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Antara masa lalu saya, sekarang dan masa depan, ada satu faktor yang umum: Hubungan dan Kepercayaan. Inilah dasar pertumbuhan kita. - Ketua Pendiri Shri Dhirubhai H. Ambani Sesuai dengan Klausul 49 Perjanjian Pencatatan dengan BSE Limited (BSE) dan Bursa Efek Nasional India Limited (NSE) dan beberapa praktik terbaik diikuti secara internasional mengenai Tata Kelola Perusahaan, laporan tersebut berisi Rincian sistem dan proses tata kelola perusahaan di Reliance Industries Limited adalah sebagai berikut: Di Reliance Industries Limited (RIL), Tata Kelola Perusahaan adalah tentang menjaga hubungan dan kepercayaan yang berharga dengan semua pemangku kepentingan. Di RIL, kami menganggap pemangku kepentingan sebagai mitra dalam kesuksesan kami, dan kami tetap berkomitmen untuk memaksimalkan nilai stakeholder, baik itu pemegang saham, karyawan, pemasok, pelanggan, investor, masyarakat atau pembuat kebijakan. Pendekatan terhadap penciptaan nilai ini berasal dari keyakinan kita bahwa sistem tata kelola yang baik, berdasarkan hubungan dan kepercayaan, merupakan bagian integral untuk menciptakan nilai abadi bagi semua orang. Kami memiliki kerangka kerja kebijakan yang didefinisikan untuk perilaku etis bisnis. Kami percaya bahwa setiap perilaku bisnis dapat menjadi etis hanya bila didasarkan pada sembilan nilai inti dari Kejujuran, Integritas, Penghormatan, Keadilan, Tujuan, Kepercayaan, Tanggung Jawab, Kewarganegaraan dan Keberanian. Pernyataan filosofi Perusahaan mengenai Tata Kelola Tata kelola Tata kelola perusahaan mencakup seperangkat sistem dan praktik untuk memastikan agar urusan Perusahaan dikelola dengan cara yang menjamin akuntabilitas, transparansi dan keadilan dalam semua transaksi dalam arti seluas-luasnya. Tujuannya adalah untuk memenuhi aspirasi pemangku kepentingan dan harapan masyarakat. Praktik tata kelola yang baik berasal dari budaya dinamis dan pola pikir positif organisasi. Di RIL, kami berkomitmen untuk memenuhi aspirasi semua pemangku kepentingan kami. Hal ini ditunjukkan pada imbal hasil pemegang saham, peringkat kredit yang tinggi, proses tata kelola dan lingkungan kerja yang berorientasi pada kinerja. Selain itu, pelanggan kami mendapatkan keuntungan dari produk berkualitas tinggi yang ditawarkan dengan harga yang sangat kompetitif. Inti dari Tata Kelola Perusahaan terletak pada mempromosikan dan memelihara integritas, transparansi dan akuntabilitas di jajaran manajemen eselon yang lebih tinggi. Tuntutan tata kelola perusahaan mengharuskan para profesional untuk meningkatkan kompetensi dan tingkat kemampuan mereka untuk memenuhi harapan dalam mengelola perusahaan dan sumber dayanya secara efektif dengan standar etika tertinggi. Dengan demikian menjadi penting untuk mendorong dan mempertahankan budaya yang mengintegrasikan semua komponen tata pemerintahan yang baik dengan secara hati-hati menyeimbangkan hubungan timbal balik yang kompleks antara tim Direksi, Komite Audit, Keuangan, Kepatuhan dan Assurance, Auditor dan manajemen senior. Di RIL, kepuasan karyawan kami tercermin dalam stabilitas manajemen senior kami, penurunan yang rendah di berbagai tingkat dan produktivitas yang jauh lebih tinggi. Di atas segalanya, kami merasa terhormat untuk menjadi bagian integral dari perkembangan sosial Indias. Rincian beberapa inisiatif semacam itu tersedia dalam Laporan Tanggung Jawab Sosial Perusahaan. Di RIL, kami percaya bahwa saat kami mendekati aspirasi kami untuk menjadi perusahaan global, standar tata kelola perusahaan kami harus menjadi acuan global. Oleh karena itu, kami telah melembagakan blok bangunan yang tepat untuk pertumbuhan di masa depan. Blok bangunan akan memastikan bahwa kita mencapai ambisi kita dengan cara yang bijaksana dan berkelanjutan. RIL tidak hanya mematuhi praktik tata kelola perusahaan yang ditentukan sesuai Klausul 49 Perjanjian Pencatatan dengan Bursa di India (Perjanjian Pencatatan), namun juga berkomitmen untuk menerapkan prinsip dan praktik tata kelola perusahaan yang baik. Ini terus berusaha menerapkan praktik terbaik yang diikuti diikuti di seluruh dunia. Ini adalah usaha kami untuk mencapai standar yang lebih tinggi dan memberikan pengawasan dan bimbingan kepada manajemen dalam implementasi strategi, pengelolaan risiko dan pemenuhan tujuan dan sasaran yang telah ditetapkan. Selama bertahun-tahun, kami telah memperkuat praktik tata kelola pemerintahan. Praktik ini mendefinisikan cara bisnis dilakukan dan nilai dihasilkan. Kepentingan pemangku kepentingan diperhitungkan, sebelum mengambil keputusan bisnis. RIL memiliki perbedaan yang secara konsisten memberi penghargaan kepada pemegang sahamnya selama lebih dari 36 tahun dari IPO pertamanya. Sejak saat itu, RIL telah berpindah dari satu gagasan besar ke gagasan lainnya dan tonggak sejarah ini terus mendorong usaha keras kita untuk mencapai tujuan yang selalu lebih tinggi. Kami telah tumbuh dengan Compounded Annual Growth Rate (CAGR) Pendapatan 27.3, EBITDA 27.1 dan Laba Bersih 28.1. Pasar keuangan telah mendukung kinerja sterling dan kapitalisasi pasar meningkat sebesar CAGR sebesar 33,2 selama periode yang sama. Dalam hal mendistribusikan kekayaan kepada para pemegang saham kami, selain memiliki rekam jejak pembayaran dividen yang tidak terputus, kami juga telah memberikan imbal hasil pemegang saham yang konsisten dan tak tertandingi sejak listing. Hasil dari inisiatif kami adalah jangkauan dan daya ingat yang semakin melebar. Basis pemegang saham kami telah berkembang dari 52.000 setelah IPO menjadi basis konsolidasi sekitar 3 juta. Selama beberapa dekade, RIL tumbuh selaras dengan perkembangan industri dan ekonomi Indias. Perusahaan telah membantu mengubah ekonomi India dengan proyek tiket besar dan eksekusi kelas dunia. Pencarian untuk membantu meningkatkan kualitas hidup Indias terus berlanjut. Ini berasal dari sebuah artikel dasar iman: Apa yang baik untuk India itu baik untuk Reliance. Kami percaya, Tata Kelola Perusahaan bukan hanya tujuan, tapi sebuah perjalanan untuk terus meningkatkan penciptaan nilai yang berkelanjutan. Ini adalah target yang bergerak ke atas yang secara kolektif kita upayakan untuk dicapai. Beberapa prakarsa kami untuk mempertahankan standar pemerintahan tertinggi dirinci di halaman berikut. Struktur Tata Kelola yang Layak dengan peran dan tanggung jawab yang didefinisikan Perseroan telah menerapkan struktur tata kelola internal dengan peran dan tanggung jawab yang jelas dari setiap penyusun sistem. Pemegang saham Perusahaan menunjuk Direksi, yang pada gilirannya mengatur Perusahaan. Dewan telah membentuk enam Komite untuk melaksanakan tanggung jawabnya secara efektif. Sekretaris Perusahaan RIL bertindak sebagai Sekretaris bagi keenam Komite tersebut. Ketua dan Direktur Pelaksana (CMD) memberikan arahan dan bimbingan secara keseluruhan kepada Dewan. Pada saat bersamaan, CMD bertanggung jawab atas keseluruhan implementasi. Dalam operasi dan fungsi Perusahaan, CMD dibantu oleh empat Direktur Eksekutif dan kelompok inti eksekutif tingkat senior. Mayoritas Dewan, 8 dari 14, adalah Direktur Independen. Di RIL, adalah keyakinan kami bahwa Dewan Tercerahkan secara sadar menciptakan budaya kepemimpinan untuk memberikan pandangan jangka panjang dan pendekatan kebijakan untuk meningkatkan kualitas pemerintahan. Tindakan dan keputusan Dewan Komisaris selaras dengan kepentingan terbaik Perusahaan. Hal ini berkomitmen untuk mencapai peningkatan nilai perusahaan secara berkelanjutan. Perusahaan telah menetapkan pedoman dan kerangka kerja yang telah ditetapkan untuk rapat Dewan dan Komite Dewan. Pedoman ini berusaha untuk mensistematisasikan proses pengambilan keputusan pada pertemuan Dewan dan Komite Dewan secara terinformasi dan efisien. Dewan mengevaluasi secara kritis arahan strategis Perusahaan, kebijakan manajemen dan efektivitasnya. Agenda untuk ulasan Dewan mencakup tinjauan strategis dari masing-masing komite Dewan, sebuah analisis rinci dan tinjauan rencana strategis dan operasi tahunan dan alokasi dan anggaran modal. Selain itu, Dewan meninjau kembali transaksi pihak terkait, kemungkinan risiko dan tindakan mitigasi risiko, laporan keuangan dari CFO dan laporan bisnis dari masing-masing kepala sektor. Interaksi yang sering dan terperinci mengatur agenda dan menyediakan peta jalan strategis bagi pertumbuhan Perusahaan di masa depan. Di RIL, kami berusaha untuk menjalankan bisnis kami dan memperkuat hubungan kami dengan cara yang bermartabat, khas dan bertanggung jawab. Kami mematuhi standar etika untuk memastikan integritas, transparansi, independensi dan akuntabilitas dalam menangani semua pemangku kepentingan. Oleh karena itu, kami telah mengadopsi berbagai kode dan kebijakan untuk melaksanakan tugas kami secara etis. Beberapa kode dan kebijakan ini adalah: Kode untuk Direksi dan Komite Dewan Pedoman Perilaku Bisnis dan Etika untuk Manajemen Personalia Manajemen Pedoman Perilaku Larangan Kode Etik Insider Kode Etik dan Kebijakan Bisnis Dokumen kebijakan mengenai Nilai dan Komitmen Manual tentang Tata Kelola Perusahaan Kode Kebijakan Pelaporan Keuangan, Keterbukaan Informasi Tanggung Jawab Bisnis Manual Audit dan checks and balances internal Ms. Deloitte Haskins Menjual LLP, Akuntan Chartered, Ms Chaturvedi Shah, Chartered Accountants, salah satu perusahaan audit terkemuka di Indias Dan anggota jaringan global firma akuntansi dan konsultasi independen Nexias dan Rajendra Co. Chartered Accountants, anggota PrimeGlobal, sebuah asosiasi dari Perusahaan Akunting Independen, mengaudit akun-akun Perusahaan. Perusahaan memiliki Sel Audit Internal selain perusahaan eksternal yang bertindak sebagai auditor internal independen, yang meninjau pengendalian internal dan sistem operasi dan prosedurnya. Sel Kepatuhan Hukum memastikan bahwa Perusahaan menjalankan bisnisnya dengan standar kepatuhan hukum, undang-undang dan peraturan yang tinggi. RIL telah menerapkan program kepatuhan hukum sesuai dengan standar internasional terbaik, didukung oleh sistem online yang kuat yang mencakup unit usaha Perseroan dan juga anak perusahaannya. Lingkup sistem ini mencakup berbagai undang-undang, seperti undang-undang industri dan perburuhan, undang-undang perpajakan, undang-undang perusahaan dan sekuritas dan peraturan kesehatan, keselamatan dan lingkungan. Inti proses kami adalah penggunaan teknologi yang ekstensif. Hal ini memastikan ketahanan dan integritas pelaporan keuangan, pengendalian internal, memungkinkan penggunaan dan perlindungan aset secara optimal, memfasilitasi penyusunan laporan keuangan dan laporan manajemen yang akurat dan tepat waktu serta memastikan kepatuhan terhadap peraturan perundang-undangan, peraturan dan kebijakan perusahaan. Inisiatif Manajemen untuk Kontrol dan Kepatuhan Sub-set inisiatif transformasi Bisnis yang dilakukan oleh manajemen untuk mendukung pertumbuhan, pelembagaan proses terbaik dan struktur pemerintahan yang lebih tinggi, didedikasikan untuk pengelolaan, pengendalian dan kepatuhan terhadap risiko di seluruh organisasi. RIL menerapkan pendekatan umum dan sistematis terhadap manajemen risiko, pengendalian dan kepatuhan secara terpadu. Perusahaan sedang dalam proses mengembangkan kerangka kepatuhan terpadu kelas dunia untuk memberikan kepastian yang memadai kepada Manajemen dan Direksi mengenai disain dan keefektifan kerangka pengendalian internnya. Kerangka kerja telah didokumentasikan untuk memberikan pandangan menyeluruh tentang: titik kontrol kunci proses organisasi yang bertanggung jawab Informasi di atas membentuk dasar bagi manajemen untuk mengembangkan dan memelihara Sistem Pengendalian Internal yang transparan dan efektif. Praktik Tata Kelola Terbaik RIL mempertahankan standar tertinggi tata kelola perusahaan. Perseroan berusaha keras untuk menerapkan praktik tata kelola perusahaan terbaik dengan tetap memperhatikan kode etik internasional Tata Kelola Perusahaan dan praktik perusahaan global yang terkenal. Beberapa norma tata kelola global terbaik yang diterapkan meliputi: Perusahaan memiliki Direktur Independen Lead yang ditunjuk dengan peran yang jelas. Semua sekuritas terkait pengarsipan dengan Bursa Efek dan SEBI ditinjau setiap kuartal oleh Komite Hubungan Pemantau Perusahaan (sebelumnya Komite Investigasi Keluhan Pemegang Saham) Direksi. Perusahaan memiliki Komite Dewan Independen