Atul Ltd 2018-19

2.1.4 Recommending: i) appointment of the Statutory Auditors ĿĿȴ ǛŠîŕ ēĿDŽĿēĚŠē 2.1.5 Reviewing: i) corporate strategy, major plans of action, Risk Policy, annual budgets and business plans ii) default in payment of statutory dues iii) fatal or serious accidents, dangerous occurrences and material environmental matters ĿDŽȴ ljūƑĚĿijŠ ĚNJČĺîŠijĚ ĚNJƎūƙƭƑĚ îŠē ĚNJČĺîŠijĚ ƑîƥĚ ŞūDŽĚŞĚŠƥȡ Ŀlj ŞîƥĚƑĿîŕ DŽȴ ƥĺĚ ĿŠƥĚijƑĿƥNj ūlj ƥĺĚ îČČūƭŠƥĿŠij îŠē ǛŠîŠČĿîŕ ƑĚƎūƑƥĿŠij ƙNjƙƥĚŞƙȡ îŠē ƥĺîƥ îƎƎƑūƎƑĿîƥĚ ƙNjƙƥĚŞƙ ūlj ČūŠƥƑūŕ îƑĚ ĿŠ ƎŕîČĚȡ ĿŠ ƎîƑƥĿČƭŕîƑȡ ƙNjƙƥĚŞƙ ljūƑ ƑĿƙŒ ŞîŠîijĚŞĚŠƥȡ ǛŠîŠČĿîŕ îŠē ūƎĚƑîƥĿūŠîŕ ČūŠƥƑūŕȡ îŠē ČūŞƎŕĿîŠČĚ DžĿƥĺ ƥĺĚ ŕîDž and relevant standards 2.1.6 Setting: i) a corporate culture and the Values ĿĿȴ DžĚŕŕȹēĚǛŠĚē ŞîŠēîƥĚȡ ČūŞƎūƙĿƥĿūŠ îŠē DžūƑŒĿŠij ƎƑūČĚēƭƑĚƙ ūlj ƥĺĚ ūŞŞĿƥƥĚĚƙ 2.1.7 Others: i) Acting on a fully informed basis, in good faith, with due diligence and care, and in the best interest of the Company and the shareholders ĿĿȴ ŕĿijŠĿŠij ƑĚŞƭŠĚƑîƥĿūŠ ūlj ƥĺĚ ŒĚNj ĚNJĚČƭƥĿDŽĚƙ îŠē ƥĺĚ ūîƑē qĚŞċĚƑƙ DžĿƥĺ ƥĺĚ ŕūŠijȹƥĚƑŞ ĿŠƥĚƑĚƙƥƙ ūlj ƥĺĚ ūŞƎîŠNj and the shareholders iii) Applying high ethical standards ĿDŽȴ ƙƙĿijŠĿŠij ƙƭljǛČĿĚŠƥ ŠƭŞċĚƑ ūlj ƥĺĚ sūŠȹĚNJĚČƭƥĿDŽĚ ūîƑē qĚŞċĚƑƙ ČîƎîċŕĚ ūlj ĚNJĚƑČĿƙĿŠij ĿŠēĚƎĚŠēĚŠƥ ŏƭēijĚŞĚŠƥ ƥū ĿƥĚŞƙ DžĺĚƑĚ ƥĺĚƑĚ Ŀƙ î ƎūƥĚŠƥĿîŕ ljūƑ ČūŠǜĿČƥ ūlj ĿŠƥĚƑĚƙƥ DŽȴ ƙƙĿƙƥĿŠij ƥĺĚ /NJĚČƭƥĿDŽĚ qîŠîijĚŞĚŠƥ ċNj ČĺîŕŕĚŠijĿŠij ƥĺĚ îƙƙƭŞƎƥĿūŠƙ ƭŠēĚƑŕNjĿŠij ƙƥƑîƥĚijNjȡ ƙƥƑîƥĚijĿČ ĿŠĿƥĿîƥĿDŽĚƙ ȳƙƭČĺ îƙ îČƐƭĿƙĿƥĿūŠƙȴȡ ƑĿƙŒ îƎƎĚƥĿƥĚȡ ĚNJƎūƙƭƑĚƙ îŠē ƥĺĚ ŒĚNj îƑĚîƙ ūlj ljūČƭƙ ūlj ƥĺĚ ūŞƎîŠNj vi) Encouraging training of the Directors on a continuous basis to ensure that the Board Members are kept up-to-date