Page 27 - Balmer Lawrie Sustainability Report 2022_Single Pages

The Company is committed to maintaining sound acquisitions and divestments and monitoring the
Corporate Governance practices aimed at increasing effectiveness of the Company’s governance practices and
value for its stakeholders. The Corporate Governance making changes as needed. The Board ensures that
philosophy of the Company is based on the following appropriate governance mechanisms are in place to
five pillars: monitor the Company’s performance, including progress
and continuous improvement efforts concerning its
• High accountability to the stakeholders on the affairs of economic, environmental and social performance.
the Company.
The responsibility of the Board of Directors also includes
• Absolute transparency in the reporting system and monitoring and managing potential conflicts of interest of
adherence to disclosure and compliances. management, members of the Board and shareholders,
including misuse of corporate assets and abuse in related
• High ethical standards in the conduct of the business party transactions and also ensuring the integrity of the
with due compliance of laws and regulations.
Company’s accounting and financial reporting systems,
including the independent audit, and that appropriate
• Enhancement of stakeholders’ value on a consistent
basis. systems of control are in place, in particular, systems for
risk management, financial and operational control, and
compliance with the law and relevant standards.
• Contributing to the enrichment of quality of life of the
community through discharge of Corporate Social
Responsibility and promotion of Sustainable Being a Central Public Sector Enterprise, The President
Development. of India holds the right to nominate one or more Directors
to the Board of the organisation.
Our Board of Directors As on 31st March 2022, the Board of the Company
We are spearheaded by a competent, knowledgeable and comprised of 10 Directors, out of which 3 were Executive
committed Board of Directors. The Board provides Directors, 2 were Government Nominee Directors and 5
strategic guidance and independent views to the were Independent Directors. The intervening period
Company’s senior management. The Board of Directors between any two Board meetings was within the period
(the Board) is primarily responsible for reviewing and recommended under the Companies Act, 2013, SEBI
guiding corporate strategy, major plans of action, risk policy, (LODR) Regulations, 2015 and DPE Guidelines on
annual budgets and business plans, setting performance Corporate Governance. The number of Board meetings
objectives, monitoring implementation and corporate held during the said period were 8.
performance and overseeing major capital expenditures,

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