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Corporate Governance

SEL is committed to good governance practices that create long term sustainable shareholder value. The Company’s philosophy on Corporate Governance envisages the attainment of the highest levels of transparency, accountability and equity in all facets of its operations and in all its interactions with its shareholders, employees, the Government and the lenders.

As an important step towards Corporate Governance and a part of compliance under Clause 49 of the SEBI Guidelines for the listed companies, SEL has constituted its Board of Directors by inducting independent professionals of stature and nominees. In order to have an efficient and effective control over the operations of the Company in line with the Corporate Governance, the following committees have been formed :

Audit Committee

It comprises of three Independent Directors , Radhe Shyam - Chairperson - Independent - Non Executive; Ashok kumar Doda - Independent - Non Executive; and Om Parkash Singhal - Independent - Non Executive.

The broad terms of reference of the Audit Committee are as follows :

  • Oversee Company’s financial reporting process and disclosure of its financial information to ensure that the financial statements are correct, sufficient and credible.
  • Recommend the appointment and removal of external auditor, fixing audit fees and also approval for payment for any other service.
  • Review with Management the quarterly, half yearly and annual financial statements before submission to the Board.
  • Review with the Management, External and Internal Auditors the adequacy of the internal control system.
  • Review the adequacy of the internal audit function and discussion with Internal Auditors for any significant findings and follow up thereon.
  • Review the findings of any internal investigation conducted by Internal Auditors in matters where there is suspected fraud.
  • Discussion with External Auditors before the audit commences, the nature and scope of audit as well as the post audit discussion to ascertain any area of concern.
  • Review Company’s Financial Risk Management policies and also look into the reasons for substantial defaults in payments to shareholders and creditors.

 

Risk Management Committee

The Risk Management Committee comprises of senior managers Mr. Raju Pillai , Mr. Prakash Taparia and Mr. Vimal Kaswa. The Committee meets at regular intervals to monitor price fluctuation of commodities and review Financial and Risk Management policies of the Company.

Nomination and Remuneration / Compensation Committee

The Board has constituted a Remuneration/Compensation Committee comprising Mr. Radhe Shyam- Chairperson - Non-Executive, Mr. Om Parkash Singhal - Non-Executive, and Shipra Malhotra- Non-Executive.

The Committee has been constituted to recommend/review remuneration of the managerial personnel based on their performance and defined assessment criteria, and to bring about objectivity in determining the remuneration package while striking a balance between the interest of the Company and that of the shareholders. The Committee also monitors and administers the implementation of Employees’ Stock Option Schemes.

Stakeholders Grievance Committee

The Investors’ Grievance Committee comprises of Mr. Radhe Shyam - Chairman, Ms. Shipra Malhotra and Mr. Amit Amist.

The broad term of reference of the Committee is to look into the redressing of shareholder and investor complaints like non-receipt of securities, transfer of shares, non-receipt of balance sheet, non-receipt of dividend, etc.

Insider Trading

Sakuma Exports Ltd. ( SEL) adheres to the Code of Conduct for prohibition of Insider Trading as per norms of SEBI.

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