DŽĿĿȴ /NJĚƑČĿƙĿŠij ūċŏĚČƥĿDŽĚ îŠē ĿŠēĚƎĚŠēĚŠƥ ŏƭēijĚŞĚŠƥ ūŠ ČūƑƎūƑîƥĚ îljljîĿƑƙ viii) Facilitating the Independent Directors to perform their role effectively as the Board Members and also as the Members of Committees ĿNJȴ qĚĚƥĿŠij ƥĺĚ ĚNJƎĚČƥîƥĿūŠƙ ūlj ūƎĚƑîƥĿūŠîŕ ƥƑîŠƙƎîƑĚŠČNj ūlj ƥĺĚ ƙƥîŒĚĺūŕēĚƑƙ DžĺĿŕĚ ŞîĿŠƥîĿŠĿŠij ČūŠǛēĚŠƥĿîŕĿƥNj ūlj information in order to foster a culture of good decision-making 2.2 Appointment and tenure 2 | 3 rd of the Directors (other than the Independent Directors) are rotational Directors. 1 | 3 rd of rotational Directors retire in every Annual General Meeting (AGM) and, if eligible, offer themselves for reappointment. ¹ĺĚ ØĺūŕĚȹƥĿŞĚ 'ĿƑĚČƥūƑƙ îƑĚ îƎƎūĿŠƥĚē ċNj ƥĺĚ qĚŞċĚƑƙ ljūƑ î ƎĚƑĿūē ƭƎ ƥū ǛDŽĚ NjĚîƑƙȦ ¹ĺĚ ČūŠƥƑîČƥƙ DžĿƥĺ ØĺūŕĚȹƥĿŞĚ 'ĿƑĚČƥūƑƙ ƎƑūDŽĿēĚ ŠūƥĿČĚ ƎĚƑĿūē ūlj ƙĿNJ ŞūŠƥĺƙ îŠē ƙĚDŽĚƑîŠČĚ ƎîNj îƙ ƎĚƑ ƥĺĚ ƎƑūDŽĿƙĿūŠƙ ūlj ƥĺĚ ūŞƎîŠĿĚƙ Čƥȡ ǨǦǧǩȦ 2.3 Composition, name, other directorships | committee memberships ¹ĺĚ ūîƑē ČūŞƎƑĿƙĚƙ ĚNJƎĚƑƥƙ ēƑîDžŠ ljƑūŞ ēĿDŽĚƑƙĚ ǛĚŕēƙ ʈ ƎƑūljĚƙƙĿūŠƙȦ ƥ ƥĺĿƙ ƥĿŞĚȡ Ŀƥ ČūŠƙĿƙƥƙ ūlj ǧǧ qĚŞċĚƑƙ ČūŞƎƑĿƙĿŠij ƙĚDŽĚŠ sūŠȹĚNJĚČƭƥĿDŽĚ 'ĿƑĚČƥūƑƙ ȳƙĿNJ TŠēĚƎĚŠēĚŠƥ îŠē ūŠĚ sūŠȹĿŠēĚƎĚŠēĚŠƥ ȴȡ ljūƭƑ /NJĚČƭƥĿDŽĚ 'ĿƑĚČƥūƑƙ ȳĿŠČŕƭēĿŠij two promoters). The Independent Directors account for 54% of the strength of the Board, as against minimum ƑĚƐƭĿƑĚŞĚŠƥ ūlj ǫǦɼ îƙ ƎĚƑ ƥĺĚ ¬ĚČƭƑĿƥĿĚƙ îŠē /NJČĺîŠijĚ ūîƑē ūlj TŠēĿî ȳgĿƙƥĿŠij ~ċŕĿijîƥĿūŠƙ îŠē 'ĿƙČŕūƙƭƑĚ ¤ĚƐƭĿƑĚŞĚŠƥƙȴ ¤ĚijƭŕîƥĿūŠƙȡ ǨǦǧǫ ȳƥĺĚ ¤ĚijƭŕîƥĿūŠƙȴ îŠē ǩǩȦǩǩɼ îƙ ƎĚƑ ƥĺĚ ūŞƎîŠĿĚƙ Čƥȡ ǨǦǧǩȦ ¹ĺĚ TŠēĚƎĚŠēĚŠƥ 'ĿƑĚČƥūƑƙ ljƭŕǛŕŕ ƥĺĚ Corporate Overview 01-22 Statutory Reports 23-105 Financial Statements 107-250 64 Atul Ltd | Annual Report 2018-19