Corporate Governance till 14th September 2014 was Applicable for companies having Capital of Rs. 3 crore and above or having Net Worth of Rs. 25 crores or more at any time in the history of the company.
Post which, Corporate Governance from 15th September 2014 as per SEBI Circular CIR/CFD/POLICY CELL/7/2014 was Applicable for Companies having paid up equity share capital not exceeding Rs. 10 Crore and Net Worth not exceeding Rs. 25 crore, as on the last day of the previous financial year;
In both the scenarios, the company never qualified under Corporate Governance Regulations.
Hence, Corporate Governance regulations were never applicable to the company till date.
Our corporate governance philosophy is based on the principles of equity, fairness, transparency, spirit of law and honest communication. The Company believes that sound corporate governance is necessary to retain stakeholders’ trust and ensures efficient working and proper conduct of the business of the Company with integrity. Development of Corporate Governance guidelines is a continuous process, which evolves over a period of time and undergoes changes to suit the changing times and needs of the business, society and the nation.