untuk hal-hal yang berkaitan dengan tata kelola perusahaan dan pemangku kepentingan dan nominasi anggota dewan. Audit internal Perseroan dilakukan oleh auditor independen. Perseroan juga melakukan audit sekretariat yang dilakukan oleh sekretaris perusahaan independen yang sedang menjalani praktik secara keseluruhan. Laporan audit sekretaris triwulanan ditempatkan di hadapan Dewan Komisaris dan laporan audit sekretaris tahunan yang ditempatkan di hadapan Dewan, termasuk dalam Laporan Tahunan. Komite Resiko dan Jaminan Bisnis dan Fungsional (BRAC) Untuk mendapatkan penilaian yang lebih baik terhadap risiko bisnis dan fungsional dan untuk memantau efektivitas mitigasi risiko berdasarkan evaluasi risiko, konsep BRAC diperkenalkan yang terdiri dari personil manajemen senior di komite tersebut. Tinjauan Proaktif tentang praktik dan standar Tata Kelola RIL secara proaktif meninjau ulang praktik tata kelola dan standarnya antara lain dengan mempertimbangkan praktik terbaik dan perkembangan peraturan. Sepanjang tahun yang akan ditinjau, perkembangan penting berikut terjadi di bagian depan pemerintahan: Konstitusi Komite Tanggung Jawab Sosial dan Tata Kelola Perusahaan: Menimbang bahwa pekerjaan yang dilakukan oleh Perseroan di depan sosial, Dewan Direksi Perseroan telah membentuk Komite Tanggung Jawab Sosial dan Lingkungan (Komite CSRG). Komite CSRG terutama bertanggung jawab untuk merumuskan dan memantau pelaksanaan kerangka kebijakan tanggung jawab sosial perusahaan, kebijakan lain di bawah Manual Kebijakan Tanggung Jawab Bisnis dan untuk melihat masalah keberlanjutan dan hal-hal yang berkaitan dengan tata kelola secara keseluruhan. Komite Sumber Daya Manusia, Nominasi dan Remunerasi: Untuk merasionalisasi semua masalah terkait karyawan, sambil mematuhi Persyaratan Akta Perusahaan, 2013 Pasal 49 dari Perjanjian Pencatatan, Dewan Efek dan Bursa Efek India (Skema Opsi Saham Karyawan dan Skema Pembelian Saham Karyawan) Pedoman, 1999, sebagaimana telah diubah dari waktu ke waktu, Dewan Perseroan telah membentuk Komite Sumber Daya Manusia, Nominasi dan Remunerasi (Komite HRNR). Kerangka acuan Komite Remunerasi diberikan kepada Komite HRNR, Komite Remunerasi dibubarkan. Komite Audit: Kekuatan Komite Audit meningkat menjadi empat anggota dengan mencalonkan satu lagi Direktur Independen di Komite. Komite Hubungan Stakeholders: Dewan telah membentuk Komite Hubungan Pemegang Saham sesuai dengan ketentuan Undang-undang Perusahaan, 2013 dan Klausul 49 dari Perjanjian Pencatatan. Kerangka acuan Komite Keluhan Pemegang Saham Pemegang Saham (SIG) Komite Audit diberikan pada Komite Hubungan Pemangku Kepentingan dan oleh karena itu, Komite SIG telah bubar. Tanggung Jawab Sosial Perusahaan Dengan kepercayaan terhadap filosofi kewargaan perusahaan yang bertanggung jawab dan pertumbuhan yang berkesinambungan, RIL menganggap pembangunan institusi sosial sebagai salah satu tujuan utamanya. Dengan meningkatkan komitmennya, RIL membangun sebuah program pengembangan masyarakat yang komprehensif untuk mendukung inisiatif di bidang kesehatan, keselamatan, pendidikan, pembangunan infrastruktur, lingkungan, bantuan dan bantuan jika terjadi bencana alam, dukungan mata pencaharian, mempromosikan olah raga dan olahragawan dan kontribusi kepada Organisasi pembangunan sosial lainnya melalui kerja sama dengan beberapa LSM. Selain itu, RIL bertujuan untuk mengembangkan produk dan layanan berbasis teknologi dan ramah lingkungan untuk kepentingan jutaan konsumennya sambil memastikan standar keselamatan dan perlindungan lingkungan yang tinggi. RILs melaporkan perjalanan RIL memulai pelaporan tahunan atas kinerja triple-bottom-line dari Financial Year 2004-05. Semua laporan keberlanjutannya diyakinkan secara eksternal dan Global Reporting Initiative (GRI) tingkat aplikasi dicentang. Laporan perdana menerima status sesuai dari GRI dan semua laporan selanjutnya adalah GRI G3 Memeriksa laporan tingkat aplikasi. Dari Tahun Anggaran 2006-07, selain mengacu pada Pedoman Pelaporan Keberlanjutan GRI G3, RIL mengacu pada American Petroleum Institute Pedoman Pelestarian Isu Pelestarian Lingkungan Pelestarian Lingkungan Perminyakan Internasional dan Prinsip-Prinsip Global Compact PBB. RIL juga telah menyelaraskan kegiatan keberlanjutannya dengan bidang fokus Dewan Bisnis Dunia untuk Pembangunan Berkelanjutan. Dari Tahun Anggaran 2011-12, Reliance mengadopsi pedoman GRI G3.1 yang baru diterbitkan dan tambahan mengacu pada GRI G3.1 Tambahan Sektor Minyak Gas. RIL telah menyelaraskan laporan keberlanjutannya dengan Panduan Sukarela Nasional tentang Tanggung Jawab Sosial, Lingkungan dan Ekonomi Bisnis yang dibingkai oleh Pemerintah India. Sejalan dengan RIL berusaha menjadi pelopor dalam pelaporan keberlanjutan, RIL juga mengikuti laporan perdananya berdasarkan pedoman G4 terbaru yang diterbitkan oleh GRI. Bekerja menuju People, Planet, Profit Product RIL bekerja untuk mencapai bottom line keuangan yang berkelanjutan seiring dengan peningkatan modal dan pengembangan produk alami manusia. Hal ini berkomitmen untuk mengurangi dampak negatif dan meningkatkan dampak positifnya terhadap masyarakat dan juga lingkungan alam. Selain memberikan kontribusi ekonomi positif bagi bangsa dan masyarakat pada umumnya, ia telah memfokuskan energinya untuk mengidentifikasi area-area dampak tertentu. Ini berusaha untuk meringankan bagian masyarakat yang kurang mampu dan terpinggirkan dan memiliki keterlibatan aktif dengan mereka untuk memastikan pembangunan holistik mereka. RIL mendukung studi pengkajian siklus hidup yang dilakukan oleh Indian Center for Plastics in the Environment (ICPE) dan juga bekerja dengan Bureau of Indian Standards untuk merumuskan standar dan pedoman. Ini juga menyerap konsep konservasi sumber daya ke dalam operasinya. Ini berusaha mencapai tingkat efisiensi tertinggi dengan menerapkan teknologi terbaik yang tersedia. Tanggung Jawab Sosial, Lingkungan dan Ekonomi RIL berkomitmen untuk menciptakan nilai bagi bangsa dan meningkatkan kualitas hidup di seluruh spektrum sosio-ekonomi. RIL percaya bahwa Tanggung Jawab Sosial Perusahaan melampaui lingkup bisnis dan harus berfokus pada portofolio aset yang luas - manusia, fisik, lingkungan dan sosial. RIL sangat memperhatikan konservasi modal alam pada operasinya. RIL berkomitmen untuk bertanggung jawab atas pengelolaan sumber daya alam untuk menjalankan operasinya secara berkelanjutan. Untuk memperkuat komitmennya terhadap bisnis yang bertanggung jawab, Dewan Direksi telah menerapkan Pedoman Kebijakan Tanggung Jawab Usaha berdasarkan prinsip Pedoman Sukarela Nasional tentang Tanggung Jawab Sosial, Lingkungan dan Ekonomi Bisnis (NVG) yang dikeluarkan oleh Kementerian Urusan Korporat, Pemerintah India. Selaras dengan yang sama dan Klausul 55 dari Perjanjian Pencatatan, Laporan Tanggung Jawab Bisnis dilampirkan yang merupakan bagian dari Laporan Tahunan. Laporan ini selain Pelaporan Keberlanjutan RIL sesuai dengan Global Reporting Initiative (GRI). Dewan mengakui pentingnya komunikasi dua arah dengan pemegang saham dan memberikan laporan hasil dan kemajuan yang seimbang dan menanggapi pertanyaan dan masalah yang diangkat secara tepat waktu dan konsisten. Situs korporat RIL (ril) memiliki informasi untuk pemegang saham institusional dan ritel. Pemegang saham yang mencari informasi terkait kepemilikan saham mereka dapat menghubungi Perusahaan secara langsung atau melalui salah satu pusat layanan Investor dari Biro Administrasi Efek dan Agen Transfer yang tersebar di 82 kota di seluruh India, yang rinciannya tersedia di situs web Perusahaan. RIL memastikan bahwa keluhan dan saran dari pemegang sahamnya ditanggapi secara tepat waktu. Referencer pemegang saham komprehensif dan informatif ditambahkan ke laporan tahunan ini. Peran Sekretaris Perusahaan dalam keseluruhan proses tata kelola Sekretaris Perusahaan memainkan peran kunci dalam memastikan bahwa prosedur Dewan Direksi diikuti dan ditinjau secara berkala. Sekretaris Perusahaan memastikan bahwa semua informasi, rincian dan dokumen yang relevan tersedia bagi Direksi dan manajemen senior untuk pengambilan keputusan yang efektif pada pertemuan tersebut. Sekretaris Perusahaan terutama bertanggung jawab untuk membantu dan memberi saran kepada Dewan Direksi dalam menjalankan urusan Perusahaan, untuk memastikan kepatuhan terhadap persyaratan perundang-undangan yang berlaku dan Standar Sekretariat, untuk memberikan panduan kepada direksi dan untuk memfasilitasi pertemuan. Dia berinteraksi antara manajemen dan otoritas pengatur untuk urusan pemerintahan. Pengamatan Standar Sekretaris yang dikeluarkan oleh Sekretariat Lembaga India India Lembaga Sekretaris Perusahaan India (ICSI), salah satu badan profesional utama Indias, telah mengeluarkan Standar Sekretariat mengenai aspek penting seperti rapat Dewan, Rapat Umum, Pembayaran Dividen, Pemeliharaan Register dan Rekaman, Risalah Rapat, Transmisi Saham dan Debentures, Melewati Resolusi dengan Sirkulasi, Pembubaran Laporan Umum dan Tata Guna. Meskipun standar ini, seperti yang sekarang, bersifat merekomendasikan, perusahaan secara substansial mematuhi standar ini secara sukarela. Susunan Direksi direksi dan kategori Direksi Kebijakan Perusahaan adalah mempertahankan kombinasi optimal antara Direktur Eksekutif dan Non-Eksekutif. Susunan Dewan dan kategori Direksi adalah sebagai berikut: Tidak ada Direktur yang terkait dengan Direktur Direksi lainnya, kecuali Shri Nikhil R. Meswani dan Shri Hital R. Meswani, yang saling terkait satu sama lain sebagai saudara laki-laki . Pemilihan Direktur Independen Mengingat persyaratan keahlian di bidang ini, orang-orang terkemuka yang memiliki kedudukan independen di bidang profesi masing-masing, dan yang dapat secara efektif berkontribusi terhadap keputusan bisnis dan kebijakan Perusahaan dipertimbangkan oleh Komite Sumber Daya Manusia, Nominasi dan Remunerasi, untuk Pengangkatan, sebagai Direktur Independen di Dewan. Komite, antara lain, mempertimbangkan kualifikasi, atribut positif, bidang keahlian dan jumlah Direksi dan Keanggotaan yang diselenggarakan di berbagai komite perusahaan lain oleh orang tersebut. Dewan mempertimbangkan rekomendasi Komite, dan mengambil keputusan yang tepat. Setiap Direktur Independen, pada pertemuan pertama Dewan di mana dia berpartisipasi sebagai Direktur dan setelah itu pada pertemuan pertama Dewan di setiap tahun buku, memberikan sebuah pernyataan bahwa dia memenuhi kriteria independensi sebagaimana diatur dalam undang-undang. Direktur Utama Independen Direksi Perusahaan telah menunjuk Shri Mansingh L. Bhakta sebagai Direktur Independen Lead. Peran Lead Independent Directors adalah sebagai berikut: Menghadiri semua rapat Direksi Independen Untuk memastikan adanya arus informasi yang tepat dan tepat waktu kepada Direktur Independen Untuk menjalin hubungan antara Ketua dan Direktur Pelaksana, Manajemen dan Direktur Independen Untuk memimpin rapat Dewan dan Pemegang Saham saat Ketua dan Direktur tidak hadir, atau di mana dia adalah pihak yang berkepentingan Untuk melakukan tugas lain yang dapat didelegasikan kepada Direktur Independen Pemimpin oleh Direksi Direksi Independen Rapat Direksi Independen Direksi Independen Perseroan bertemu Setidaknya satu kali dalam setiap tahun keuangan tanpa kehadiran Direktur Eksekutif atau jajaran manajemen. Rapat tersebut dilakukan secara informal untuk memungkinkan Direksi Independen membahas hal-hal yang berkaitan dengan urusan Perusahaan dan mengemukakan pendapat mereka kepada Direktur Independen Lead. Direktur Independen Memimpin mengambil langkah yang tepat untuk menyampaikan pandangan Direksi Independen kepada Ketua dan Direktur Pelaksana. Pedoman Perilaku Bisnis dan Etika untuk Karyawan Manajemen Manajemen Pedoman Perilaku Bisnis dan Etika untuk Manajemen Personalia Pengelola (Kode Etik), sebagaimana diadopsi oleh Dewan, adalah Kode komprehensif yang berlaku untuk Direksi dan Personel Manajemen. Kode Etik ini, sambil meletakkan secara rinci, standar perilaku bisnis, etika dan tata kelola berpusat di seputar tema berikut: Pimpinan Perusahaan dan Personel Manajemen bertanggung jawab atas dan menetapkan standar perilaku yang tercantum dalam Pedoman ini dan untuk Memperbarui standar ini, jika sesuai, untuk memastikan relevansi, efektivitas, dan daya tanggap mereka yang berkelanjutan terhadap kebutuhan