CORPORATE GOVERNANCE The Directors present the Company’s Report on Corporate Governance which sets out systems and processes of the Company, as prescribed in Regulation 17 to 27 of Securities and Exchange Board of India (SEBI) (Listing Obligations and Disclosure Requirements) Regulations, 2015 (hereinafter referred to as “SEBI Regulations”) and some of the practices followed by the Company on Corporate Governance, for the Financial Year ended on 31st March, 2017. The Company has complied with the requirements of the Corporate Governance in terms of Listing Agreement executed with National Stock Exchange of India Limited (NSE) and BSE Limited (BSE). This report sets out the Group’s Corporate Governance practices with specific reference to the Code of Corporate Governance 2012 (the “Code”) and the Disclosure Guide on Compliance with the Code developed by the Singapore Exchange Securities Trading Limited (the “SGX-ST”) in January 2015. The Board of Directors presents a composite Corporate Governance report on the compliance of the Indian and Singapore Listing requirements in the following paragraphs. 1. The Company’s Philosophy on Corporate Governance The Directors and Management of the Company and its Subsidiaries are committed to maintain high standards of Corporate Governance in conducting its business and ensure that an effective self regulatory mechanism exists to protect the interest of our Indian stakeholders (Investors, Customers, Suppliers and Government) and Singapore Depository Shareholders. 2. Board of Directors The Board of Directors comprises of highly renowned professionals drawn from diverse fields. They collectively bring with them a wide range of skills and experience to the Board, which enhances the quality of the Board’s decision making process. (a) COMPOSITION:- The Composition of Board is in compliance with the SEBI Regulations, 2015. The Composition of Board of the Company is also complying with the requirements of Singapore Stock Exchange – Code of Corporate Governance Guide Line 2.2. The Singapore Stock Exchange has exempted the Company from the requirements of two resident directors on the Board. The Board is of the opinion that the current Board Comprises of persons who as a group, have core competencies such as finance, accounting, legal, business and industry knowledge necessary to lead and manage the Company and given the scope and the nature of the Company’s operations, the present size of the Board is appropriate for effective decision making. (b) LIMIT ON NUMBER OF DIRECTORSHIP:- None of the Director of the Company is appointed in more than 10 Committees or is acting as Chairman in more than 5 (Five) Committees across all Companies in which he is a Director. None of the Director of the Company is holding Directorship in more than 10 Public Limited Companies. None of an Independent Directors serve as an Independent Director in more than 7 (Seven) Listed Companies. Independent Directors play an important role in the governance processes of the Board. They bring with them their expertise and experience for fruitful discussions and deliberations at the Board. This betters the decision making process at the Board. Category No. of Directors % Non Executive & Independent Directors 6 55% Executive Director 5 45% Total 11 100% MEGHMANI ORGANICS LIMITED 41 SGX
28
Embed
MEGHMANI ORGANICS LIMITED CORPORATE … scope and the nature of the Company’s operations, the present size of the Board is appropriate for effective decision making. (b) limit on
This document is posted to help you gain knowledge. Please leave a comment to let me know what you think about it! Share it to your friends and learn new things together.
Transcript
CORPORATE GOVERNANCE
The Directors present the Company’s Report on Corporate Governance which sets out systems and processes of the
Company, as prescribed in Regulation 17 to 27 of Securities and Exchange Board of India (SEBI) (Listing Obligations and
Disclosure Requirements) Regulations, 2015 (hereinafter referred to as “SEBI Regulations”) and some of the practices followed
by the Company on Corporate Governance, for the Financial Year ended on 31st March, 2017.
The Company has complied with the requirements of the Corporate Governance in terms of Listing Agreement executed with
National Stock Exchange of India Limited (NSE) and BSE Limited (BSE).
This report sets out the Group’s Corporate Governance practices with specific reference to the Code of Corporate Governance
2012 (the “Code”) and the Disclosure Guide on Compliance with the Code developed by the Singapore Exchange Securities
Trading Limited (the “SGX-ST”) in January 2015.
The Board of Directors presents a composite Corporate Governance report on the compliance of the Indian and Singapore
Listing requirements in the following paragraphs.
1. The Company’s Philosophy on Corporate Governance
The Directors and Management of the Company and its Subsidiaries are committed to maintain high standards of
Corporate Governance in conducting its business and ensure that an effective self regulatory mechanism exists to
protect the interest of our Indian stakeholders (Investors, Customers, Suppliers and Government) and Singapore
Depository Shareholders.
