Annual Report-FY 2012-13 - Timex Group India

B. NON MANDATORYREMUNERATION COMMITTEEThe details are given under the heading “Board Committees”CORPORATE POLICY MANUALThe Timex Group has a Corporate Policy Manual outlining the policies applicable to the Group Companies so that itpromotes ethical and moral behavior in all its business activities. Employees are free to report a violation of any law,mismanagement, gross waste or misappropriation of funds, a substantial and specific danger to public health and safety,or an abuse of authority without fear of retribution or even can request advice when in doubt about the propriety of someaction. Employees also may, if they wish, make anonymous reports of violations or other irregularities. The CorporatePolicy Manual is available on Timex group website at below stated link.The Company also has in place a “Women’s Committee” since 01 October 2003, to take care of cases of sexual harassmentin workplace. This Committee is chaired by a woman running an independent NGO and is assisted by a team of womenemployees.TRAINING OF BOARD MEMBERS: The Company’s Board of Directors consists of professionals with expertise in therespective fields. They endeavor to keep themselves updated with the global economic changes and various legislations.They attend various workshops and seminars to keep themselves abreast with the changing business environment.Chief Executive Officer (CEO) and Chief Financial Officer (CFO) Certification as per Clause 49(V) of the ListingAgreementThe Board of DirectorsTimex Group India LimitedNew DelhiCertification to the Board pursuant to clause 49(v) of the listing agreementThis is to certify that;a) We have reviewed financial statements and the cash flow statement for the year and that to the best of our knowledgeand belief:i) these statements do not contain any materially untrue statement or omit any material fact or contain statements thatmight be misleading;ii) These statements together present a true and fair view of the Company’s affairs and are in compliance with existingaccounting standards, applicable laws and regulations.(b) There are, to the best of our knowledge and belief, no transactions entered into by the Company during the year whichare fraudulent, illegal or violative of the Company’s code of conduct.(c) We accept responsibility for establishing and maintaining internal controls for financial reporting and we have evaluatedthe effectiveness of the internal control systems of the Company pertaining to financial reporting and we have disclosedto the auditors and the Audit Committee, deficiencies in the design or operation of internal controls, if any, of which weare aware and the steps we have taken or propose to take to rectify these deficiencies.(d) We have indicated to the auditors and Audit Committee;i) significant changes in internal control during the year over financial reporting during the year;ii) significant changes in accounting policies during the year and that the same have been disclosed in the notes to thefinancial statements; andiii) Instances of significant fraud of which we have become aware and the involvement therein, if any, of the managementor an employee having a significant role in Company’s internal control system over financial reporting.Sd/-M K BandyopadhyayActing Managing DirectorDated: 30 May, 201322Sd/-Sachin SelotCFO