investor lokal dan internasional dan pemangku kepentingan lainnya serta untuk mencerminkan perkembangan perusahaan, hukum dan peraturan. Kode Etik ini harus dipatuhi dalam huruf dan dalam semangat. Salinan Kode Etik ini telah dimasukkan ke dalam situs web Perusahaan (ril). Kode Etik ini telah diedarkan ke Direksi dan Personel Manajemen, dan kepatuhannya ditegaskan setiap tahun. Sebuah deklarasi yang ditandatangani oleh Chairman dan Managing Director Perseroan diterbitkan dalam Laporan ini. Sebuah resume singkat Direksi, sifat keahlian mereka di bidang fungsional tertentu dan nama perusahaan di mana mereka memegang jabatan Direktur, Ketua Keanggotaan Komite Dewan, dan kepemilikan saham di Perusahaan diberikan dalam Laporan Tahunan ini. Rapat Dewan Komisaris, Rapat dan Prosedur Komite Dewan Melembagakan proses pengambilan keputusan Direksi adalah badan apex yang dibentuk oleh pemegang saham untuk mengawasi fungsi Perusahaan secara keseluruhan. Dewan memberikan dan mengevaluasi arahan strategis Perusahaan, kebijakan manajemen dan keefektifannya, dan memastikan bahwa pemegang saham kepentingan jangka panjang dilayani. Dewan telah membentuk enam Komite Dewan, yaitu Komite Audit, Komite Sumber Daya Manusia, Nominasi dan Remunerasi, Komite Komite Corporate Social Responsibility and Governance Committee, Komite Keuangan, Komite Hubungan Kesehatan, Keselamatan dan Lingkungan Kerja dan Stakeholders. Dewan berwenang untuk membentuk Komite fungsional tambahan, dari waktu ke waktu, tergantung pada kebutuhan bisnis. Pedoman internal Direksi untuk rapat Dewan Komisaris memfasilitasi proses pengambilan keputusan pada pertemuannya secara terinformasi dan efisien. Subbagian berikut menangani praktik pedoman ini di RIL. Penjadwalan dan pemilihan item agenda untuk rapat Dewan Minimal lima pertemuan Dewan yang telah dijadwalkan sebelumnya diadakan setiap tahun. Rapat Dewan tambahan diadakan dengan memberikan pemberitahuan yang sesuai untuk memenuhi kebutuhan spesifik Perusahaan. Dalam kasus urusan bisnis atau urgensi masalah, resolusi dilewatkan melalui peredaran. Rapat biasanya diadakan di kantor Perusahaan di Maker Chambers IV, 222 Nariman Point, Mumbai 400 021. Kepala berbagai kepala dinas Perusahaan disarankan untuk menjadwalkan rencana kerja mereka terlebih dahulu, terutama berkenaan dengan hal-hal yang memerlukan persetujuan keputusan diskusi di BoardBoard Rapat komite Hal tersebut dikomunikasikan oleh mereka kepada Sekretaris Perusahaan terlebih dahulu sehingga termasuk dalam agenda rapat Dewan Komisaris. Dewan diberikan presentasi yang meliputi segmen Keuangan, Penjualan, Pemasaran, segmen usaha utama Perusahaan dan operasi mereka, ikhtisar operasi bisnis anak perusahaan besar, lingkungan bisnis global, area bisnis Perusahaan, termasuk peluang bisnis dan strategi dan praktik manajemen risiko sebelum mengambil Mencatat hasil keuangan kuartalan Perusahaan. Hal-hal yang perlu diperhatikan sebelum Dewan Komisaris antara lain: Rencana bisnis tahunan dan anggaran termasuk anggaran modal dan informasi terkini Hasil triwulanan Perusahaan dan divisi operasi atau segmen bisnis Hasil Keuangan Tahunan Perusahaan, Laporan Keuangan, Auditor Laporan dan Laporan Direksi Risalah rapat Komite Audit dan Komite Dewan lainnya. Menunjukkan penyebab, permintaan, pemberitahuan tuntutan dan pemberitahuan denda, yang sangat penting Fatal atau kecelakaan serius, kejadian berbahaya, dan masalah limbah material atau polusi Setiap default material dalam kewajiban keuangan dan oleh Perusahaan atau substansial tidak membayar untuk barang yang dijual Oleh Perusahaan Setiap masalah, yang melibatkan klaim pertanggungjawaban produk publik atau produk yang sifatnya substansial, termasuk keputusan atau keputusan apapun, yang mungkin telah melewati tindakan tegas terhadap tindakan Perusahaan atau mengambil pandangan merugikan mengenai perusahaan lain yang dapat memiliki implikasi negatif terhadap Perusahaan. Rincian perjanjian usaha patungan atau kolaborasi Transaksi yang melibatkan pembayaran substansial terhadap goodwill, ekuitas merek atau kekayaan intelektual Masalah tenaga kerja yang signifikan dan solusi yang mereka usulkan. Perkembangan yang signifikan di bidang Sumber Daya ManusiaIndustrial seperti penerapan Skim Pensiun Sukarela, dll. Penjualan bahan baku investasi, anak perusahaan, aset, yang tidak dalam kegiatan usaha normal. Perincian tiga bulan eksposur valuta asing, dan langkah-langkah yang diambil oleh manajemen untuk membatasi risiko pergerakan nilai tukar yang merugikan, jika material Ketidakpatuhan terhadap persyaratan peraturan, undang-undang atau pencatatan, dan layanan pemegang saham, seperti pembayaran non-pembayaran dividen, penundaan transfer saham Jika ada), antara lain Penunjukan, remunerasi dan pengunduran diri Direksi Formasi penggantian anggota Komite Dewan Kerangka acuan Komite Dewan Risalah rapat dewan direksi anak perusahaan yang tidak terdaftar Pernyataan Direktur Independen pada saat ditunjuk secara pribadi Mengungkapkan kepentingan Direksi dan kepemilikan sahamnya Penunjukan atau pemindahan Dari Personil Manajerial Kunci (KMP) dan petugas satu tingkat di bawah KMP. Penunjukan Auditor Internal dan Auditor Sekretaris. Laporan Audit Sekretariat Tahunan Kuartalan yang disampaikan oleh Auditor Sekretariat Deklarasi dividen Ringkasan triwulanan dari semua pinjaman jangka panjang dibuat, bank garansi diterbitkan dan pinjaman dan investasi dilakukan Perubahan signifikan dalam kebijakan akuntansi dan pengendalian internal Pengambilalihan perusahaan atau akuisisi saham pengendali atau substansial dalam Perusahaan lain Pernyataan transaksi signifikan, transaksi dan pengaturan pihak yang memiliki hubungan istimewa yang dilakukan oleh anak perusahaan tidak terdaftar. Penerbitan surat berharga termasuk surat hutang Pengangkatan dan penetapan remunerasi Auditor sebagaimana direkomendasikan oleh temuan Audit Internal Komite Audit dan Laporan Audit Eksternal (melalui Komite Audit) Proposal untuk investasi besar, penggabungan, penggabungan dan rekonstruksi Status eksposur risiko bisnis, pengelolaan dan rencana tindakan terkait Pembuatan pinjaman dan investasi dana surplus Meminjam uang, memberikan jaminan atau memberikan keamanan sehubungan dengan pinjaman Pembelian kembali saham Urin oleh Perusahaan Diversifikasi bisnis Perusahaan Penjelasan singkat mengenai perkembangan perundang-undangan, perubahan dalam kebijakan pemerintah, antara lain dengan dampaknya, tanggung jawab Direksi yang timbul dari perkembangan tersebut. Kepatuhan Sertifikat yang memastikan kepatuhan terhadap semua undang-undang yang berlaku untuk Perusahaan Rekonsiliasi Modal Saham Audit Report under SEBI (Depositories and Participants) Regulations, 1996 Brief on information disseminated to the press The Chairman of the Board and Company Secretary, in consultation with other concerned members of the senior management, finalise the agenda for Board meetings. Board material distributed in advance The agenda and notes on agenda are circulated to Directors in advance, and in the defined agenda format. All material information is incorporated in the agenda for facilitating meaningful and focused discussions at the meeting. Where it is not practicable to attach any document to the agenda, it is tabled before the meeting with specific reference to this effect in the agenda. In special and exceptional circumstances, additional or supplementary item(s) on the agenda are permitted. Recording minutes of proceedings at Board and Committee meetings The Company Secretary records minutes of proceedings of each Board and Committee meeting. Draft minutes are circulated to Board Board Committee members for their comments. The minutes are entered in the Minutes Book within 30 days from the conclusion of the meeting. Post meeting follow-up mechanism The guidelines for Board and Board Committee meetings facilitate an effective post meeting follow-up, review and reporting process for decisions taken by the Board and Board Committees thereof. Important decisions taken at BoardBoard Committee meetings are communicated promptly to the concerned departmentsdivisions. Action-taken report on decisionsminutes of the previous meeting(s) is placed at the succeeding meeting of the BoardBoard Committee for noting. The Company Secretary, while preparing the agenda, notes on agenda, minutes of the meeting(s), is responsible for and is required to ensure adherence to all applicable laws and regulations, including the Companies Act, 1956 Companies Act, 2013 read with rules issued thereunder, as applicable and the Secretarial Standards recommended by the Institute of Company Secretaries of India. Number of Board meetings held with dates Six Board meetings were held during the year, as against the minimum requirement of four meetings. The details of Board meetings are given below: Attendance of Directors at Board meetings, last Annual General Meeting (AGM) and number of other Directorships and Chairmanships Memberships of Committees of each Director in various companies: Videotele-conferencing facilities are used to facilitate Directors travelling abroad, or present at other locations, to participate in the meetings. Board Committees Details of the Board Committees and other related information are provided hereunder: Shri K. Sethuraman, Group Company Secretary and Chief Compliance Officer, is the Secretary of all Board Committees. Meetings of Board Committees held during the year and Directors attendance The Committees composition meets with requirements of Section 177 of the Companies Act, 2013 and Clause 49 of the Listing Agreement. Members of the Audit Committee possess financial accounting expertise exposure. Powers of the Audit Committee To investigate any activity within its terms of reference To seek information from any employee To obtain outside legal or other professional advice To secure attendance of outsiders with relevant expertise, if it considers necessary Role of the Audit Committee inter alia, includes the following: Oversight of the Companys financial reporting process and the disclosure of its financial information to ensure that the financial statement is correct, sufficient and credible Recommending to the Board, the appointment, reappointment and, if required, the replacement or removal of statutory auditors, including cost auditors, and fixation of audit fees and other terms of appointment Approving payment to statutory auditors, including cost auditors for any other services rendered by them Reviewing with the management, annual financial statements and auditors report thereon before submission to the Board for approval, with particular reference to: Matters required to be included in the Directors Responsibility Statement to be included in the Directors Report in terms of sub-section (2AA) of Section 217 of the Companies Act, 1956. Changes, if any, in accounting policies and practices and reasons for the same Major accounting entries involving estimates based on the exercise of judgment by the management Significant adjustments made in financial statements arising out of audit findings Compliance with listing and other legal requirements relating to financial statements Disclosure of related party transactions Qualifications in draft audit report Reviewing with the management, the quarterly financial statements before submission to the Board for approval. Reviewing with the management, the statement of uses application of funds raised through an issue (public issue, rights issue, preferential issue, etc.), the statement of funds utilised for purposes other than those stated in the offer documentprospectusnotice, and the report submitted by the monitoring agency monitoring the utilisation of proceeds of a public or rights issue, and making appropriate recommendations to the Board to take up steps in this matter Reviewing and monitoring the auditors independence and performance and effectiveness of audit process Approval or any subsequent modification of transactions of the Company with related parties Scrutiny of inter-corporate loans and investments Valuation of undertakings or assets of the Company, wherever it is necessary Evaluation of internal financial controls and risk management systems Reviewing with the management, the performance of statutory