2. Board of Directors
The Board of Directors comprises of highly renowned professionals drawn from diverse fields. They collectively bring
with them a wide range of skills and experience to the Board, which enhances the quality of the Board’s decision making
process.
(a) COMPOSITION:-
The Composition of Board is in compliance with the SEBI Regulations, 2015.
The Composition of Board of the Company is also complying with the requirements of Singapore Stock Exchange –
Code of Corporate Governance Guide Line 2.2. The Singapore Stock Exchange has exempted the Company from the
requirements of two resident directors on the Board.
The Board is of the opinion that the current Board Comprises of persons who as a group, have core competencies such
as finance, accounting, legal, business and industry knowledge necessary to lead and manage the Company and given
the scope and the nature of the Company’s operations, the present size of the Board is appropriate for effective decision
making.
(b) LIMIT ON NUMBER OF DIRECTORSHIP:-
None of the Director of the Company is appointed in more than 10 Committees or is acting as Chairman in more than
5 (Five) Committees across all Companies in which he is a Director.
None of the Director of the Company is holding Directorship in more than 10 Public Limited Companies. None of an
Independent Directors serve as an Independent Director in more than 7 (Seven) Listed Companies.
Independent Directors play an important role in the governance processes of the Board. They bring with them their
expertise and experience for fruitful discussions and deliberations at the Board. This betters the decision making
process at the Board.
Category No. of Directors %
Non Executive & Independent Directors 6 55%
Executive Director 5 45%
Total 11 100%
MEGHMANI ORGANICS LIMITED
41 SGX
CORPORATE GOVERNANCE
The Independent Directors have been appointed for a fixed term of 5 (Five) years from their respective dates of
appointment with an option to retire from the office at any time during the term of appointment. Their appointment has
been approved by the Members of the Company.
The Independent Directors have confirmed that they meet with the criteria of independence laid down under the Act, the
Code and SEBI Regulations, 2015.
(c) SEPARATE MEETING OF INDEPENDENT DIRECTOR:-
The Independent Directors had met on 6th February, 2017, without the attendance of Non-Independent Directors and
members of management to discuss the followings:-
(a) Review the performance of Non-Independent Directors and the Board as a whole;
(b) Review the performance of the Chairperson of the Company, taking into account the views of Executive Directors
and Non-Executive Directors;
(c) Assess the quality, quantity and timeliness of flow of information between the Company management and the Board
that is necessary for the Board to effectively and reasonably perform their duties.
(d) ISSUANCE OF LETTER OF APPOINTMENT:-
A formal letter of appointment was issued to all Independent Directors.
(e) NON EXECUTIVE DIRECTORS’ COMPENSATION & DISCLOSURES:-
The Non-Executive Directors were not paid any Compensation except sitting fees. The Board has fixed the sitting fees
payable to Non-Executive Directors within the limits prescribed under the Companies Act, 2013 (hereinafter referred to
as Act). Therefore, requirement of obtaining prior approval of shareholders in General Meeting was not required.
(f) TRAINING OF INDEPENDENT DIRECTOR:-
Newly appointed Director receives appropriate training, if required. In addition, the Board is provided with regular
updates with respect to new laws and regulations in order to adapt to the changing commercial risks relating to the
business and operations of the Group. The Management regularly updates and familiarizes the Directors on the
business activities of the Company during the Board meetings.
The Independent Director is also explained in detail the compliances required under the Companies Act, 2013, SEBI
(Listing Obligations and Disclosure Requirements) Regulations, 2015 and other relevant regulations including
amendments thereof from time to time and their affirmations are taken with respect to the same.
(g) PERFORMANCE EVALUATION OF THE BOARD & INDIVIDUAL DIRECTORS:-
Pursuant to the provisions of the Act and the SEBI Regulations, the Board has carried out the Annual performance
evaluation of its own performance, as well as the evaluation of the working of its Committees. A structured questionnaire
was prepared after taking into consideration inputs received from the Directors, covering various aspects of the Board
functioning such as adequacy of the composition of the Board and its Committees, Board Culture, execution and
performance of specific duties, obligations and governance.
A separate exercise was carried out to evaluate the performance of individual Directors. The Chairman of the Board of
Directors and the Chairman of Nomination and Remuneration Committee met all the Directors individually to get an
overview of the functioning of the Board and its constituents inter alia on the following broad criteria :-
= Attendance and level of participation,
= Independence of judgement exercised by Independent Directors,
= Interpersonal relationship etc.
