (www.birlasunlife.com) and adequate
steps have been taken to ensure publication of requisite disclosure in new papers.
SECTION B
REPORTING UNDER IRDA CORPORATE GOVERNANCE GUIDELINES (IRDA CG
GUIDELINES)
IRDA, with an objective to have a better governance framework, issued “Guidelines on Corporate
Governance for the Insurance Sector” (IRDA CG Guidelines) vide its circular no. IRDA/F&A/CIR/
025/2009-10 dated August 05, 2009 which is applicable to all the insurance companies including
BSLI with effect from April 01, 2010.
Circular dated August 05, 2009 was amended by IRDA vide its circular no. IRDA/F&I/CIR/F&A/
014/01/2010 dated January 29, 2010.
A detailed para wise report on compliance of above guidelines is attached as Annexure 2 of this
Corporate Governance Report.
SECTION C
REPORTING UNDER MCA VOLUNTARY GUIDELINES ON ‘CORPORATE GOVERNANCE’
AND ‘CORPORATE SOCIAL RESPONSIBILITY’ (MCA GUIDELINES)
The Ministry of Corporate Affairs has issued a set of Voluntary Guidelines on ‘Corporate Governance’
and ‘Corporate Social Responsibility’ in December, 2009. These guidelines are expected to serve as
a benchmark for the Corporate Sector and also help them in achieving the highest standard of
corporate governance.
Some of the provisions of these guidelines are already in place as reported elsewhere in this Report.
The other provisions of these guidelines are being evaluated and the Company will strive to adopt
the same in a phased manner.
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