auditors, including cost auditors and internal auditors, adequacy of internal control systems Reviewing the adequacy of internal audit function, if any, including the structure of the internal audit department, staffing and seniority of the official heading the department, reporting structure, coverage and frequency of internal audit Discussion with internal auditors, any significant findings and follow-up thereon Reviewing the findings of any internal investigations by the internal auditors into matters where there is suspected fraud or irregularity or a failure of internal control systems of a material nature, and reporting the matter to the Board Discussion with statutory auditors, before the audit commences, about the nature and scope of audit as well as post audit discussion to ascertain any area of concern To look into the reasons for substantial defaults, if any, in the payment to depositors, debenture holders, shareholders (in case of non-payment of declared dividends) and creditors To review the functioning of the Whistle Blower mechanism Approval of appointme nt of the CFO (i. e. the whole-time Finance Director or any other person heading the finance function or discharging that function) after assessing qualifications, experience and background of the candidate Carrying out such other functions as may be specifically referred to the Committee by the Companys Board of Directors andor other Committees of Directors. Reviewing financial statements, in particular the investments made by the Companys unlisted subsidiaries. Reviewing the following information: The Management Discussion and Analysis of financial condition and results of operations Statement of significant related party transactions (as defined by the Audit Committee), submitted by management Management lettersletters of internal control weaknesses issued by the statutory auditors Internal audit reports relating to internal control weaknesses and The appointment, removal and terms of remuneration of internal auditors chief internal auditor To call for comments of the auditors about internal control systems, the scope of audit, including the observations of the auditors and review of financial statement before their submission to the Board and to discuss any related issue with the internal and statutory auditors and the management of the Company Executives of Accounts Department, Finance Department, Corporate Secretarial Department and Internal Audit Cell and representatives of statutory and internal auditors attend Audit Committee Meetings . The cost auditors attend the Audit Committee Meeting where cost audit reports are discussed. The due date for filing the cost audit reports in XBRL mode for the financial year ended March 31, 2013 was September 27, 2013 and the cost audit reports were filed by the Lead Cost Auditor on September 21, 2013. The due date for filing the cost audit reports for the financial year ended March 31, 2014 is September 27, 2014. The Chairman of the Audit Committee was present at the last Annual General Meeting held on June 6, 2013. Four meetings of the Audit Committee were held during the year. The details of meetings and attendance are given on page no. 120. Human Resources, Nomination and Remuneration Committee Composition of the Committee The Committees constitution and terms of reference are in compliance with provisions of the Companies Act, 2013, Clause 49 of the Listing Agreement and Securities and Exchange Board of India (Employee Stock Option Scheme and Employee Stock Purchase Scheme) Guidelines, 1999, as amended from time to time. Terms of Reference of the Committee, inter alia, includes the following: To identify persons who are qualified to become Directors and who may be appointed in senior management in accordance with the criteria laid down and to recommend to the Board their appointment and or removal. To carry out evaluation of every Directors performance To formulate the criteria for determining qualifications, positive attributes and independence of a Director, and recommend to the Board a policy, relating to the remuneration for the Directors, key managerial personnel and other employees To formulate the criteria for evaluation of Independent Directors and the Board To devise a policy on Board diversity To recommendreview remuneration of the Managing Director(s) and Whole-time Director(s) based on their performance and defined assessment criteria To administer, monitor and formulate detailed terms and conditions of the Employees Stock Option Scheme including: the quantum of options to be granted under Employees Stock Option Scheme per employee and in aggregate the conditions under which option vested in employees may lapse in case of termination of employment for misconduct the exercise period within which the employee should exercise the option, and that the option would lapse o n failure to exercise the option within the exercise period the specified time period within which the employee shall exercise the vested options in the event of termination or resignation of an employee the right of an employee to exercise all options vested in him at one time or various points of time within the exercise period the procedure for making a fair and reasonable adjustment to the number of options and to the exercise price in case of corporate actions, such as rights issues, bonus issues, merger, sale of division and others the granting, vesting and exercising of options in case of employees who are on long leave and the procedure for cashless exercise of options To carry out any other function as is mandated by the Board from time to time and or enforced by any statutory notification, amendment or modification, as may be applicable To perform such other functions as may be necessary or appropriate for the performance of its duties One meeting of the Human Resources, Nom ination and Remuneration Committee was held during the year. The details of meeting and attendance are given on page no. 120. The details relating to remuneration of Directors, as required under the Clause 49 of the Listing Agreement, have been given under a separate section, viz. Directors Remuneration in this report. Stakeholders Relationship Committee Composition of the Committee The Stakeholders Relationship Committee (SR Committee) was constituted by the Board on April 18, 2014 consequent to the dissolution of the ShareholdersInvestors Grievance Committee (SIG Committee). The SR Committee is primarily responsible to review all matters connected with the Companys transfer of securities and redressal of shareholders investors security holders complaints. The Committee also monitors the implementation and compliance with the Companys Code of Conduct for prohibition of Insider Trading. The SR Committees composition and the terms of reference meet with the requirements of Clause 49 of the Listing Agreement and provisions of the Companies Act, 2013. Terms of Reference of the Committee, inter alia, includes the following: Oversee and review all matters connected with the transfer of the Companys securities Approve issue of the Companys duplicate share debenture certificates Monitor redressal of investors shareholders security holders grievances Oversee the performance of the Companys Registrars and Transfer Agents Recommend methods to upgrade the standard of services to investors Monitor implementation of the Companys Code of Conduct for Prohibition of Insider Trading Carry out any other function as is referred by the Board from time to time or enforced by any statutory notification amendment or modification as may be applicable Four meetings of the SIG Committee were held during the year. The details of meetings and attendance are given on page no. 120. Shri K. Sethuraman, Group Company Secretary and Chief Compliance Officer, is the Compliance Officer for complying with requirements of Securities Laws and Listing Agreements with Stock Exchanges. Investor Grievance Redressal The number of complaints received and resolved to the satisfaction of investors during the year under review and their break-up are as under: Corporate Social Responsibility and Governance Committee Composition of the Committee The Corporate Social Responsibility and Governance (CSRG) Committee was constituted by the Board on January 17, 2014 considering requirements of the Companies Act, 2013 relating to the constitution of a Corporate Social Responsibility Committee. The Board also empowered the Committee to look into matters related to sustainability and overall governance. The Committees prime responsibility is to assist the Board in discharging its social responsibilities by way of formulating and monitoring implementation of the framework of corporate social responsibility policy, observe practices of Corporate Governance at all levels, and to suggest remedial measures wherever necessary. The terms of reference of the Corporate Governance and Stakeholders Interface Committee (CGSI Committee) was conferred on this Committee, and consequently, the CGSI Committee was dissolved, w. e.f. January 17, 2014. The Committees constitution and terms of reference meet with the requirements of the Companies Act, 2013. Terms of Reference of the Committee, inter alia, includes the following: To formulate and recommend to the Board, a Corporate Social Responsibility (CSR) Policy indicating activities to be undertaken by the Company in compliance with provisions of the Companies Act, 2013 and rules made there under To recommend the amount of expenditure to be incurred on the CSR activities To monitor the implementation of the framework of the CSR Policy To approve the Corporate Sustainability Report and oversee the implementation of sustainability activities To oversee the implementation of polices contained in the Business Responsibility Policy Manual, to make any changes modifications, as may be required, from time to time and to review and recommend the Business Responsibility Report (BRR) to the Board for its approval To observe corporate governance practices at all levels and to suggest remedial measures wherever necessary To ensure compliance with corporate governance norms prescribed under Listing Agreements with Stock Exchanges, the Companies Act and other statutes or any modification or re-enactment thereof To advise the Board periodically with respect to significant developments in the law and practice of corporate governance, and to make recommendations to the Board for appropriate revisions to the Companys Corporate Governance Guidelines To monitor the Companys compliance with Corporate Governance Guidelines and applicable laws and regulations, and make recommendations to the Board on all such matters and on any corrective action to be taken, as the Committee may deem appropriate To review and assess the adequacy of the Companys Corporate Governance Manual, Code of Business Conduct Ethics for Directors and Management Personnel, Code of Ethics and other internal policies and guidelines, and monitor that principles described therein are being incorpo rated into the Companys culture and business practices To formulate approve codes and or policies for better governance To provide correct inputs to the media so as to preserve and protect the Companys image and standing To disseminate factually correct information to investors, institutions and the public at large To establish oversight on important corporate communication on behalf of the Company with the assistance of consultants advisors, if necessary To ensure institution of standardised channels of internal communications across the Company to facilitate a high level of disciplined participation To carry out any other function as is mandated by the Board from time to time andor enforced by any statutory notification, amendment or modification as may be applicable or as may be necessary or appropriate for performance of its duties. Health, Safety and Environment Committee Composition of the Committee The Health, Safety and Environment Committee is primarily responsible to monitor and ensure the highest standards of environmental, health and safety norms are maintained, and the Companys operations are in compliance with applicable pollution and environmental laws across all locations. The Committee