Based on the valuable inputs received from the Directors, an action plan has been drawn up to encourage greater
engagement of the Independent Directors with the Company. Following the evaluation exercise, the Board is of the view
that the Board and its Committees operate effectively.
MEGHMANI ORGANICS LIMITED
42
CORPORATE GOVERNANCE
(h) DIRECTORSHIPS AND MEMBERSHIP ON COMMITTEES:-
The total number of Directorships held by the Directors and the position of Membership / Chairmanship of Committees is given below. All the Directors are in compliant with the provisions of the Companies Act, 2013 and “SEBI Regulations” in this regard.
* Excludes Directorships held in Private Limited Companies, Foreign Companies and Section 8 Companies:
** Committees considered are Audit Committee & Stakeholder’s Relationship Committee.
(i) NUMBER OF BOARD MEETINGS HELD:-
During the financial year ended on 31st March, 2017, 4 (Four) meetings of the Board of Directors were held and the gap between two meetings did not exceed One hundred and Twenty (120) days. The Board meetings were held on 28.05.2016, 06.08.2016, 25.10.2016 and 06.02.2017.
The last Annual General Meeting of the Company was held on 26th July, 2016.
(j) ATTENDANCE OF DIRECTORS AT BOARD & ANNUAL GENERAL MEETING:-
The details of attendance of the Directors at the Board Meeting during the year and at Annual General Meeting are given below:
Name of Director Designation Category Directorship Committee
in other Public Membership of
Limited other
Companies * Companies**
Mr. Jayanti Patel Executive Chairman Executive 1 Nil
Mr. Ashish Soparkar Managing Director Executive 1 Nil
Mr. Natwarlal Patel Managing Director Executive 4 Nil
Mr. Ramesh Patel Executive Director Executive 1 Nil
Mr. Anand Patel Executive Director Executive Nil Nil
Mr. Chinubhai Shah Independent Director Non - Executive 9 8
Mr. Balkrishna Thakkar Independent Director Non - Executive 1 1
Mr. Jayaraman Vishwanathan Independent Director Non - Executive Nil Nil
Mr. Kantibhai Patel Independent Director Non - Executive 3 2
Mr. Chander Sabharwal Independent Director Non - Executive 1 Nil
Ms. Urvashi Shah Independent Woman Non - Executive 1 Nil
Director
Name of Director Position Board Meeting Attended AGM Attended
Mr. Jayanti Patel Executive Chairman 4 Yes
Mr. Ashish Soparkar Managing Director 4 Yes
Mr. Natwarlal Patel Managing Director 2 Yes
Mr. Ramesh Patel Executive Director 2 Yes
Mr. Anand Patel Executive Director 2 Yes
Mr. Chinubhai Shah Independent Director 4 Yes
Mr. Balkrishna Thakkar Independent Director 4 Yes
Mr. Jayaraman Vishwanathan Independent Director 2 No
Mr. Kantibhai Patel Independent Director 2 Yes
Mr. Chander Sabharwal Independent Director 4 No
Ms. Urvashi Shah Independent Director 3 Yes
MEGHMANI ORGANICS LIMITED
43 SGX
CORPORATE GOVERNANCE
Minimum four Board meetings are held in each year. Apart from the four prescheduled Board meetings, the meetings
would also be convened to address specific needs of the Company.
The Company in consultation with the Directors prepares the annual calendar of meetings and circulates a tentative
Schedule for the meeting of the Board and Committee in order to facilitate the Directors to plan their schedules.
The Board meetings till 31 January, 2017 used to be held at Corporate Office of the Company situated at Meghmani
House, Shreenivas Society, Vikas Gruh Road, Paldi, Ahmedabad 380 007. The meetings after 1st February, 2017 will be
now held at Meghmani House, B/h Safal Profitaire, Corporate Road, Nr. Auda Garden, Prahlad Nagar, Ahmedabad –
380 015 due to change in Corporate Office.
(k) AGENDA FOR BOARD MEETING:-
Agenda and Notes on Agenda are circulated to the Directors in advance, in the defined Agenda format. All material
information is incorporated in the Agenda papers for facilitating meaningful discussion. Where it is not practicable the
same is tabled before the meeting.
The followings are generally tabled for information, review and approval of the Board.
