| The importance
of Corporate Governance has always been
recognised in ACC. Much before Corporate
Governance guidelines became applicable
and mandatory for listed companies, ACC
had systems in place for effective strategic
planning and processes, risk management,
human resources development and succession
planning. The Audit Committee in ACC was
constituted as far back as in 1986. The
Shareholders-Investors Grievance Committee
was formed way back in 1962 and the Compensation
Committee was convened since 1993. The
Company’s core values are based
on integrity, respect for the law and
strict compliance thereof, emphasis on
product quality and a caring spirit. Corporate
Governance therefore in ACC is a way of
life.
ACC is a professionally
managed Company with a majority of its
Directors being Independent Directors.
The Board of Directors has always consisted
of persons who are professionals in their
respective fields and with unquestionable
integrity and reputation. The role, responsibility
and accountability of the Board of Directors
is clearly defined. Members of the Board
have full freedom to express their views
on matters placed before them for deliberation
and consideration.
It is the continuous
endeavour of the Board of Directors to
achieve the highest standards of Corporate
Governance through the adoption of a strategic
planning process, succession planning
for attracting, motivating and energizing
human resources, identification of major
risks and the way and means to manage
such risks, an effective communication
policy and integrity of Company’s
internal control systems. The Board of
Directors are also constantly looking
at ways and means to ensure that the most
effective use is made of the scarce resources
at its disposal and that the management
and employees have the freedom to take
the Company forward within the framework
of effective accountability.
The Annual Reports, press
releases and other communication have
always made full disclosures on various
facets of importance to the stakeholders,
particularly with regard to information
relating to financial matters, company’s
operations/performance, stock movements
etc.
As
part of our pledge to support the effort
to help reduce the carbon footprint of
our Country, we have circulated an appeal
to our shareholders by agreeing to receive
documents such as Annual Reports and other
related details like Notices of General
Meetings, Postal Ballot Notices, Intimation
of ECS credits by electronic mail instead
of by physical copy. The Ministry of Corporate
Affairs has in its Green Initiative, permitted
compliances by Companies by sending documents
by e-mail. In recognition of shareholders’
consent we receive in support to this
Green Initiative, we have indicated to
them our intention to contribute a sum
of 100/- for each such shareholder consent
to a deserving organization that works
for the cause of education for physically
challenged persons or in the treatment
of the critically ill.
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