fulfils its responsibilities by reviewing the management of health, safety, environmental and social impacts of the Companys various projects and operations. Terms of Reference of the Committee, inter alia, includes the following: Monitoring and ensuring the highest standards of environmental, health and safety norms Ensuring compliance with applicable pollution and environmental laws at the Companys works factories locations by putting in place effective systems in this regard and reviewing the same periodically Reviewing, as the Committee deems appropriate, the Companys health, safety and environment related policy and making recommendations as necessary Reviewing the Companys performance on health, safety and environment related matters and suggesting improvements as the Committee may deem necessary Reviewing procedures and controls being followed at the Companys various manufacturing facilities and plants for compliance with relevant statutory provisions Reviewing regularly and making recommendations about changes to the charter of the Committee Obtaining or performing an annual evaluation of the Committees performance and making appr opriate recommendations Four meetings of the Health, Safety and Environment Committee were held during the year. The details of the meetings and attendance are given on page no. 120. Composition of the Committee Terms of Reference of the Committee, inter alia, includes the following: Review the Companys financial policies, risk assessment and minimisation procedures, strategies and capital structure, working capital and cash flow management, and make such reports and recommendations to the Board with respect thereto, as it may deem advisable Review banking arrangements and cash management Exercise all powers to borrow money (otherwise than by issue of debentures) within limits approved by the Board, and take necessary actions connected therewith, including refinancing for optimisation of borrowing costs Give guaranteesissue letters of comfortproviding securities within the limits approved by the Board Borrow money by way of loan andor issue and allot bondsnotes denominated in one or more foreign currencies in international markets for the purpose of refinancing the existing debt, capital expenditure, general corporate purposes, including working capital requir ements and possible strategic investments within limits approved by the Board Provide corporate guaranteeperformance guarantee by the Company within the limits approved by the Board Approve opening and operation of Investment Management Accounts with foreign banks and appoint them as agents, establishment of representativesales offices in or outside India. Carry out any other function as is mandated by the Board from time to time andor enforced by any statutory notification, amendment or modification as may be applicable Other transactions or financial issues that the Board may desire to have them reviewed by the Finance Committee Delegate authorities from time to time to the executives authorised persons to implement the Committees decisions Review regularly and make recommendations about changes to the charter of the Committee Seven meetings of the Finance Committee were held during the year. The details of meetings and attendance are given on page no. 120. Directors Remuneration The Companys remuneration policy is directed towards rewarding performance based on review of achievements periodically. The remuneration policy is in consonance with the existing industry practice. Remuneration paid to the Chairman and Managing Director and Whole-time Directors during 2013-14 The Chairman and Managing Directors compensation has been set at 15 crore as against 38.86 crore as per shareholders approval, reflecting his desire to continue to set a personal example for moderation in managerial compensation levels. Performance criteria for two Executive Directors, entitled for Performance Linked Incentive (PLI), are determined by the Human Resources, Nomination and Remuneration Committee. The tenure of office of the Managing Director and Whole-time Directors is for five years from their respective dates of appointments, and can be terminated by either party by giving three months notice in writing. There is no separate provision for payment of severance fees. Sitting fee and commission on net profit to Non-Executive Directors: During the year, the Company paid 0.32 crore as professional fees to Ms. Kanga Co. a firm in which the Companys Director, Shri Mansingh L. Bhakta, is a partner. There were no other pecuniary relationships or transactions of Non-Executive Directors vis--vis the Company. The Company has not granted any stock option to any of its Non-Executive Directors. Subsidiary Companies Monitoring Framework All subsidiary companies are Board managed with their Boards having the rights and obligations to manage such companies in the best interest of their stakeholders. The Company does not have any material unlisted subsidiary, and hence, is not required to nominate an Independent Director of the Company on the Board of any subsidiary. The Company monitors performance of subsidiary companies, inter alia, by the following means: Financial statements, in particular investments made by unlisted subsidiary companies, are reviewed quarterly by the Companys Audit Committee. Minutes of Board meetings of unlisted subsidiary companies are placed before the Companys Board regularly. A statement containing all significant transactions and arrangements entered into by unlisted subsidiary companies is placed before the Companys Board. Prof. Dipak C. Jain, the Companys Independent Director has been appointed as a Director on the Board of Reliance Retail Ventures Limited, a subsidiary. General Body Meetings Annual General Meetings During the preceding three years, the Companys Annual General Meetings were held at Birla Matushri Sabhagar, 19, New Marine Lines, Mumbai - 400020. The date and time of Annual General Meetings held during last three years, and the special resolution(s) passed thereat, are as follows: Special Resolution passed through Postal Ballot No special resolution was passed through postal ballot during the Financial Year 2013-14. None of the businesses proposed to be transacted in the ensuing Annual General Meeting require passing a special resolution through postal ballot. Disclosure on materially significant related party transactions, i. e. the Companys transactions that are of material nature, with its Promoters, Directors and the management, their relatives or subsidiaries, among others that may have potential conflict with the Companys interests at large None of the transactions with any of related parties were in conflict with the Companys interest. Attention of members is drawn to the disclosure of transactions with related parties set out in Note No. 31 of Standalone Financial Statements, forming part of the Annual Report. The Companys major related party transactions are generally with its subsidiaries and associates. The related party transactions are entered into based on considerations of various business exigencies, such as synergy in operations, sectoral specialisation and the Companys long-term strategy for sectoral investments, optimisation of market share, profitability, legal requirements, liquidity and capital resources of subsidiaries and associates. All related party transactions are negotiated on arms length basis, and are intended to further the Companys interests. Details of non-compliance by the Company, penalties and strictures imposed on the Company by Stock Exchanges or SEBI, or any other statutory authority, on any matter related to capital markets during last three years. There has been no instance of non-compliance by the Company on any matter related to capital markets during last three years, and hence, no penalties or strictures have been imposed on the Company by Stock Exchanges or SEBI or any other statutory authority. However, the SEBI has issued Show Cause Notices during last three years in connection with (i) sale of shares of erstwhile Reliance Petroleum Limited (ii) the allotment of the Companys equity shares to certain companies against detachable warrants attached to privately placed debentures issued by the Company and (iii) disclosure of Earnings Per Share and diluted Earnings Per Share in the filing with Stock Exchanges in respect of shares against warrants issued in April, 2007. The Company has submitted its reply for the same. Means of Communication Quarterly results: The Companys quarterly results are published in Financial ExpressIndian Express and Navshakti, and are displayed on its website ( ril ). News releases, presentations, among others: Official news releases and official media releases are sent to Stock Exchanges. Presentations to institutional investors analysts: Detailed presentations are made to institutional investors and financial analysts on the Companys unaudited quarterly as well as audited annual financial results. These presentations are also uploaded on the Companys website (ril ). Website: The Companys website (ril) contains a separate dedicated section Investor Relations where shareholders information is available. The Companys Annual Report is also available in a user-friendly and downloadable form. Annual Report: The Annual Report containing, inter alia, Audited Annual Accounts, Consolidated Financial Statements, Directors Report, Auditors Report and other important information is circulated to members and others entitled thereto. The Managements Discussion and Analysis (MDA) Report forms part of the Annual Report and is displayed on the Companys website (ril ). Chairmans Communique: The printed copy of the Chairmans speech is distributed to shareholders at Annual General Meetings. The document is also placed on the Companys website (ril) and sent to Stock Exchanges. Reminder to Investors: Reminders for unclaimed shares, unpaid dividendunpaid interest or redemption amount on debentures are sent to shareholdersdebenture holders as per records every year. Corporate Filing and Dissemination System (CFDS): The CFDS portal jointly owned, managed and maintained by BSE and NSE is a single source to view information filed by listed companies. All disclosures and communications to BSE and NSE are filed electronically through the CFDS portal, and hard copies of the said disclosures and correspondence are also filed with stock exchanges. NSE Electronic Application Processing System (NEAPS): The NEAPS is a web-based application designed by NSE for corporates. All periodical compliance filings like shareholding pattern, corporate governance report, media releases, among others are filed electronically on NEAPS. BSE Corporate Compliance Listing Centre (the Listing Centre): BSEs Listing Centre is a web-based application designed for corporates. All periodical compliance filings like shareholding pattern, corporate governance report, media releases, among others are also filed electronically on the Listing Centre. SEBI Complaints Redress System (SCORES): The investor complaints are processed in a centralised web-based complaints redress system. The salient features of this system are: Centralised database of all complaints, online upload of Action Taken Reports (ATRs) by concerned companies and online viewing by investors of actions taken on the complaint and its current status. Designated Exclusive email-id: The Company has designated the following email-ids exclusively for investor servicing: For queries on Annual Report: investorrelationsril For queries in respect of shares in physical mode :rilinvestorkarvy Shareholders Feedback Survey: The Company had sent feedback forms seeking shareholders views on various matters relating to investor services and Annual Report 2012-13. The feedback received from shareholders was placed before the ShareholdersInvestors Grievance Committee. General Shareholder Information Company Registration Details The Company is registered in the State of Maharashtra, India. The Corporate Identity Number (CIN) allotted to the Company by the Ministry of Corporate Affairs (MCA) is L17110MH1973PLC019786. Annual General Meeting Shares issued on Demerger Consequent upon the demerger of the coal based, gas based, financial