• Annual Operating Plans & Budgets.
• Quarterly Results and its Operating Divisions or Business Segments.
• Minutes of meetings of Audit Committee and Other Committees of the Board of Directors.
• The information on recruitment and remuneration of Senior Officers just below the level of Board of Directors,
including Appointment or Removal of Chief Financial Officer and the Company Secretary.
• Show cause, Demand, Prosecution Notices and Penalty Notices, which are materially important.
• Fatal or serious accidents, dangerous occurrences, any material effluent or pollution problems.
• Any issue, which involves possible public or product liability claims of substantial nature, including any judgement or
order which, may have passed strictures on the conduct of the listed entity or taken an adverse view regarding
another enterprise that may have negative implications on the entity.
• Details of any Joint Venture or Collaboration Agreement.
• Transactions that involve substantial payment towards goodwill, brand equity, or intellectual property.
• Significant labour problems and their proposed solutions.
• Sale of investments, subsidiaries, assets which are material in nature and not in normal course of business.
• Quarterly details of foreign exchange exposures and the steps taken by management to limit the risks of adverse
exchange rate movement, if material.
• Non-compliance of any regulatory, statutory or listing requirements and shareholders service such as non-payment
of dividend, delay in share transfer etc.
(l) POST MEETING FOLLOW-UP MECHANISM:-
The Company has an effective post meeting follow-up, review and reporting process mechanism for the decisions taken
by the Board/Committees. Important decisions taken at the Board/Committee meetings are communicated to the
concerned Functional Heads promptly. Action Taken Report on previous meeting(s) is placed at the immediately
succeeding meeting of the Board/Committee for noting by the Board/Committee members.
(m) RECORDING MINUTES OF PROCEEDINGS AT BOARD AND COMMITTEE MEETINGS:-
As per Secretarial Standard 1 (SS-1) issued by The Institute of Company Secretaries of India (ICSI), the Company
Secretary records the minutes of the proceedings of each Board and Committee meeting. The Draft minutes are
circulated to the members for their comments.
(n) COMPLIANCE REPORT:-
While preparing the Agenda adequate care is taken to ensure adherence to all applicable laws and regulations including
the Companies Act, 2013 read with the Rules made there under, Secretarial standard issued by ICSI.
The Board periodically reviews all statutory compliance reports of all laws applicable to the Company.
MEGHMANI ORGANICS LIMITED
44
Name of Independent Director No. of Equity Shares of ` 1/- each
Mr. Chinubhai Shah 1000
Mr. Balkrishna Thakkar Nil
Mr. Jayaraman Vishwanathan Nil
Mr. Kantibhai Patel Nil
Mr. Chander Sabharwal Nil
Ms. Urvashi Shah Nil
CORPORATE GOVERNANCE
(o) SGX - GUIDELINE 6.1 OF THE CODE- ACCESS TO INFORMATION:-
The Directors have separate and independent access to the Company’s management and the Company Secretary at all
times. Directors are entitled to request from management and should be provided with such information as needed to
make informed decisions in a timely manner. The Board is informed of all material events and transactions as and when
they occurred. Should the Directors, whether individually or collectively, require independent professional advice; such
professionals (who will be selected with the approval of the Chairman of the respective Committees requiring such
advice) will be appointed at the expenses of the Company.
The Company Secretary attends all the Board and Board Committee meetings and attends to the Corporate Secretarial
Administration matters, ensuring that the Board procedures are followed and that applicable rules and regulations are
complied with.
(p) RELATIONSHIP BETWEEN DIRECTORS:-
Except Mr. Jayanti Patel, Mr. Natwarlal Patel and Mr. Ramesh Patel (related as brothers), no other directors are related to
each other.
