Implementation deadlines of Code of Corporate Governance 2012

Clause
Reference
i (b)

Brief Description

Effective Date

One independent director

i (d)

Number of executive directors

ii

Maximum number of directorships to be

held by a director
Filling up a casual vacancy

At the time of next election of

directors
At the time of next election of
directors
At the time of next election of
directors
Immediate

iii
iv & v except
v(e)
v (e)

Responsibilities, powers and functions of

board of directors
Annual evaluation of the boards own
performance
Separation of CEO and Chairman and
election of Chairman from non-executive
directors
Meetings of the board

Immediate

Immediate

Significant issues to be placed for

decision of Board of Directors
Related party transactions

xi

Directors Training Program

xii

Appointment and removal of Chief

Financial Officer ,Company Secretary
and Head of Internal Audit
Qualifications of CFO and Head of
Internal Audit

Minimum one director to obtain

certification each year from June
30, 2012. All directors to be
compliant by June 30, 2016.
Immediate

vi

vii & viii

ix

xiii & xiv

xv

Requirement to attend board meetings

xvi

Directors Report

xvii

Directors remuneration

Xviii, xix & xx

Frequency of financial reporting

April ,2014
At the time of next election of
directors
Immediate

Immediate

Immediate. Report compliance

in Annual Report for accounting
period ending on or after June,
2012
Immediate
Annual Report for accounting
period ending on or after June,
2012
Immediate
For accounting period ending on
or after June 30, 2012

Clause
Reference
xxi & xxii
xxiii
xxiv
xxv
xxvi

xxvii, xxviii,
xxix, xxx
xxxi & xxxii

Brief Description

Effective Date

Responsibility for financial reporting

and corporate compliance
Disclosure of interest by a director
holding companys shares
Composition of Audit Committee

For accounting period ending on

or after June 30, 2012
Immediate

Composition of Human Resource and

Remuneration Committee
Disclosure of Names of Members of
Committees
Frequency of meetings, attendance,
terms of reference and reporting
procedures of Audit Committee
Internal audit

At the time of next election of

directors
Immediate
Annual Report for accounting
period ending on or after June
30, 2012
Immediate

Immediate

xxxiii, xxxiv,
xxxv, xxxvi,
xxxvii & xxxviii
xxxix

Appointment of External Auditors

When next appointment is due

Management Letter by External Auditor

xl & xli

Compliance with Code of Corporate

Governance

For accounting period ending on

or after June 30, 2012
Annual report for accounting
period ending on or after June,
2012