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Finance and CFO has certied in writing with respect to the truth and fairness of
the nancial statements, due compliances and nancial reporting which was
placed before the Audit Committee and the Board of Directors is enclosed to this
Report as Annexure – 5.

50.3 Certicate on Compliance of Corporate Governance

Certicate obtained from the statutory auditor M/s. V.K. Surana & Co., Chartered
Accountants regarding compliance of the conditions of Corporate Governance is
placed as Annexure – 6.

51. CODE OF CONDUCT

The Board of Directors of the Corporation has approved the revised “Code of
Business Conduct and Ethics for Board Members and Senior Management” for
better Corporate Governance and fair & transparent practices as per Guidelines
issued by the Department of Public Enterprises. The revised Code of Conduct is
displayed on the website of the Corporation at http://konkanrailway.com/
uploads/editor_images/1550560293_Revised%20Code%20of%20conduct%20-
%20%20Approved%20-%20155%20BoD%20-%2018-01-2019.pdf.

The Board members and Senior Management personnel to whom the said Code
is applicable have afrmed compliance with the same for the year ended 31st
March, 2020. A declaration to this effect signed by the Chairman & Managing
Director of the Corporation is appended hereunder.

51.1 DECLARATIONS

Pursuant to the Department of Public Enterprise's (DPE) Guidelines on Corporate
Governance for Central Public Sector Enterprises as contained in the DPE OM
No. 18(8)/2005-GM dated 14 May 2010, it is hereby declared that all Board
Members and Senior Management Personnel of the Corporation have afrmed
compliance with the Code of Conduct & Ethics for Board Members and Senior
Management Personnel of Konkan Railway Corporation Limited, for the year
ended 31st March, 2020.

52. DISCLOSURES

52.1 During the year, there has been no materially signicant related party transaction

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