CORPORATE
GOVERNANCE
ANNEXURE
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Corporate
Governance is a process
that aims to meet shareholders aspirations and societal expectations.
It is a
commitment that is backed by the fundamental belief of maximizing
shareholders
value, transparency in functioning, values and mutual trust amongst all
the
constituents of organisation. Corporate Governance is a culture that
guides the
Board, management and employees to function towards the best interest
of
shareholders. It involves essentially a creative, generative and
positive
thinking activity that adds value to the various stakeholders that are
served
as end customers of the corporate entity.
ECL is
committed to achieving highest level of transparency, openness and
accountability and fairness in all areas of operation, meeting the
aspirations
of all its stakeholders with primary objective of enhancing
shareholders value,
timely and balanced disclosure of all material information to all the
stakeholders and protection of their interest. The Company has put
in place a sound
system of internal control to mitigate the risks and comply with the
laws of
land, rules & regulations in true letter and spirit with a view to
provide
oversight and guidance to management in strategy implementation.
In our Company,
Corporate Governance
philosophy stems from our belief that corporate governance is a key
element in
improving efficiency and growth as well as enhancing investor
confidence and
accordingly the Corporate Governance philosophy has been scripted as
under:
“As a good corporate
citizen, the
Company is committed to sound corporate practices, based on conscience,
openness, fairness, professionalism and accountability in building
confidence
of its various stakeholders in it thereby paving the way for its long
term
success.”
A report on Corporate
Governance of
your company is placed at ANNEXURE-VI
and a certification from Auditors regarding compliance of conditions of
Corporate Governance by your company for the year ended 31st
March
2019 is also placed at ANNEXURE-VII to
this report.
The annual return of the
company for financial year 2018-19 pursuant to
Section 92 of the Companies Act, 2013 is available on our
website-www.easterncoal.gov.in.(ANNEXURE-VIII)
