CORPORATE EXCELLENCE

GOOD CORPORATE GOVERNANCE

Good Corporate Governance

Bad Governance is being recognized as root cause of corrupt practices Corporations are expected to provide good governance to benefit all stakeholders Directors and management, urged by stakeholders and inspired by societal values, have an important role to play

Good Corporate Governance

Obligation to Investors Towards shareholders Informed shareholder participation Transparency Financial Reporting and Records

Good Corporate Governance

Obligation to Employees Fair employment Practices Equal Opportunities Employer Encouraging Whistle Blowing Humane Treatment Empowerment Equitable treatment and Inclusiveness Participative and Collaborative Environment

Good Corporate Governance

Obligation to Customers Quality of Products & Services Products at Affordable Prices Commitment to Customer Satisfaction

Good Corporate Governance

Managerial Obligation Protecting Company Assets Behavior towards Government Agencies Control Consensus Oriented Gifts and Donations

Good Corporate Governance

Managerial Obligation Distinction between Direction and Management Managing Directors and Whole-Time Directors

Corporate Excellence
According to a survey on Corporate Excellence carried out by Credit Lyonnais, three Indian cos.- Infosys, HLL and Wipro are amongst Asias top 10 corporations in terms of good governance practices. Also, ICICI, Cummins India, HDFC, Ranbaxy, Dr. Reddys Lab,Orchid chemicals and many Tata group cos. Share this honour.

Initiatives of the Deptt. Of Company Affairs

In May 2000, a group of leading industrialists, professionals and academics were invited to study and recommend measures to enhance corporate excellence in India. Examined the subject of Corporate Excellence through sound Corporate Governance

Recommendations of the Task Force

Greater role and Influence for nonexecutive, independent Directors Stringent punishment for EDs for failing to comply with listing and other requirements Limitation on the nature of and no. of directorship of managing and whole time directors

Recommendations of the Task Force

Proper disclosure to the shareholders and investing community Interested shareholders to abstain from voting on specified matters More meaningful and transparent accounting and reporting Tougher listing and compliance regimen through a centralized National Listing authority Code of public behavior for PSUs

Corporate Excellence
The Award for excellence in Corporate Governance, instituted in 1999, by the Ministry of Finance under the DCA is sponsored by DLF (formerly by Unit Trust of India).

ICSI National Award for Excellence in Corporate Governance- 2010 Presented to Dr. Reddys Laboratories Limited and Larsen & Toubro Limited Hindustan Unilever-2011

NATIONAL AWARDS Environment Management Award (GPEMA) Eco-Innovation Award (GPEIA) Occupational Health and Safety Award (GPOHSA) Award for Climate Security (GPACS) National Training Award (GPNTA) Innovation Award (GPIA) Award for Excellence in Corporate Governance (GPAECG) Award for Corporate Social Responsibility (GPAECSR) National Quality Award (GPNQA) Innovation Management Award (GPIMA) Innovative Product / Service Award (GPIPSA)