(q) NUMBER OF SHARES HELD BY NON-EXECUTIVE DIRECTORS:-
Particulars of Equity Shareholding of Independent Directors: - 31.03.2017:
3. COMMITTEES OF THE BOARD OF DIRECTORS
The Board has constituted the following five Committees:–
1. Pigment Division - Green Plot No. 184, Phase II, G.I.D.C. Vatva, Ahmedabad -382 445
2. Pigment Division – Blue Plot No. 21, 21/1, G.I.D.C. Panoli, District :- Bharuch
3. Pigment Division - Blue Plot No. Z-31 Z-32, Dahej SEZ Limited, District :- Bharuch
4. Agro Division – I Plot No. 402,403,404 & 452, Village Chharodi, Taluka Sanand,
District :- Ahmedabad
5. Agro Division – II 5001/B, G.I.D.C. Ankleshwar, District :- Bharuch
6. Agro Division – III Plot No. CH-1+2/A GIDC Industrial Estate, Dahej, District :- Bharuch
7. Agro Division – IV Plot No. 20,G.I.D.C. Panoli, District :- Bharuch
MEGHMANI ORGANICS LIMITED
63 SGX
MEGHMANI ORGANICS LIMITED
64
DIRECTORS' PROFILE
(1) Mr. Jayanti Patel :- DIN 00027224
Mr. Jayanti Meghjibhai Patel, 65 years, is the Executive Chairman of the Company. Mr. Jayanti Patel holds a Bachelors of Chemical Engineering degree from Maharaja Sayajirao University, Baroda. He currently oversees the International Marketing of our Company and is responsible for all major policy decisions. Mr. Jayanti Patel has more than 40 years experience in the Dyes and Pigments industry and more than 23 years experience in the Agrochemicals industry.
Mr. Jayanti Patel is interested in the following companies and partnership firms.
Mr. Jayanti Patel is the brother of Mr. Natwarlal Patel and Mr. Ramesh Patel.
(2) Mr. Ashish Soparkar:- DIN 00027480
Mr. Ashish Natwarlal Soparkar, 64 years, is the Managing Director of the Company. Mr. Ashish Soparkar holds a Bachelors of Chemical Engineering degree from Maharaja Sayajirao University of Baroda. He currently oversees the Corporate Affairs and Finance Matters of our Company. Mr. Ashish N Soparkar, has more than 40 years experience in the Dyes and Pigments Industry, and more than 23 years experience in the Agrochemicals Industry. Mr. Ashish Soparkar is interested in the following companies and partnership firms.
(3) Mr. Natwarlal Patel :- DIN 00027540
Mr. Natwarlal Meghjibhai Patel, 64 years, is the Managing Director of the Company. Mr. Natwarlal Patel holds a Masters of Science degree from Sardar Patel University, Gujarat. He currently oversees the technical matters of the Agrochemical divisions, as well as the International and Domestic marketing of the Agrochemical products. Mr. Natwarlal Patel, has more than 39 years experience in the Dyes and Pigments Industry, and more than 24 years experience in the Agrochemicals Industry. Mr. Natwarlal Patel is interested in the following companies and partnership firms.
Mr. Natwarlal Patel is the brother of Mr. Jayanti Patel and Mr. Ramesh Patel.
4) Gujarat State Export Corporation Limited Director
5) Meghmani Overseas FZE – Sharjah Director
6) Tapsheel Enterprises Partner
7) Navratna Specialty Chemicals LLP Partner
8) Uniworth Enterprises LLP Partner
MEGHMANI ORGANICS LIMITED
65
DIRECTORS' PROFILE
(4) Mr. Ramesh Patel :- DIN 00027637
Mr. Ramesh Meghjibhai Patel, 61 years, is the Executive Director of the Company. Mr. Ramesh Patel holds a Bachelor of Arts degree from Saurashtra University. Mr. Ramesh Patel has 32 years of experience in the Pigments Industry and 21 years of experience in the Agrochemicals Industry.
Mr. Ramesh Patel is currently in charge of overseeing purchases made by the Company (including Domestic purchases and Global imports) and is responsible for all liaisons between the Company and Government authorities or other regulatory bodies. Mr. Ramesh Patel is interested in the following companies and partnership firms.
Mr. Ramesh Patel is the brother of Mr. Jayanti Patel and Mr. Natwarlal Patel.
(5) Mr. Anand Patel :- DIN 00027836
Mr. Anand Ishwarbhai Patel, 54 years, is the Executive Director of the Company. Mr. Anand Patel holds a Bachelor of Science degree from the Gujarat University. Mr. Anand Patel has 30 years of experience in the Pigments Industry. Mr. Anand Patel currently oversees the manufacturing of Pigments at Vatva, Panoli and Dahej as well as the International & Domestic marketing of Pigments. Mr. Anand Patel is interested in the following companies and partnership firms.
Mr. Anand Patel is the Cousin of Mr. Jayanti Patel, Mr. Natwarlal Patel and Mr. Ramesh Patel.
