Page 100 - Kolte Patil AR 2019-20

REPORT ON

CORPORATE GOVERNANCE

COMPANY’S PHILOSOPHY OF CORPORATE GOVERNANCE Naresh Patil, Mr. Milind Kolte, Mrs. Sunita Kolte and Mrs. Vandana
We believe that Corporate Governance signifies ethical highest Patil are related to each other. Further, Mr. G L Vishwanath and
standards of transparency, integrity and accountability towards Mrs. Manasa Vishwanath are also related to each other.
all its stakeholders. These ethical standards can be ingrained in Sr. Name of the Director Relationship inter- se
the character of the organization through tradition, value systems No.
and commitment to the later as much as the spirit of laws and 1 Mr. Rajesh Patil Brother of Mr. Naresh Patil and
regulations. Corporate Governance is the cornerstone of Kolte- Mrs. Sunita Kolte
Patil’s governance philosophy of the trusteeship, transparency,
accountability and ethical corporate citizenship. 2 Mr. Naresh Patil Husband of Mrs. Vandana Patil
and Brother of Mr. Rajesh Patil
In our endeavor to adopt the best Corporate Governance and Mrs. Sunita Kolte
and disclosure practices, the Company complies with all 3 Mr. Milind Kolte Husband of Mrs. Sunita Kolte
the requirements of SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015 as amended from time to time 4 Mrs. Sunita Kolte Wife of Mr. Milind Kolte and
(“Listing Regulations”). Sister of Mr. Rajesh Patil and Mr.
Naresh Patil
Pursuant to Regulation 34 read with Part C of Schedule V of the
Listing Regulations, the Company hereby presents a Report on 5 Mrs. Vandana Patil Wife of Mr. Naresh Patil
Corporate Governance to its members for the Financial Year 2019- 6 Mr. G. L. Vishwanath Husband of Mrs. Manasa
2020. Vishwanth
7 Mrs. Manasa Vishwanath Wife of Mr. G L Vishwanath
1. BOARD OF DIRECTORS
The Board of Directors provide leadership and guidance to the 3. None of the Directors on the Board is a member of more than
Company’s management and directs, supervises and controls ten committees or Chairman of more than five committees
the performance of the Company while adhering to the highest across all the Companies in which he is a Director. Necessary
standards of good corporate governance. The Independent disclosures regarding committee positions in other public
Directors are trustees of good corporate governance. Combined, companies as on 31 March 2020 have been made by the
they truly safeguard the rights and interests of the shareholders of Directors to the Company.
the Company. The Board of the Company comprises of a diverse 4. The names and categories of the Directors on the Board,
and fine blend of experienced and responsible Executive and their attendance at the Board Meetings held during the year
Independent Directors
and number of Directorships and Committee Chairmanship/
Membership held by them in other Companies are given
a) Size and Composition of Board :
1. As on 31 March 2020, the Company has Ten (10) Directors with herein below. Other Directorship does not include Alternate
Directorships, Directorship of Private Limited Companies,
an Executive Chairman. Out of the ten Directors, Seven are Section 8 Companies and of Companies Incorporated Outside
Non-Executive and of which five are Independent Directors. India. Chairmanship / Membership of Board Committees
The Composition of Board is in conformity with Regulation 17 include Audit Committee and Stakeholders ’Relationship
of the Listing Regulations.
Committees:-
2. Relationship between Directors inter-se: - Mr. Rajesh Patil, Mr.

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