Corporate Governance
 
 
Corporate Governance
 

Surya India Limited has maintained the higher standards of corporate governance principles and best practices by adopting the “Corporate Governance Policies and Code of Conduct”.

The Company is conscious of its responsibility as a good corporate citizen. The Company believes in transparency, professionalism and accountability, which are the basic principles of corporate governance and would constantly; endeavor to improve on these aspects. Corporate Governance aims to maximize long term stakeholder’s value.

The Board considers itself as a trustee of its shareholders and acknowledges it responsibilities to the shareholders for creation and safeguarding Shareholder’s Wealth. During the year under review, the Board continued its pursuit of achieving these objectives through the adoption and monitoring of corporate strategies, prudent business plans, monitoring of major risks of the Company’s business and ensuring that the Company pursues policies and procedures to satisfy its legal and ethical responsibilities.

These Policies and Code prescribe a set of systems, processes and principles conforming to the international standards and are reviewed periodically to ensure their continuing relevance, effectiveness and responsiveness to the needs of investors and all other stakeholders.

The Company believes that all its operations and actions must serve the underlying goal of enhancing long-term shareholder value. In our commitment to practice sound governance principles, we are guided by the following core principles:

  • Transparency
    To maintain the highest standards of transparency in all aspects of our interactions and dealings.

  • Disclosures
    To undertake timely dissemination of all price sensitive information and matters of interest to our stakeholders.

  • Empowerment and Accountability
    To demonstrate the highest levels of personal accountability and to ensure that employees consistently pursue excellence in everything they do.

  • Compliances
    To comply with all the laws and regulations applicable to the company.

  • Disclosures
    To conduct the affairs of the company in an ethical manner.

  • Stakeholders’ interests
    To promote the interests of all stakeholders including customers, shareholders, employees, lenders, vendors and the community.

Our governance practices go beyond the mere letter of statutory and regulatory requirements. With this in mind, we have formulated a number of policy documents and introduced the following set of governance practices:

  1. Values and Commitments
    We have set out and adopted a policy document on the ‘values and commitments’ of Surya India Ltd.

  2. Code of ethics
    Our ‘code of ethics’ demands that our employees conduct the business with impeccable integrity and by excluding any consideration of personal profit or advantage.

  3. Business Policies
    We have clear internal norms in place on a wide range of issues from fair market practices and insider information to financial and accounting integrity, from external communication and personal conduct to work ethics.

  4. Prohibition of insider trading policy
    We have set out and adopted a proper policy on the ‘prohibition of insider trading’.

  5. Prevention of sexual harassment
    Our policy on prevention of sexual harassment aims at promoting a productive work environment and protecting the individual from sexual harassment.

  6. Risk management
    The company manages risks as an integral part of its decision making process. The Audit Committee and the Board of Directors are regularly apprised regarding key risk assessment and risk mitigation mechanisms.
    Our risk mitigation procedures ensure that the management is able to control risk through a properly defined framework.

  7. Whistle blower policy
    Our whistle blower policy encourages disclosure in good faith of any wrongful conduct on a matter of general concern and protects the whistle blower from any adverse personnel action.

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