INDIAN RAYON AND INDUSTRIES LIMITED - Aditya Birla Nuvo, Ltd

More documents

Recommendations

Info

Corporate Governance ReportBOARD OF DIRECTORS20123Corporate GovernanceCorporate Governance pertains to systems, by which companies are directed and controlled, keeping in mind long-term interests ofstakeholders. It refers to a blend of law, regulation and voluntary practices, which enable the Company to attract financial and humancapital, perform efficiently, and thereby perpetuate it into generating long-term economic value for its shareholders, while respectinginterests of other stakeholders and the society as a whole.It aims to align interests of the Company with its shareholders and other key stakeholders. The incentive for companies, and those who ownand manage them, to adopt global governance standards, is that these standards will help them to achieve a long-term partnership withits stakeholders and achieve its corporate objectives efficiently. The principal characteristics of corporate governance are:• Transparency• Independence• Accountability• Responsibility• Fairness• Social ResponsibilityIn sum, corporate governance focuses on equitable treatment of all shareholders and reinforces that it is “Your Company” as it belongsto you, the shareholders. The Chairman and Board of Directors are your fiduciaries and trustees pushing the business forward inmaximising long term value for its shareholders.Corporate Governance at Indian RayonIndian Rayon and Industries Limited, a member of the Aditya Birla Group, believes that the foundation of the structure of corporategovernance is disclosure. Transparency and Openness are the basis of public confidence in the corporate system, and funds will flow tothe centers of economic activity that inspire trust.It is with this belief, Indian Rayon initiated the process of making substantial disclosures on the Company and its Board of Directors(Board)in the Annual Report for 1999-2000. While continuing to make similar disclosures, we have benchmarked Your Company’s corporatepractices with the guidelines recommended by the SEBI Committee on Corporate Governance. We believe, this report points the way tothe establishment of trust and marks an important milestone in the development of corporate governance at Indian Rayon.Composition of the BoardIndian Rayon’s Board consists fully of non-executive and independent directors. Four directors on the Board are Independent i.e ., theyhave no business relationship with the Company and one director represents Life Insurance Corporation of India.Director Executive/ No. of Outside Directorship Held Outside Committees #Non-executivePublic Private Member Chairman/ChairpersonMr. Kumar Mangalam Birla Non-Executive 14 1 - -Mrs. Rajashree Birla Non-Executive 8 1 - -Mr B L Shah Non-Executive 4 4 - 1 -Mr B R Gupta Non-Executive 5 8 - 7 1Mr H J Vaidya Independent 1 - - -Mr P Murari Independent 13 1 6 3Ms Tarjani Vakil 2 Independent 3 1 2 1Mr Siddhartha Sen 2 Independent 4 4 1 -Mr D. S. Dahanukar 3 Independent $ $ $ $Mr Ashwini Kumar Kanoria 3 Independent $ $ $ $
1 Independent director means director who apart from receiving director’s remuneration, do not have any other material pecuniary relationshipor transactions with the company, its promoters, its management or its subsidiaries, which in judgement of the board may affect independenceof judgement of the director.2 Joined the Board on 27th July 20003 Resigned from the Board on 27th July 20004 An employee of one of the Group Company5 Representative of Life Insurance Corporation of India (LIC)$ Latest data not available since they have ceased to be the Directors of the Company.