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Corporate Governance
111
CORPORATE OVERVIEW (1-31)
STATUTORY REPORTS
FINANCIALS (123-204)
Audit Qualifications:
During the year under review, there
was no audit qualification in the Auditors’ Report on the
Company’s financial statements. The Company continues to
adopt best practices to ensure a regime of unqualified financial
statements.
Training of Board Members:
The Directors interact with the
management in a very free and open manner on information
that may be required by them. Orientation and factory visits
are arranged for new Directors. The Independent Directors
are encouraged to attend training programmes that may be
of relevance and interest to the Directors in discharging their
responsibilities to the Company’s stakeholders.
Mechanism for evaluating non-executive Boardmembers:
The performance evaluation of non-executive members is
done by the Board annually based on criteria of attendance
and contributions at Board/Committee Meetings as also for
the role played other than at Meetings.
Whistle Blower Mechanism:
The Company has adopted a
Whistle-Blower Policy. Please refer to ‘DISCLOSURES’ given above.
MEANS OF COMMUNICATION
The Quarterly, Half Yearly and Annual Results are regularly
submitted to the Stock Exchanges in accordance with the
Listing Agreement and are generally published in Indian
Express, Financial Express and Loksatta (Marathi). The information
regarding the performance of the Company is shared with
the shareholders every six months through a half yearly
communiqué and the Annual Report. The official news releases,
including on the quarterly and annual results and presentations
made to institutional investors and analysts are also posted on
the Company’s website
www.tatamotors.com
.
The ‘Investors’ section on the Company’s website keeps the
investors updated on material developments in the Company
by providing key and timely information like Financial Results,
Annual Reports, Shareholding Pattern, presentations made to
Analysts etc. A brief profile of Directors is also on the Company‘s
website. Members also have the facility of raising their queries/
complaints on share related matters through a facility provided
on the Company’s website.
The Annual Report, Quarterly Results, Shareholding Pattern of
the Company are posted through Corporate Filing and
Dissemination System (CFDS), a portal to view information
filed by listed companies. Also, Corporate Governance Report
and Shareholding Pattern of the Company are filed with
National Stock Exchange of India Limited through
NSE Electronic Application Processing System (NEAPS). Hard
copies of the said disclosures and correspondence are also
filed with the Stock Exchanges.
Green Initiative:
In support of the “Green Initiative” undertaken by Ministry of
Corporate Affairs, the Company had during the year
2010-11 sent various communications including the Annual
Report, intimation of dividend, Shareholders’ Satisfaction
Survey Form and Half Yearly Communiqué by email to those
shareholders whose email addresses were made available to
the depositories or the Registrar and Transfer Agents. Physical
copies were sent to only those shareholders whose email
addresses were not available and for the bounced email cases.
However, in view of the recently amended Listing Agreement
with the Stock exchanges, companies can send soft
copies of the Annual Reports to all those shareholders who
have registered their email address for the said purpose.
However, the Company has not made much progress as
not many shareholders have opted for this mode of
communication.
As a responsible citizen, your Company strongly urges
you to support the Green Initiative by giving positive
consent by registering/updating your email addresses
with the Depositories Participants or the Registrar and
Transfer Agents for receiving soft copies of various
communications including the Annual Reports.
GENERAL INFORMATIONFORMEMBERS
The Company is registered with the Registrar of Companies,
Mumbai, Maharashtra. The Corporate Identity Number (CIN)
allotted to the Company by the Ministry of Corporate Affairs
(MCA) is L28920MH1945PLC004520.
FINANCIAL HIGHLIGHTS (32-45)