services and telecommunications undertakingsbusinesses of the Company in December, 2005, the shareholders of the Company were allotted equity shares of the four companies, namely, Reliance Energy Ventures Limited (REVL), Reliance Natural Resources Limited (RNRL), Reliance Capital Ventures Limited (RCVL) and Reliance Communication Ventures Limited (RCoVL) in the ratio of one equity share of each of the companies for every equity share held by shareholders except specified shareholders, in Reliance Industries Limited, as on the record date fixed for the purpose. Accordingly, 122,31,30,422 equity shares each of REVL, RNRL, RCVL and RCoVL were allotted on January 27, 2006. Dematerialisation of Shares 97.70 of Companys paid-up Equity Share Capital has been dematerialised up to March 31, 2014 (97.58 up to March 31, 2013). Trading in Equity Shares of the Company is permitted only in dematerialised form. The Companys Equity Shares are among the most liquid and actively traded shares on the Indian Stock Exchanges. RIL shares consistently rank among the top few frequently traded shares, both in terms of the number of shares traded, as well as value. The highest trading activity is witnessed on the BSE and NSE. Relevant data for the average daily turnover for the financial year 2013-14 is given below: Outstanding GDRs Warrants and Convertible Bonds, Conversion Date and likely impact on equity GDRs: Outstanding GDRs as on March 31, 2014 represent 11,11,55,934 equity shares constituting 3.44 of Companys paid-up Equity Share Capital. Each GDR represents two underlying equity shares in the Company. GDR is not a specific time-bound instrument and can be surrendered at any time and converted into the underlying equity shares in the Company. The shares so released in favour of the investors upon surrender of GDRs can either be held by investors concerned in their name or sold off in the Indian secondary markets for cash. To the extent of shares so sold in Indian markets, GDRs can be reissued under the available head room. RIL GDR Programme - Important Information RIL GDRs are listed at the Luxembourg Stock Exchange. GDRs are traded on the International Order Book (IOB) of London Stock Exchange. GDRs are also traded amongst Qualified Institutional Investors in the Portal System of NASD, USA. RIL GDRs are exempted securities under US Securities Law. RIL GDR program has been established under Rule 144A and Regulation S of the US Securities Act, 1933. Reporting is done under the exempted route of Rule 12g3-2(b) under the US Securities Exchange Act, 1934. The Bank of New York Mellon is the Depository and ICICI Bank Limited is the Custodian of all the Equity Shares underlying the GDRs issued by the Company. Employee Stock Options The information on Options granted by the Company during the financial year 2013-14 and other particulars with regard to Employees Stock Options are set out under Annexure I to the Directors Report Directors Profile Shri Mukesh D. Ambani (DIN 00001695) is a Chemical Engineer from Institute of Chemical Technology, Mumbai (earlier University Department of Chemical Technology, University of Mumbai). He has pursued MBA from Stanford University, USA. Shri Mukesh D. Ambani has joined Reliance in 1981. He initiated Reliances backward integration journey from textiles into polyester fibres and further into petrochemicals, petroleum refining and going up-stream into oil and gas exploration and production. He created several new world class manufacturing facilities involving diverse technologies that have raised Reliances petrochemicals manufacturing capacities from less than a million tonnes to about fourteen million tonnes per year. He is envisaging doubling these capacities to twenty seven million tonnes per annum within a short span. Working hands-on, Shri Mukesh D. Ambani led the creation of the worlds largest grassroots petroleum refinery at Jamnagar, India, with a current capacity of 660,000 barrels per day (33 million tonnes per year) integrated with petrochemicals, power generation, port and related infrastructure. Further, he steered the setting up of another 27 million tonnes refinery next to the existing one in Jamnagar. With an aggregate refining capacity of 1.24 million barrels of oil per day at any single location in the world has transformed Jamnagar as the Refining Hub of the World. In September 2008, when the first drop of crude oil flowed from the Krishna-Godavari basin, Shri Mukesh D. Ambanis vision of energy security for India was being realized. Shri Mukesh D. Ambani is steering Reliances development of infrastructure facilities and implementation of a pan-India organized retail network spanning multiple formats and supply chain infrastructure. Today, Reliance Retail is the largest retail player in the Country. Shri Mukesh D. Ambani is also setting up one of the most complex 4G broadband wireless services offering end to end solutions that address the entire value chain across various digital services in key domains of national interest such as Education, Healthcare, Security, Financial Services, Government-Citizen interfaces and Entertainment. Shri Mukesh D. Ambanis achievements have been acknowledged at national and international levels. Over the years, some of the awards and recognition bestowed on him are: In 2013, he was conferred Entrepreneur of the Decade by All India Management Association. In 2010, awarded the Deans Medal by University of Pennsylvanias Eduardo Glandt, Dean of the School of Engineering and Applied Science for his leadership in the application of Engineering and Technology. In 2010, named among the most powerful people in the world by Forbes magazine in its list of 68 people who matter most. In 2010, awarded the Indian Merchants Chamber (IMC) Juran Quality Medal 2009. In 2009, ranked the 5th best performing CEO in the world by the Harvard Business Review in its ranking of the top 50 global CEOs. Shri Mukesh D. Ambani is a member of the Prime Ministers Council on Trade and Industry, Government of India and the Board of Governors of the National Council of Applied Economic Research, New Delhi. He is the Chairman of Board of Governors, Pandit Deendayal Petroleum University, Gandhinagar. Shri Mukesh D. Ambani is a Member of Millennium Development Goals (MDG) Advocacy Group (MDG Advocate) constituted by United Nations (UN) and a Member of The Foundation Board of World Economic Forum. Shri Mukesh D. Ambani is a member of the Indo-US CEOs Forum, Chair of The British Asian Trusts India Advisory Council, International Advisory Council of The Brookings, McKinsey Company, Global Advisory Council of Bank of America, Member of The Business Council and Asia Business Council, and London School of Economics India Advisory Group. Shri Mukesh D. Ambani is the Chairman and Director of Reliance Jio Infocomm Limited and Reliance Retail Ventures Limited and a Director of Reliance Foundation and Reliance Europe Limited. At RIL, he is Chairman of the Finance Committee. He is Promoter of the Company and holds 36,15,846 shares of the Company in his name as on March 31, 2014. Shri Nikhil R. Meswani (DIN 00001620) is a Chemical Engineer. He is the son of Shri Rasiklal Meswani, one of the Founder Directors of the Company. He joined Reliance in 1986 and since July 01, 1988 he is a Whole-time Director designated as Executive Director on the Board of the Company. He is primarily responsible for Petrochemicals Division and has contributed largely to Reliance to become a global leader in Petrochemicals. Earlier, he handled refinery business between 1997 and 2005. He was also responsible for integration of IPCL with Reliance businesses. In addition, he continues to shoulder several other corporate responsibilities such as Corporate Affairs and Groups taxation policies. He also takes keen interest in IPL cricket franchise Mumbai Indians. He was the President of Association of Synthetic Fibre Industry and was also the youngest Chairman of Asian Chemical Fibre Industries Federation. He is also a member of managing committee of Federation of Indian Export Organisations set up by Ministry of Commerce. He was named Young Global Leader by the World Economic Forum in 2005 and continues to actively participate in the activities of the Forum. He is also a member of the Young Presidents Organisation. He was honoured by the Institute of Economic Studies, Ministry of Commerce Industry, the Textile Association (India), Ministry of Textiles. He is also a distinguished Alumnus of the University Institute of Chemical Technology (UICT), Mumbai. He is a member of the Corporate Social Responsibility and Governance Committee, the Finance Committee and the Stakeholders Relationship Committee of the Company. He is a Director of Reliance Commercial Dealers Limited and Chairman of its Audit Committee. He holds 4,18,374 shares of the Company in his name as on March 31, 2014. Shri Hital R. Meswani (DIN 00001623) graduated with Honours in the Management Technology programme from the University of Pennsylvania, U. S.A. where he received a Bachelor of Science Degree in Chemical Engineering from the School of Engineering and Applied Sciences and a Bachelor of Science Degree in Economics from the Wharton Business School. He joined Reliance Industries Limited in 1990. He is on the Board of the Company as Whole-time Director designated as Executive Director since August 4, 1995, with overall responsibility of the Petroleum Refining Business and all Manufacturing, Research Technology and Project Execution activities of the group. He is a member of the Finance Committee and Stakeholders Relationship Committee and Chairman of the Health, Safety and Environment Committee of the Company. He is a Director of Reliance Industrial Investments and Holdings Limited and Reliance Commercial Dealers Limited. He is the Chairman of the Audit Committee of Reliance Industrial Investments and Holdings Limited and is a member of the Audit Committee of Reliance Commercial Dealers Limited. He has been instrumental in the execution of several mega projects of the group including the Hazira Petrochemicals complex and the worlds largest Refinery complex at Jamnagar. He has been awarded an Honorary Fellowship by IChemE (Institution of Chemical Engineers the International Professional body for Chemical, Biochemical and Process Engineers) in recognition of his contribution to the process industries. He is the recipient of The 2011 D. Robert Yarnall Award from The Engineering Alumni Society of the University of Pennsylvania. He was also recently conferred the Honorary CEPM-PMA Fellowship Award for Project Management Excellence. He holds 3,51,886 shares of the Company in his name as on March 31, 2014. Shri P. M.S. Prasad (DIN 00012144) is a Whole-time Director designated as Executive Director of the Company since August 21, 2009. He has been with the Company for about 33 years. Over the years, he has held various senior positions in the Fibres, Petrochemicals, Refining Marketing and Exploration Production Businesses of the Company. He holds Bachelors degrees in Science and Engineering. He was awarded an honorary doctorate degree by the University of Petroleum Engineering Studies, Dehradun in recognition of his outstanding contribution to the Petroleum sector. He has been conferred the Energy Executive of the Year 2008 award by Petroleum Economist in recognition of his leadership. He is on the Board of Governors of the University of Petroleum Energy Studies, India. He is a member of the Health, Safety and Environment Committee of the Company. He is a Director of Reliance Commercial Dealers Limited and is a member of its Audit Committee. He holds 1,36,666 shares of the Company in his name as on March 31, 2014. Shri Pawan Kumar Kapil (DIN 02460200) has been appointed as a Whole-time Director designated as Executive Director of the Company with effect from May 16, 2010. He holds Bachelors degree in Chemical Engineering and has a rich experience of more than four decades in the Petroleum Refining Industry. He joined Reliance in 1996 and led the commissioning and start-up of the Jamnagar complex. He was associated with this project since conception right through Design, Engineering, Construction and Commissioning. He also led the