Company’s Philosophy on Corporate Governance :
Pursuant to Clause 49 of the listing Agreement , norms and disclosure that have to be made on the Corporate Governance front are set out in the Annual Report of the Company. We confirm your Company’s Compliance with the Corporate Governance criteria as required under Clause 49 of the Listing Agreement.

The basic objective of corporate governance adopted by your Board is to ensure accountability and transparency in the functioning of the management, with emphasis on integrity and regularity in day to day functioning of your Company. Your Company espouses the cause of longterm success in all areas of its business and commits itself to achieve this by focusing on productivity, quality and performance. It continues to evolve learn and adapt for the common good of its stake holders.

It is believed by your Board that corporate governance must balance individual interests with corporate goals and operate within accepted norms of propriety, equity, fair play and a sense of justice.

As per Circular No. CIR/CFD/POLICY CELL/7/2014 dated September 15, 2014 of SEBI, the Clause 49 of the Listing Agreement is no more applicable to the Company.