2009-10 - Aditya Birla Nuvo, Ltd

BIRLA SUN LIFE INSURANCE COMPANY LIMITED
Para Guidelines Compliance status
5.3 Directors of the Company shall not be
convicted or be noticed adversely under any
law involving moral turpitude or any
professional body
Due-diligence enquiry to be conducted at
the time of appointment / re-appointment
of a Director
Declaration, in format of Annexure 2, to be
obtained before appointment / re-appointment
Annual Declaration from Directors to the
effect that information provided at the time
of appointment / re-appointment has not
changed subsequently and changes, if any,
are apprised to the Board
Directors to enter into a Deed of Covenant
(as per Annexure 3) which should be
approved by the Board
5.4 Company Secretary should be responsible
for proper conduct of Board Meetings with
adequate time to deliberate on pertinent
matters, in detail
Minutes to be recorded as soon as possible
and be circulated
New Directors should be apprised of
Companies governance polices and duties
and responsibilities of Directors
Briefings on changes in financial sectors (in
general) and Insurance sector (in particular)
vide formal and informal programmers
None of the Board members are convicted
or noticed adversely under any law
involving moral turpitude.
Necessary due-diligence was conducted
before appointment of Additional
Director(s) viz., Dr. Rakesh Jain,
Mr. Dikran Ohannessian & Ms. Tarjani
Vakil during the FY 2009-10.
Obtained at the time of appointment of
aforesaid Additional Directors
Annual Declaration to said effect obtained
from all the directors along with other
declarations under Companies Act, 1956 &
IRDA regulations.
Deed of Covenant was approved by the
Board of Directors at their meeting &
executed by all Directors.
Company Secretary is responsible for
convening and conducting Board &
Committee Meetings.
Adequate time is given for discussion of
Agenda items and any item of special
importance is discussed at length. In
addition, a time-sheet is also circulated to
all the Board members to ensure better time
management and allocation of adequate
time to all the agenda items.
Company has pre-defined TATs for
preparation, circulation and approval of
minutes, post every Board & Committee
Meetings.
Minutes of previous meeting is signed and
kept in safe custody as per the provisions
of Companies Act, 1956 & applicable
secretarial standards.
Adhered
Directors are in constant touch (vide person
meetings, telephonic conversations,
electronic mails, and other means of
communication) with each other and senior
management which allows them to keep
abreast of recent update in Financial as well
as Insurance sector.
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