Page 71 - FBL AR 2019-20

CORPORATE STATUTORY FINANCIAL
OVERVIEW STATEMENTS STATEMENTS

The Company has an experienced and qualified finance department has formulated a code on ‘Redressal of Grievances Regarding
which plays an important role in implementing and monitoring Sexual Harassment’. The Company has set up, ‘Internal Complaints
the internal control procedures and compliance with statutory Committee’ for Company’s each location for redressal of grievances
requirements. The Audit Committee and the Board of Directors and to protect women against any harassment.
review the report(s) of the independent Internal Auditors at regular During the year under review, no complaint was received in the
intervals along with the adequacy, effectiveness and observations Company.
of the Internal Auditors regarding internal control system and
recommends improvements and remedial measures, wherever INFORMATION TECHNOLOGY
necessary.
Information Technology (IT) acted as an enabler of productivity by
HUMAN RESOURCES implementing sophisticated application environments (e.g. SAP
HANA, ITSM Platform for ERP). Your Company will continue to invest
The information required under rule 5(1) and rule 5(2) of the in upgradation of Cloud based CRM and HRIS Platform.
Companies (Appointment and Remuneration of Managerial
Personnel) Rules, 2014 read with Section 197 (12) of the Act in Your Company’s IT Team manages Company’s operations with
respect of employee remuneration and other details forms part state-of-the-art technology and has been incorporating new
of this report and provided as Annexure IV. Other applicable technologies into the system. In addition, mobility solution and
information for the above provisions will be made available to the support has played a key role in achieving improved deliverables,
members upon their request. specifically in the COVID situation when the nationwide lockdown
was imposed.
The Company had a headcount of 524 employees during the
year under review. After the Effective Date of the said merger, the Annual Application & Control Audits are undertaken to ensure
employment services of all the employees of Transferor company consistent remediation of any business and process risks. In addition
were transferred to the Company as per the terms of the NCLT order to that, your company did few investments in technology to cater to
and the approved Scheme of Amalgamation. The Company has the sudden disruption caused by COVID-19. Moving to Work from
cordial relation with its employees at all locations. Home mode in the nationwide lockdown situation was an easy
affair with respect to IT infrastructure. To enhance the security, add
EMPLOYEE STOCK OPTIONS on cybersecurity controls and 24x7 monitoring mechanisms were
During FY 2019-20, the Company has adopted Old FBL’s employee implemented over and above the existing infrastructure built over
stock option plan as the Company’s new ‘Fermenta Biotech Limited a period. This enabled the Company to execute business as usual
-Employee Stock Option Plan 2019’ (“ESOP 2019”) in view of NCLT in unusual times. Adequate training was provided to employees to
directives vide order sanctioning the Scheme of Amalgamation, enable them to handle such enhanced applications.
and approved increase in the limit for grant of upto 1,94,555 Your Company continues to drive excellence through a strong focus
options (revised to 5,83,665 options pursuant to the approval of on managing the details, and a culture ingrained with continuous
issue of bonus shares by members in the ratio of 2:1, in accordance improvements.
with clause 3.6, 12.3 and other applicable provisions of ESOP 2019)
(corresponding to equity share of face value of H5 each) under DEPOSITS
ESOP 2019. Members of the Company vide postal ballot including In FY 2019-20, your Company has not accepted any deposits under
e-voting has approved ESOP 2019 on January 28, 2020.
Section 73 of the Act including rules framed thereunder, and no
During the FY 2019-20, the number of options granted to the principal or interest remains unpaid or unclaimed as on March 31,
employees of the Company post-merger (September 26, 2019) and 2020.
post bonus issue (February 14, 2020) was 4,27,647.
CREDIT RATING
Disclosures pursuant to Regulation 14 of the SEBI (Share Based
Employee Benefits) Regulations, 2014 read with SEBI Circular dated Post-Merger of the Transferor company with the Transferee
June 16, 2015 are provided as at the Company’s website at https:// company, during the FY 2019-20, CARE Ratings Ltd. has maintained
fermentabiotech.com/investor_relations.php the credit rating as assigned to the Transferor company. The rating
on Long Term Bank Facilities for fund based limits and term loan has
PREVENTION OF SEXUAL HARASSMENT OF WOMEN been maintained at CARE A- (Single A minus) with Stable outlook
AT WORKPLACE and credit rating on Short Term Bank Facilities for non-fund based
limits has been maintained at CARE A2 (Single A two).
The Company is committed to providing a safe and conducive work
environment to all its employees and associates. DIRECTORS
In accordance with the requirements of the Sexual Harassment of Independent Directors:
Women at the Workplace (Prevention, Prohibition and Redressal)
Act, 2013 and the Rules framed thereunder (‘POSH’), the Company Independent Directors have made relevant declarations to

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