# Includes all Committees of the Board across all Companies in which Directorships are held.Director’s interests in the company and Attendance RecordIndian Rayon believes that the shareholders must know the details of their Director’s interest in the Company, their attendance recordas well as contributions made by them. Indian Rayon has, accordingly, decided to make full disclosure on the Board Meetings as wellas attendance record of all Directors on the Board.Director Relationship with Sitting fees No. of Board Meetings Attendedother Directors paid during Last AGMthe yearheld on26th May, 2000Held AttendedMr Kumar Mangalam Birla Son of 10,000 5 5 NoMrs Rajashree BirlaMrs Rajashree Birla Mother of 8,000 5 4 NoMr Kumar Mangalam BirlaMr B L Shah - 16,000 5 5 YesMr B R Gupta - 13,000 5 4 YesMr H J Vaidya - 15,000 5 4 NoMr P Murari - 14,000 5 3 NoMr Siddhartha Sen* - 4,000 4 2 NoMs Tarjani Vakil* - 10,000 4 3 NoMr D. S. Dahanukar** - 3,000 1 1 NoMr Ashwini Kumar Kanoria** - 2,000 1 1 YesNOTE:None of the Directors have any business relationship with the CompanyThe Company has a policy of not advancing any Loans and paying any commission from profits to DirectorsThe Board does not comprise of any Executive Directors and thus no Salary & Perks were paid to any Directors* Joined the Board of Indian Rayon on 27th July, 2000** Resigned as Directors of the Company on 27th July, 2000.21
Page 1 and 2: BOARD OF DIRECTORSShri Kumar Mangal
Page 3 and 4: Simultaneously, we will concentrate
Page 5 and 6: Mavoor, which were rendered unviabl
Page 7 and 8: SEGMENTAL ANALYSIS AND REVIEWThe ne
Page 9 and 10: On the upside is the structural cha
Page 11 and 12: Benefiting from the shifting focus
Page 13 and 14: • Volume Enhancement: Efforts on
Page 15 and 16: Outlook for Indian Rayon’s Insula
Page 17 and 18: Net ProfitNet Profit has gone up fr
Page 19: Birla Sunlife Insurance Company Ltd
Page 23 and 24: 5. The Board meetings should be hel
Page 25 and 26: 13. The Company should provide a br
Page 27 and 28: Social ReportBeyond Business - Reac
Page 29 and 30: Environment ReportENVIRONMENTAL PRO
Page 31 and 32: Directors’ Report to the Sharehol
Page 33 and 34: Forays Into New Business Segments a
Page 35 and 36: AWARDS AND RECOGNITIONDuring the ye
Page 37 and 38: ii)iii)Insulator Division• Instal
Page 39 and 40: ANNEXUREForm-AForm for disclosure o
Page 41 and 42: xv)xvi)xvii)xviii)xix)xx)xxi)xxii)T
Page 43 and 44: Profit & Loss Account for the year
Page 45 and 46: SCHEDULE ‘3’ As at 31st As at 3
Page 47 and 48: SchedulesSCHEDULE ‘6’ (Contd.)I
Page 49 and 50: SCHEDULE ‘8’ As at 31st As at 3
Page 51 and 52: SCHEDULE ‘13’ 2000-01 1999-2000
Page 53 and 54: SchedulesSCHEDULE ‘19’SIGNIFICA
Page 55 and 56: SchedulesSCHEDULE ‘19’SIGNIFICA
Page 57 and 58: SchedulesANNEXURE IINFORMATION PURS
Page 59 and 60: BALANCE SHEET ABSTRACT AND COMPANY
Page 61 and 62: STATEMENT PURSUANT TO SECTION 212 O
Page 63 and 64: BALANCE SHEET AT 31 DECEMBER 2000IN
Page 65 and 66: BIRLA SUN LIFE INSURANCE COMPANY LI
Page 67 and 68: REVENUE ACCOUNTFor the period 4th A
Page 69 and 70: SCHEDULE-4BENEFITS PAID (NET)(Amoun
Page 71 and 72:
SCHEDULE-10FIXED ASSETS(Amount in R
Page 73 and 74:
Tax ProvisionThe tax provision as o
Page 75 and 76:
MANAGEMENT REPORTIn accordance with
Page 77 and 78:
BALANCE SHEETAs at 31st March, 2001
Page 79 and 80:
STATEMENT PURSUANT TO SECTION 212 O
Page 81 and 82:
BALANCE SHEETAs at 31st March, 2001
Page 83 and 84:
Shareholder Information1. Annual Ge
Page 85 and 86:
Relative Performance: Indian Rayon
Page 87 and 88:
15. Categories of Shareholding as o
show all

INDIAN RAYON AND INDUSTRIES LIMITED - Aditya Birla Nuvo, Ltd

Create successful ePaper yourself

Delete template?

Save as template?