commissioning of the manufacturing operations in the Special Economic Zone (SEZ) at Jamnagar by Reliance. He started his career in 1966 with the Indian Oil Corporation. In the initial years he worked in various capacities in Operations, Technical Services and start-up commissioning of various Refinery Process Units facilities in Barauni and Gujarat Refineries. Being a person with a strong penchant for analytical work and high technology skills, he was chosen to head the Central Technical Services Department at the Corporate Office of Indian Oil Corporation. Here he did extensive work in expansion of the existing refineries, energy optimisation, debottlenecking studies and long range planning. Then he moved to Mathura Refinery as the head of Refinery Operations. From Mathura he was picked up to become the Director (Technical) of Oil Coordination Committee (OCC) - the Think Tank of the Ministry of Petroleum, the Government of India. He has travelled extensively and has been to USA, Russia, the Middle East, Europe and the Far East in connection with refinery design, technology selection, crude sourcing, etc. Having served for 28 years in Indian Oil Corporation and OCC in various capacities, he rose to the position of Executive Director and spearheaded the setting up of Panipat Refinery for the Indian Oil Corporation. He has been the Site President of the Jamnagar complex of the Company from 2001 to 2010. He is currently heading Group Manufacturing Services (GMS) since 2011 and working towards achieving excellence in the areas of HSE, Technology, Reliability and Operations of all Manufacturing Sites covering Refineries, Petrochemicals and Polyester Plants of the Company. Under his able leadership, in 2005, the Jamnagar Refinery became the first Asian Refinery to be declared the Best Refinery in the world, at the World Refining Fuel Conference at San Francisco, USA. Both Refineries have bagged many national and international awards for Excellence in Safety performance, Energy conservation Environment management, including the Golden Peacock Global Award for Sustainability for the year 2010. In recognition of his excellent achievements, the CHEMTECH Foundation had conferred on him the Outstanding Achievement Award for Oil Refining in 2008. He is also a Member of the Research Council of the Indian Institute of Petroleum, Dehradun. He is a member of the Health, Safety and Environment Committee of the Company. He holds 5,000 shares of the Company in his name as on March 31, 2014. Shri Mansingh L. Bhakta (DIN 00001963) is senior partner of Messers Kanga Company, a leading firm of Advocates and Solicitors in Mumbai. He has been in practice for over 59 years and has vast experience in legal field and particularly on matters relating to corporate laws, banking and taxation. He is a legal advisor to leading foreign and Indian companies and banks. He has also been associated with a large number of Euro issues made by Indian companies. He was the Chairman of the Taxation Law Standing Committee of LAWASIA, an Association of Lawyers of Asia and Pacific, which has its headquarters in Australia. He is a Director of the Indian Merchants Chamber, Mumbai and JCB India Limited. He is the Lead Independent Director of the Company. He is a member of the Audit Committees of JCB India Limited. During his long legal career, he has served as an Independent Director of a large number of leading corporates including Larsen Toubro Limited, SKF (India) Limited, Kirloskar Oil Engines Limited, Arvind Limited and Bennett Coleman Company Limited. He is a recipient of Rotary Centennial Service Award for Professional Excellence from Rotary International. In its normal annual survey conducted by Asia Law Journal, Hong Kong, a leading International law journal, he has been nominated as one of the Leading Lawyers of Asia 2011. Last year was the sixth consecutive year in which he has been so nominated. He holds 3,30,000 shares of the Company in his name as on March 31, 2014. Shri Yogendra P. Trivedi (DIN 00001879) is practicing as senior advocate in Supreme Court. He was a member of the Rajya Sabha till April 2, 2014. He holds important positions in various fields viz. economics, profession, politics, commercial, education, medical field, sports and social service. He has received various Awards and medals for his contribution in various fields. He was a Director in Central Bank of India and Dena Bank, amongst many other reputed companies. He was the past President of the Indian Merchants Chamber and presently is a Member of the Managing Committee. He was on the Managing Committee of ASSOCHAM and the International Chamber of Commerce. He was the Hon Counsel of Republic of Ethiopia. He is the Chairman of Sai Service Private Limited and Trivedi Consultants Private Limited. He is the Director of The Supreme Industries Limited, Zodiac Clothing Company Limited, The Seksaria Biswan Sugar Factory Limited, New Consolidated Construction Company Limited and Emami Limited. He is the Chairman of Indo African Chamber of Commerce. He was the President of the Cricket Club of India. He was the past President of the Western India Automobile Association. He is also Member of the Indian Merchants Chamber, All India Association of Industries, W. I.A. A. Club, B. C.A Club, Orient Club, Royal Bombay Yatch Club. He is also the Chairman of the Audit Committee, the Corporate Social Responsibility and Governance Committee and the Stakeholders Relationship Committee and Member of the Human Resources, Nomination and Remuneration Committee of the Company. He is a Member of the Audit Committee of Zodiac Clothing Company Limited and The Seksaria Biswan Sugar Factory Limited. He has been conferred Honorary Doctorate (HonorisCausa) by Fakir Mohan University, Balasore, Odisha. He holds 27,984 shares of the Company in his name as on March 31, 2014. Dr. Dharam Vir Kapur (DIN 00001982) is an honours Graduate in Electrical Engineering with wide experience in Power, Capital Goods, Chemicals and Petrochemicals Industries. He had an illustrious career in the government sector with a successful track record of building vibrant organisations and successful project implementation. He served Bharat Heavy Electricals Limited (BHEL) in various positions with distinction. Most remarkable achievement of his career was establishment of fast growing systems oriented National Thermal Power Corporation (NTPC) of which he was the founder Chairman-cum-Managing Director (CMD). As CMD, NTPC, Dr. Kapur was described as a Model Manager by the Board of Executive Directors of World Bank. As Secretary to the Government of India in the Ministries of Power, Heavy Industry and Chemicals Petrochemicals during 1980-86, he made significant contributions with introduction of new management practices and liberalization initiatives including authorship of Broad Banding and Minimum economic sizes in industrial licensing. He was also associated with a number of National Institutions as Member, the Atomic Energy Commission Member, Advisory Committee of the Cabinet for Science and Technology Chairman, Board of Governors, IIT Bombay (1983-94) Member, Board of Governors, IIM Lucknow and Chairman, National Productivity Council. In recognition of his services and significant contributions in the field of Technology, Management and Industrial Development, Jawaharlal Nehru Technological University, Hyderabad, conferred on him the degree of D. Sc. He is recipient of India Power, Life Time Achievement Award presented by Council of Power Utilities, for his contributions to Energy and Industry sectors. ENERTIA Awards 2010 also conferred Life Time Achievement Award on Dr. Kapur for his contribution to the Power and Energy Sector and for his leadership in the fledgling NTPC. Project Management Associates, India adopted Dr. D. V. Kapur as Mentor during its 20th International Conference in December 2013. Dr. Kapur is also recipient of Meritorious Services Award for exemplary services to Indian Energy Sector presented by India Energy Forum. He is the Chairman (Emeritus) of Jacobs HG (P) Limited. He is also a Director on the Boards of Honda Siel Power Products Limited, DLF Limited and other private limited companies. Earlier he was a Director on the Boards of Tata Chemicals Limited, Larsen Toubro Limited, Ashok Leyland Limited and also Chairman of GKN Driveline Limited. He is a member of the Human Resources, Nomination and Remuneration Committee, the Corporate Social Responsibility and Governance Committee and the Health, Safety and Environment Committee of the Company. He is Chairman Audit Committee, ShareholdersInvestors Relations Committee and Remuneration Committee of Honda Siel Power Products Limited. He is also a member Audit Committee and Chairman, Committees on Corporate Governance and ShareholdersInvestor Relations of DLF Limited. He holds 13,544 shares of the Company in his name as on March 31, 2014. Shri Mahesh Prasad Modi (DIN 00001604), M. Sc (Econ.) (London), Fellow, Economic Development Institute of the World Bank, held high positions in the Government of India as Chairman of Telecom Commission Secretary, Telecommunications Department Director General, Telecommunications Secretary, the Ministry of Coal Special Secretary (Insurance), Economic Affairs Department and Joint Secretary, the Ministry of Petroleum, Chemicals and Fertilizers. He has served as Director on the Board of Directors of many public sector and private sector companies, including: GAIL (Founder Director), IPCL, BPCL, CRL, BRPL, Life Insurance Corporation of India, General Insurance Corporation, Mangalore Refinery Petrochemicals, Essar Shipping, BSES, ICICI Prudential Life Insurance Co. and India Advisory Board of BHP Billiton. He has considerable management experience, particularly in the fields of energy, petrochemicals, telecom and insurance. He is a member of the Audit Committee of the Company. He holds 2,924 shares of the Company in his name as on March 31, 2014. Prof. Ashok Misra (DIN 00006051) is a B. Tech. in Chemical Engineering from IIT Kanpur, M. S. in Chemical Engineering from the Tufts University and a Ph. D. in Polymer Science Engineering from the University of Massachusetts. He has also completed the Executive Development Programme and Strategies for Improving Directors Effectiveness Programme at the Kellogg School of Management, Northwestern University. He was the Director at the Indian Institute of Technology, Bombay from 2000 to 2008, where he made significant contribution taking the Institute to greater heights. During his tenure the IIT Bombay was transformed into a leading Research Development Institute, while at the same time maintaining its reputation as a leader in quality engineering education. Prior to this he was at IIT Delhi from 1977-2000 and at Monsanto Chemical Co. from 1974-1977. He is currently the Chairman-India, Intellectual Ventures. He is a Fellow of the National Academy of Sciences, India (President from 2006 to 2008) the Indian National Academy of Engineering, the Indian Institute of Chemical Engineers, the Indian Plastics Institute and the Maharashtra Academy of Sciences. He is the Founder President of the Polymer Processing Academy and the former President of the Society of Polymer Science, India. He is an Independent Director on the Board of Jubilant Industries Limited and Jubilant Agri and Consumer Products Limited. He is a member of Audit Committee and Compensation Committee of Jubilant Industries Limited. He is a member of the Board of Governors of IIT Delhi, member of the IIT Council and a member of the Central Advisory Board of Education of MHRD. He is a member of the Stakeholders Relationship Committee of the Company and a Member of the Investment Committee for Aditya Birla Private Equity Sunrise Fund. He was on the Board of National Thermal Power Corporation Limited for 6 years. He ishas been on the Boards or Councils of several national and international institutions. He has received several awards including the Distinguished Alumnus Awards from all his alma maters IIT Kanpur, Tufts University and University of Massachusetts. He was awarded the Distinguished Service Award by IIT Delhi during its Golden Jubilee in 2011. He has co-authored a book on Polymers, was awarded 6 patents and has