Page 100 - Kolte Patil AR 2019-20

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