COMPANY`S PHILOSOPHY:

Global Fin Corp is committed to practice good Corporate Governance standards contained in the RBI instructions on Corporate Governance and Clause 49 of Listing Agreement. The prime objective is optimization of shareholder value by ensuring effective and cordial relationship with stakeholders and protecting their interests. The Company believes that its business plans and strategy should be consistent with the above objective and thereby leading to sustained corporate growth and long-term benefit to all. The principles of Corporate Governance Standards of the company places strong emphasis on transparency, accountability and integrity. The company follows these principles in all its business decisions and dealings.

BOARD OF DIRECTORS:

The Board of Global Fin Corp comprises 12 directors drawn from various fields having considerable expertise in their respective areas. The board fulfills the requirements laid down in clause 49 of the listing agreement with respect to its composition and functioning. Meeting of Audit Committee:
The Committee meets 6 times a year. The committee regularly invites such executives as it considers appropriate including the head of finance, head of internal audit and the representative of the statutory auditors to be present at the meetings of the committee.

Nomination, Compensation and Corporate Governance Committee:

The above committee was constituted to oversee the appointment of directors to ensure that only fit and proper persons are appointed as directors. The company`s policies on specific remuneration packages to executive directors including pension rights will also come under the jurisdiction of the committee. Besides, the committee has to ensure that the company follows good corporate governance standards in all its business and other activities.

Risk Management Committee

An independent Risk Management Committee consisting mainly non-executive Directors has been constituted for the Company under the Chairmanship of Shri P. Manomohanan, an independent director . The Committee is involved in the process of identification, measurement, monitoring and mitigation of the various risks faced by the Company. The Committee meets periodically and reports to the top Management and Board.

Share Holders Grievance Committee

The company has constituted a Shareholders Grievance committee under the chairmanship of Adv. V R Ramachandran, an independent director to monitor the investor complaints/grievances and also to ensure quick redressal of investor complaints associated with transfer/ ransmission / dematerialisation of shares, non receipt of Balance Sheet, Dividend warrants etc.

Disclosure and Transparency:

The following information is put up to the Board at quarterly intervals:-

A. Progress made in putting in place a risk management system, risk management policy and strategy following by the Company.
B. Conformity with the corporate governance standards namely, composition of various committees, their rules and functions, periodicity of meetings, and compliance with coverage and review functions.

Connected Lending:

In order to obviate conflict of interest in the lending operations of the Company, there is virtual prohibition of grant of any loan or advance or non fund based facility to any of the Directors, their relatives, the concerns in which they are interest as Directors, partners, managers, employees or guarantors or the entities in which they hold substantial interest. A quarterly statement in this regard is being regularly submitted to RBI in the prescribed format.

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