over 150 international publications. He is on the editorial board of several scientific journals. He holds 2,300 shares of the Company in his name as on March 31, 2014. Prof. Dipak C. Jain (DIN 00228513) has a M. S. in Mathematical Statistics from Guwahati University, India and a Ph. D. in Marketing from the University of Texas at Dellas, United States of America. Prof. Jain is a distinguished teacher and scholar. He had been Dean of the Kellogg School of Management, Northwestern University, Evanston, Illinois, United States of America from 2001 to 2009 and an Associate Dean from 1996 to 2001. Currently, he is a Chaired Professor of Marketing at INSEAD, a leading business school with three campuses at Fontainebleau (Paris), France, Singapore and Abu Dhabi. He has served as the Dean of INSEAD from 2011-13. He has more than 30 years of experience in management education. He has published several articles in international journals on marketing and allied subjects. His academic honors include the Sidney Levy Award for Excellence in Teaching in 1995 the John D. C. Little Best Paper Award in 1991 Kraft Research Professorships in 1989- 90 and 1990-91 the Beatrice Research Professorship in 1987-88 the Outstanding Educator Award from the State of Assam in India in 1982 Gold Medal for the Best Post - Graduate of the Year from Guwahati University in India in 1978 Gold Medal for the Best Graduate of the Year from Darrang College in Assam in India in 1976 Gold Medal from Jaycees International in 1976 the Youth Merit Award from Rotary International in 1976 and the Jawaharlal Nehru Merit Award, the Government of India in 1976. He is a Director of HT Global Education, John Deere Company, United States of America, Global Logistic Properties, Singapore and Northern Trust Bank, United States of America. He is a Director of Reliance Retail Ventures Limited and also a member of its Audit Committee. He does not hold any shares of the Company in his name as on March 31, 2014. Dr. Raghunath A. Mashelkar, (DIN 00074119) National Research Professor, is presently also the President of Global Research Alliance, a network of publicly funded RD Institutes from Asia-Pacific, Europe and USA with over 60,000 scientists. Dr. Mashelkar served as the Director General of Council of Scientific and Industrial Research (CSIR), with thirty-eight laboratories and about 20,000 employees for over eleven years. He was also the President of Indian National Science Academy and President of Institution of Chemical Engineers (UK). Dr. Mashelkar is on the Board of Directors of several other reputed companies such as Tata Motors Limited, IKP Knowledge Park, Thermax Limited, Piramal Enterprises Limited, and KPIT Cummins Infosystems Limited and several other private limited companies. He is also a Director of Reliance Gene Medix Limited (company incorporated outside India). He is a member of the Scientific Advisory Board of the Microsoft. He is a member of the Audit Committee, the Human Resources, Nomination and Remuneration Committee and the Corporate Social Responsibility and Governance Committee of the Company. He is Chairman of the Safety, Health and Environment Committee of Tata Motors Limited. He is a member of the Audit Committees of Tata Motors Limited and Piramal Enterprises Limited (formerly Piramal Healthcare Limited). He is a member of the Remuneration Committee of KPIT Cummins Infosystems Ltd. Dr. Mashelkar is only the third Indian engineer to have been elected (1998) as Fellow of Royal Society (FRS), London in the twentieth century. He was elected Foreign Associate of National Academy of Science (USA) in 2005, Associate Foreign Member, American Academy of Arts Sciences (2011) Foreign Fellow of US National Academy of Engineering (2003) Fellow of Royal Academy of Engineering, U. K. (1996), Foreign Fellow of Australian Technological Science and Engineering Academy (2008) and Fellow of World Academy of Art Science, USA (2000). In August 1997, Business India named Dr. Mashelkar as being among the 50 path-breakers in the post - Independent India. In 1998, Dr. Mashelkar won the JRD Tata Corporate Leadership Award, the first scientist to win it. In June, 1999, Business India did a cover story on Dr. Mashelkar as CEO OF CSIR Inc., a dream that he himself had articulated, when he took over as DG, CSIR in July 1995. On November 16, 2005, he received the Business Week (USA) award of Stars of Asia at the hands of George Bush (Sr.), the former President of USA. He was the first Asian Scientist to receive it. Deeply connected with the innovation movement in India, Dr. Mashelkar is currently the Chairman of Indias National Innovation Foundation, Reliance Innovation Council, Thermax Innovation Council and Marico Innovation Foundation. Thirty universities have honoured him with honorary doctorates, which include Universities of London, Salford, Pretoria, Wisconsin and Delhi. The President of India honoured Dr. Mashelkar with Padmashri (1991), with Padmabhushan (2000) and with Padma Vibhushan (2014), which are three of the highest civilian honours in recognition of his contribution to nation building. When Dr. Mashelkar took over as the Director General of CSIR, he enunciated CSIR 2001: Vision Strategy. This was a bold attempt to draw out a corporate like RD and business plan for a publicly funded RD institution. This initiative has transformed CSIR into a user focused, performance driven and accountable organization. This process of transformation has been recently heralded as one of the ten most significant achievements of Indian Science and Technology in the twentieth century. Dr. Mashelkar has been propagating a culture of innovation and balanced intellectual property rights regime for over a decade. It was through his sustained and visionary campaign that growing awareness of Intellectual Property Rights (IPR) has dawned on Indian academics, researches and corporates. He spearheaded the successful challenge to the US patent on the use of turmeric for wound healing and also the patent on Basmati rice. These landmark cases have set up new paradigms in the protection of Indias traditional knowledge base, besides leading to the setting up of Indias first Traditional Knowledge Digital Library. In turn, at an international level, this has led to the initiation of the change of the International Patent Classification System to give traditional knowledge its rightful place. As Chairman of the Standing Committee on Information Technology of World Intellectual Property Organization (WIPO), as a member of the International Intellectual Property Rights Commission of UK Government and as Vice Chairman on Commission in Intellectual Property Rights, Innovation and Public Health (CIPIH) set up by World Health Organization (WHO), he brought new perspectives on the issue of IPR and the developing World concerns. In the post-liberalized India, Dr. Mashelkar has played a critical role in shaping Indias ST policies. He was a member of the Scientific Advisory Council to the Prime Minister and also of the Scientific Advisory Committee to the Cabinet set up by successive governments. He has chaired twelve high powered committees set up to look into diverse issues of higher education, national auto fuel policy, overhauling the Indian drug regulatory system, dealing with the menace of spurious drugs, reforming Indian agriculture research system, etc. He has been a much sought after consultant for restructuring the publicly funded RD institutions around the World his contributions in South Africa, Indonesia and Croatia have been particularly notable. Dr. Mashelkar has won over 50 awards and medals, which include S. S. Bhatnagar Prize (1982), Pandit Jawaharlal Nehru Technology Award (1991), G. D. Birla Scientific Research Award (1993), Material Scientist of Year Award (2000), IMC Juran Quality Medal (2002), HRD Excellence Award (2002), Lal Bahadur Shastri National Award for Excellence in Public Administration and Management Sciences (2002), World Federation of Engineering Organizations (WFEO) Medal of Engineering Excellence by WFEO, Paris (2003), Lifetime Achievement Award by Indian Science Congress (2004), the Science medal by the Academy of Science for the Developing World (2005), Ashutosh Mookherjee Memorial Award by Indian Science Congress (2005), etc. He does not hold any shares of the Company in his name as on March 31, 2014. Shri Adil Zainulbhai (DIN 06646490) is currently Senior Advisor to McKinsey. He retired as Chairman of McKinsey, India after 34 years at McKinsey. He spent the last 10 years in India. Prior to returning to India, he led the Washington office of McKinsey and founded the Minneapolis office. Over the last 10 years in India, Shri Adil has worked directly with the CEOs and promoters of some of the major companies in India and globally private companies, MNCs and PSUs. He has been focusing on 3 areas: Helping Indian companies meet their growth aspirations and become successful globally and developing their senior leadership. Helping Public Sector Undertakings (PSUs) become more efficient and effective. Helping MNCs enter India and build profitable, large and innovative businesses. Shri Adil has also been working with several parts of the government and led efforts around urbanization, inclusive growth and energy. Shri Adil has co-edited the book, Reimagining India which featured 60 authors including prominent businessmen, academicians, economists, authors and journalists. The book has been 1 in non-fiction in India on its release and 2 on Amazons International Business List in the US. Shri Adil grew up in Bombay and graduated in Mechanical Engineering from the Indian Institute of Technology. He also has an M. B.A. from Harvard Business School. Shri Adil is very active in community and social causes. He is a Board member of the American India Foundation, Saifee Hospital, Board of Trustees at Saifee Burhani Upliftment Trust (redeveloping Bhendi Bazaar in Mumbai), Advisory Board of the Indian Institute of Technology Bombay, Wockhardt Foundation, HMRI (Health Management Research Institute), Harvard Business School Alumni Association of India and on the Global Advisory Board of the Booth School of Business at University of Chicago. Shri Adil Zainulbhai is also Chairman of the Human Resources, Nomination and Remuneration Committee and Member of the Audit Committee of the Company. He does not hold any shares of the Company in his name as on March 31, 2014.Stock Price Quotes Corporation Bank Corporation Bank About Corporation Bank Corporation Bank, incorporated in the year 1999, is a banking company (having a market cap of 5373.96 Cr.). Corporation Bank key ProductsRevenue Segments include Interest amp Discount on Advances amp Bills which contributed 14483.05 Cr to Sales Value (74.61 of Total Sales), Interest on Investments which contributed 4208.60 Cr to Sales Value (21.68 of Total Sales), Interest which contributed 697.51 Cr to Sales Value (3.59 of Total Sales) and Interest On Balances with RBI and Other Inter-Bank Funds which contributed 22.08 Cr to Sales Value (0.11 of Total Sales)for the year ending 31-Mar-2016. The Bank has reported a Gross Non Performing Assets (Gross NPAs) of Rs 15828.00 Cr. (11.26 of total assets) and Net Non Performing Assets (Net NPAs) of Rs 10314.94 Cr. (7.64 of total assets). For the quarter ended 31-12-2016, the company has reported a Standalone Interest Income of 3279.40 Cr. down -7.29 from last quarter Interest Income of 3537.20 Cr. and down -6.69 from last year same quarter Interest Income of 3514.35 Cr. The bank has reported net profit after tax of 159.02 Cr. Di kuartal terakhir. Alert Watchlist Portfolioour values our people Leading b2b publisher, specialising in online, interactive professional communities With a range of services including websites, email publications, industry awards and events, Sift Media delivers original, branded content to over half a million professionals in accounting, IT, HR and training, marketing, and small business. Dengan menghasilkan konten berkualitas dan melibatkan pemirsa profesional kami di beberapa titik sentuh, kami menawarkan peluang pemasaran unik dari merek b2b yang menghasilkan laba atas investasi yang sesungguhnya. 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