(g) The Securities and Exchange Board of India (Delisting
of Equity Shares) Regulations, 2009;
Not Applicable
(h) The Securities and Exchange Board of India (Buyback
of Securities) Regulations, 1998;
Not Applicable
(vi) As confirmed and certified by the management, there is no
law specifically applicable to the Company based on the
Sectors / Businesses.
We have also examined compliance with the applicable clauses/
Regulations of the following:
(i) Secretarial Standards issued by The Institute of Company
Secretaries of India and effective from 01.07.2015.
(ii) The Listing Agreements entered into by the Company with
National Stock Exchange of India Limited, BSE Limited /
SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015 effective from 01.12.2015.
During the period under review the Company has generally
complied with the provisions of the Act, Rules, Regulations,
Guidelines, Standards, etc. mentioned above.
We further report that:
The Board of Directors of the Company is duly constituted
with proper balance of Executive Directors, Non-Executive
Directors and Independent Directors. The changes, if any, in the
composition of the Board of Directors that took place during
the period under review were carried out in compliance with
the provisions of the Act.
Adequate notice is given to all directors to schedule the Board
Meetings. Agenda and detailed notes on agenda were sent at
least seven days in advance and a system exists for seeking and
obtaining further information and clarifications on the agenda
items before the meeting and for meaningful participation at
the meeting.
All decisions at Board Meetings and Committee Meetings are
carried out unanimously as recorded in the minutes of the
meetings of the Board of Directors or Committee of the Board,
as the case may be.
We further report that there are adequate systems and
processes in the Company commensurate with the size and
operations of the Company to monitor and ensure compliance
with applicable laws, rules, regulations and guidelines.
We further report that during the audit period no specific
events / actions took place having a major bearing on the
Company’s affairs in pursuance of the above referred laws,
rules, regulations, guidelines, standards, etc.
Date: 27th May 2016
Place: Delhi
Rupesh Agarwal
Partner
For Chandrasekaran Associates
Company Secretaries
Membership No. ACS 16302
Certificate of Practice No. 5673
Note:
This report is to be read with our letter of even date which is annexed as Annexure-A and form forms an integral part of this
report.
ANNUAL REPORT 2015-16
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