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In India, 'Corporate Governance'
standards for listed companies are stipulated by Securities and
Exchange Board of India ( SEBI) through a special provision- Clause
49 of the Listing Agreement.
As a conscious and vigilant organization, Maruti Suzuki had initiated
good 'Corporate Governance' practices even before Clause 49 became
applicable and these practices form an integral part of the company¿s
governance culture.
The Company strives to foster a corporate culture in which high
standards of ethical behavior, individual accountability and transparent
disclosure are ingrained in all its business dealings and shared
by its Board of Directors, Management and Employees.
The Company has established systems & procedures to ensure that
its Board of Directors is well-informed and well-equipped to fulfill
its overall responsibilities and to provide the management strategic
direction it needs to create long-term shareholder value.
On its Board, the Company has four non-Executive- Independent Directors
of high stature from varied backgrounds, who bring with them rich
experience and high ethical standards.
In recent years, the Company has evolved a Control Self Assessment
mechanism to evaluate the effectiveness of internal controls over
financial reporting.
Key internal controls over financial reporting were identified and
put to self assessment by control owners in the form of Self Assessment
Questionnaires through a web based online tool called "Control Managers"
.
With the successful implementation of the online Controls Self Assessment
framework, the Company has become one of the few companies in India
to have a transparent framework for evaluating the effectiveness
of internal controls over financial reporting. The initiative further
reinforces the commitment of the Company to adopt best corporate
governance practices |
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| Year |
Corporate Governance
Compliance Report |
Reports |
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| 2011-
2012 |
3rd
Quarter - Corporate Governance Compliance
report as on 31st December, 2011
[57.6 KB] |
view pdf |
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2nd
Quarter - Corporate Governance Compliance
report as on 30th September, 2011
[57.9 KB] |
view pdf |
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1st
Quarter - Corporate Governance Compliance
report as on 30th June, 2011
[58.0 KB] |
view pdf |
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| 2010-
2011 |
4th Quarter - Corporate
Governance Compliance report as on 31st March, 2011
[62.6 KB] |
view pdf |
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