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Report on Corporate Governance •

145

E. Stakeholders Relationship Committee

Brief description

The Stakeholders Relationship Committee was constituted on October 4, 2007.

The Committee specifically looks into the redressal of shareholders’ and investors’ grievances such as transfer of shares,

non-receipt of Balance Sheet, non-receipt of declared dividends, etc.

The Chairman of the Committee is an Independent Director.

Table 17 gives the composition of the Stakeholders Relationship Committee of the Board of Directors as on March 31, 2019.

Table 17: Composition of the Stakeholders Relationship Committee

Name of the Director

Category

Mr. Sanjay Bhattacharyya

Chairman of the Committee and Independent Director

Dr. Anand Deshpande

Chairman and Managing Director

Mr. Sunil Sapre

Executive Director and Chief Financial Officer

Mr. Kiran Umrootkar

Independent Director

There were no changes in the constitution of the Committee during the financial year 2018-19.

Mr. Amit Atre, Company Secretary of the Company is the Secretary of the Committee for the purpose of stakeholders’ related

matters.

The Committee was constituted with the powers and responsibilities including but not limited to -

To supervise and ensure efficient share transfers, share transmission, transposition, etc.;

ii.

To approve allotment, transfer, transmission, transposition, consolidation, split, name deletion and issue of duplicate share

certificate of equity shares of the Company;

iii.

To redress shareholder and depositor complaints like non-receipt of Balance Sheet, non-receipt of declared dividends, etc.;

iv.

To review service standards and investor service initiatives undertaken by the Company;

To address all matters pertaining to Registrar and Share Transfer Agent including appointment of new Registrar and Share

Transfer Agent in place of existing one;

vi.

To address all matters pertaining to Depositories for dematerialization of shares of the Company and other matters

connected therewith;

vii. To resolve the grievances of the security holders of the listed entity including complaints related to transfer / transmission

of shares, non-receipt of annual report, non-receipt of declared dividends, issue of new / duplicate certificates, general

meetings etc. (Effective from April 1, 2019);

viii. To review of measures taken for effective exercise of voting rights by shareholders (Effective from April 1, 2019);

ix.

To review of adherence to the service standards adopted by the listed entity in respect of various services being rendered

by the Registrar & Share Transfer Agent (Effective from April 1, 2019);

To review of the various measures and initiatives taken by the listed entity for reducing the quantum of unclaimed

dividends and ensuring timely receipt of dividend warrants/annual reports/statutory notices by the shareholders of the

company (Effective from April 1, 2019); and

xi.

To attend to any other responsibility as may be entrusted by the Board within the terms of reference.

Meetings and attendance

The Committee meets at least once in every financial year. Two meetings of the Committee were held during the Financial

Year 2018-19.