A Public Limited Company taken over by the group in 1994 is in the forefront as manufacturer and exporter of Polyester / Cotton yarns. The Capacity of the mills is 19, 200 spindles The company had applied the principles contained in the court in the following manner.
1. The company encourages representation of independent non-executive directors and directors representing minority interest on its Board of Directors At present board includes six independent non-executive directors.
2. The directors have confirmed that none of them is serving as director in more than ten listed companies, including his Company.
3. No director has defaulted in payment of any loan to a banking company, a DFI or an NBFI or being a member of a stock exchange, has been declared as defaulter by that stock exchanges.
4. The company is in the process or preparing a ‘Statement of Ethics and Business Practices’ to establish a standard of conduct which shall be signed by directors and employees of the company in due course of time.
5. The board has developed a mission statement, overall corporate strategy and significant policies along with the dates on which they were approved and amended has been maintained.
1. The company encourages representation of independent non-executive directors and directors representing minority interest on its Board of Directors At present board includes six independent non-executive directors.
2. The directors have confirmed that none of them is serving as director in more than ten listed companies, including his Company.
3. No director has defaulted in payment of any loan to a banking company, a DFI or an NBFI or being a member of a stock exchange, has been declared as defaulter by that stock exchanges.
4. The company is in the process or preparing a ‘Statement of Ethics and Business Practices’ to establish a standard of conduct which shall be signed by directors and employees of the company in due course of time.
5. The board has developed a mission statement, overall corporate strategy and significant policies along with the dates on which they were approved and amended has been maintained.
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