Philosophy

Over the years, the company’s philosophy is to adopt such policies and practices which are best in the interest of all the persons who are touched by it. The Corporate Governance are the set of guidelines to be followed by the Corporate world which requires commitment and not just compliance of ethical business governance.

Company acknowledges and respects its fiduciary relationship and responsibility towards it’s stakeholders and strives hard

• to protect their interests

• to enhance their trust and confidence

• to meet their expectations;

• to improve public understanding of activities and policies of the organization

• to achieving the balance between stakeholders’ interests and corporate goals by adopting such systems and procedures as are recognized as best corporate practices through which good corporate governance principles are articulated and implemented to meet all the relevant critical legal and regulatory requirements.

It has formed an active, well-informed Board with majority of independent directors to uphold Company’s commitment to follow high standards of ethical values and business integrity. It assists them in efficient conduct of business and in meeting their obligations towards stakeholders with special emphasis on transparency, accountability, performance and timely & accurate disclosures of information about the Company. During the year 2004-2005, the Company has kept its commitment towards the norms and disclosures that have to be made on corporate governance under the listing agreement with the Stock Exchanges on which shares of the Company are listed.