COMPANY'S PHILOSOPHY ON CORPORATE GOVERNANCE
IndiaCo Ventures Limited remains focused on pursuing a business model that optimizes long term stakeholder value. Appropriate and timely disclosures, transparency in business dealings and high levels of integrity in decision making are inherent to the Company in this pursuit. IndiaCo Ventures Limited is a professionally run Company. It is driven by strong Board oversight and sound corporate governance practices. As the Company grows, it continues to focus on raising the standards of corporate governance and adopting global “best in class” systems and procedures. The Company has adopted best practices for corporate governance, disclosure standards and enhancing shareholder value while protecting the interests of other stakeholders, clients, and its employees.
Your Company believes good governance is an essential ingredient of good business. Your Company recognizes that good Corporate Governance is a continuing exercise and reiterates its commitment to pursue the highest standards of Corporate Governance as shareholders across globe evince keen interest in its practices and performance. Your Company strives to adopt the highest standards of excellence in corporate governance with the aim of ensuring transparency in all dealings and in the functioning of the management and the Board of Directors. Your Company believes corporate governance to be an essential tool towards fostering and maintaining various stakeholders' confidence and maximization of their long term values. The cardinal principles such as participatory decision making, accountability, responsiveness, transparency, credibility, effectiveness and efficiency serve as the means for implementing the
philosophy of corporate governance in letter and spirit.
IndiaCo Corporate Governance philosophy vindicates that we attain our performance heights with integrity. Our Board exercises its fiduciary responsibilities in the widest sense of the term. Our fair and timely disclosures always seek to attain the best practices in corporate governance. We also endeavor to enhance long- term shareholder value and respect minority rights in all our business decisions.
IndiaCo Code of Conduct for its Board of Directors and senior management personnel is adhered to by all concerned persons to safeguard inherent risks associated with the Company's business and to help fulfill the corporate responsibility to various stakeholders. The Board continuously endeavors to improve upon these aspects on ongoing basis.
In India, corporate governance standards for listed companies are regulated by the Securities and Exchange Board of India (SEBI) through Clause 49 of the Listing Agreement of the Stock Exchanges. SEBI, through circulars dated October 29, 2004 and March 29, 2005, had revised Clause 49 and mandated listed companies to comply with the revised Clause 49 by December 31, 2005. As a Company, which believes in implementing corporate governance practices that go beyond meeting the letter of law, IndiaCo Ventures Limited has comprehensively adopted practices mandated in the new clause 49 and more specifically which are applicable to it.