(6) Mr. Chinubhai Shah :- DIN 00558310
Mr. Chinubhai Shah, 80 Years, was appointed as a Director of the Company on April 13, 2000 and has been on our Board since then. He holds a Masters degree in Arts and a Masters degree in Law. He also has a Diploma in Labor Practice and Diploma in Taxation Practice, both from Gujarat University. He is a Fellow member of the Institute of Company Secretaries of India and Fellow membership for life was also conferred on him by All India Management Association, New Delhi.
Mr. Chinubhai Shah was twice elected as the President of the Institute of Companies Secretaries of India. He was also elected as the President of All India Management Association. He was a visiting professor and a member of the Board of Governors of the Indian Institute of Management, Ahmedabad. He was the President of the Gujarat Chamber of Commerce and Industry and was also a member of the Company Law Advisory Committee in the Government of India. He was a member of the Secondary Market Advisory Committee of SEBI.
He has had more than 47 years experience in the areas of Management, Finance and Accounting. Mr. Chinubhai Shah headed Torrent Pharmaceuticals and Torrent Exports Limited as Executive Director from 1991 to 1998. From 1998 to 2000 he was the Managing Director of Ahmedabad Electricity Co. Limited (Presently Torrent Power Limited).
Mr. Chinubhai Shah is a member of Audit & Corporate Social Responsibility (CSR) Committee and Chairman of Remuneration Committee, Nominating Committee and Shareholders / Investors Grievances and Share Transfer Committee of the Company and is a director on the Board of the following other companies:-
Sr.No. Name of the firm/concern Position Held
1) Meghmani Industries Limited Director
2) Meghmani Chemicals Limited Director
3) Uniworth Enterprises LLP Partner
Sr.No. Name of the firm/concern Position Held
1) Meghmani Europe BVBA Director
2) Tapsheel Enterprises Partner
3) Meghmani Chemicals Partner
4) Novel Spent Acid Management Partner
SGX
MEGHMANI ORGANICS LIMITED
66
(7) Mr. Balkrishna Thakkar :- DIN 00430220
Mr. Balkrishna Thakkar, 70 years, was appointed as a Director of the Company on April 13, 2000. He holds a Bachelor of Commerce degree from Gujarat University and is also a Fellow member of the Institute of Chartered Accountants of India. Since 1974, after qualifying as Chartered Accountant, he started his own practice. He is currently practicing as a Chartered Accountant in the name and style of Balkrishna Thakkar & Co., a sole proprietorship that he founded in 1975, and his primary practice areas are audit and taxation.
Mr. Balkrishna Thakkar is the Chairman of Audit Committee and member of Remuneration Committee, Nomination, Shareholders / Investors Grievances and Share Transfer and & Corporate Social Responsibility (CSR) Committee of the Company.
(8) Mr. Jayaraman Vishwanathan :- DIN No. 00477796
Mr. Jayaraman Vishwanathan, 59 years, was appointed as a Director of the Company on July 17, 2003. He has more than 29 years of experience in industry, banking, private equity and entrepreneurial related assignments, both in India as well as in other countries. He was the Director and the Head of Direct Investments in Jardine Fleming India Securities Limited
(“JF Electra”) (Now Electra Partners Asia Limited “Electra Asia”) from December 1995 to July 1999 and has rejoined Electra Partners in February 7, 2005. He holds a Bachelor of Commerce (Honours) degree from the University of Delhi, India. He is also a qualified Chartered Accountant and also a Management Accountant from the Chartered Institute of Management Accountants, London, United Kingdom.
Mr. Vishwanathan has also worked on an assignment with an arm of the Government of Abu Dhabi to help set up a private equity operation for them in the UAE. The name of the organization was CERT (Centre of Excellence for Applied Research and Training), which is governed by UAE Ministry for Higher Education and Scientific Research. CERT is the largest investor in the MENA region (Middle East, North Africa).
(9) MR. CHANDER KUMAR SABHARWAL :- DIN No. 00368621
Mr. Chander Kumar Sabharwal 67 Years is BA Honors (Economics) and has studied Law & Management. He has worked as Senior Management Trainee (SMT Scheme) & Executive with DCM (Now Shriram Group) 1970-74, Part of founding group of HCL in 1975 and Managing Agrochemical Public Ltd Company – 1974 onwards. Mr. Chander Sabharwal has held various positions as under:-
• Director on the Board of Oriental Bank of Commerce, New Delhi – 2005-11
• Director on the Board of Crop Care Federation of India - 1985 – 2009
Sr. Name of the Company Director Member of Chairman of
No. Committee Committee
1) Apollo Hospitals International Ltd Director – –
3) Cadila Pharmaceuticals Limited Director – Audit
4) G.S.E.C Limited Director Audit –
5) Gulmahor Greens-Golf & Country Club Limited Director – –
6) India Renal Foundation Chairman – –
7) Nirma Limited Director – –
8) Saline Area Vitalisation Enterprise Limited Chairman – –
9) Shilp Gravuers Limited Director – Audit
10) Meghmani Finechem Limited Director Audit –
11) Human Wellness Foundation Director – –
DIRECTORS' PROFILE
MEGHMANI ORGANICS LIMITED
67 SGX
DIRECTORS' PROFILE
• Executive Member, All India Bio Technology Association of India (AIBA)
• Managing Director, Crop Health Products Ltd, New Delhi (1975 – till date),
• Partner, R K Associates, (Dusseldorf – US – India), M&A Advisors
Mr. Chander Sabharwal is successfully managing family business Crop Health Products Ltd – involved from multi sites in manufacturing & marketing of Agrochemicals in Punjab, Haryana, UP, J&K, HP, Rajasthan, Gujarat, MP, and Chhattisgarh & Orissa. The Public Ltd Company is 47 years, the peak turnover of which reached US$ 17 million. He is Associated with many International Companies such as Bayer, BASF, Monsanto, IFFCO, etc.
He is also on the Board of Crop Health Products Limited, Crop Health Products Chemicals Private Limited, ISK Biosciences India Private Limited, Petch Agri Biotech Private Limited and Caliber Farm Solutions Private Limited.
(10) Mr. K H Patel :- Din No. 02325787
Mr. K H Patel, 70 years, is a Bachelor of Science and Law degree from Gujarat University and also holds Diploma of Master of Labour Welfare (MLW).
Mr. Patel after completing his graduation served Textile Industries in Ahmedabad for 12 years out of which he served as Labour Welfare Officer for 7 (Seven) years in New Cotton Mills Limited, Ahmedabad. He started his own practice as an Advocate in 1980. His primary practice areas are Labour Law and Criminal Law (Management) side.
He is also on the Board of Rainbow Papers Limited and Sundek India Limited.
(11) Ms. Urvashi Shah :- DIN- 07007362
Ms. Urvashi Dhirubhai Shah, 60 years, holds Bachelor of Arts (BA) Degree with Economics and having First class First rank of Gujarat University. She has passed Intermediate Exam of the Institute of Chartered Accountants of India. She is an Advocate by profession and practicing with Income Tax appellate Tribunal since last 12 years. Ms. Urvashi Shah is on the Board of Brady & Morris Engineering Co Ltd. (Bombay) as Non Executive Independent Director.
««««
COMPLIANCE WITH CODE OF BUSINESS CONDUCT AND ETHICS
As provided under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Board Members and Senior
Management Personnel have confirmed compliance with the Code of Conduct for the year ended March 31, 2017.
For Meghmani Organics LimitedPlace: Ahmedabad Ashish Soparkar
ndDate: 22 May, 2017 Managing Director
AUDITORS’ CERTIFICATE ON CORPORATE GOVERNANCE
To The Members,
Meghmani Organics Limited
We have examined the compliance of conditions of Corporate Governance by Meghmani Organics Limited, for the year ended
on 31st March 2017, as stipulated in Chapter IV of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
pursuant to the Listing Agreement of the said Company with Stock Exchanges.
The Compliance of conditions of Corporate Governance is the responsibility of the Management. Our examination has been
limited to a review of the procedures and implementation thereof, adopted by the Company for ensuring the compliance of the
conditions of the Corporate Governance. It is neither an audit nor an expression of opinion on the financial statements of the
Company.
In our opinion and to the best of our information and according to the explanations given to us and based on the representations
made by the Directors and the Management, we certify that the Company has complied with the conditions of Corporate
Governance as stipulated in Chapter IV of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 pursuant
to the Listing Agreement of the said Company with Stock Exchanges.
We further state that such compliance is neither an assurance as to future viability of the Company nor of the efficiency or
effectiveness with which the management has conducted the affairs of the Company.
FOR M/S. KHANDWALA & KHANDWALA
Chartered Accountants
M M Khandwala
Partner
Place: Ahmedabad Membership Number 32472nd Date: 22 May, 2017 FRN No.107647W