In our strive to achieve excellence we implemented the concepts of Corporate Governance in true sprits and today it is an integral part of our management. Efficient Corporate Governance requires a clear understanding of the respective roles of the Board and of senior management and their relationship with others in the Corporate Structure. Corporate Governance envisages the attainment of transparency, accountability and integrity in all facets of its operations and interactions with shareholders, employees, banks and Government so as to ensure that there is fairness to all stakeholders and that its action benefit the greater number of shareholders.
The Board of Directors has the important role of overseeing management’s performance on behalf of the stakeholders.
Except the Chairman all other Directors on the Board are Independent Directors with rich experience and expertise in the areas of management, banking, finance, administration and law.
Code of Conduct
The Board of Directors has approved and adopted a Code of Conduct for the members of the Board and Senior management of the Company. This code helps to maintain the standards of business conduct for Winsome Diamonds And Jewellery Limited and ensures compliance with legal requirements, particularly the requirements under clause 49 of the Listing Agreement with Stock Exchange(s).
To ensure a transparent and fair administration, the Company is having a Governance Structure that provides for checks and balances throughout its operations.
The Audit Committee is headed by an Independent Director and supported by professional Internal Auditors, interalia, provides re assurance to the Board on the effective internal control and compliance environment that ensures:
- Efficiency and effectiveness of operations both domestic and overseas.
- Reliability of financial and management information and adequacy of disclosures.
- Safeguarding of assets.
- Compliance with relevant statutes.
Shareholders’/Investors’ Grievance Committee
The Shareholders’/Investors’ Grievance Committee functions with the objective of looking into redressal of Shareholders’ and Investors’ grievances relating to non receipt of dividend, Annual Report, transfer of shares etc. The Company has taken all steps to ensure that shareholders’ grievances are given high priority and are resolved at the earliest.
Internal Control System
The Company has adequate internal control procedure commensurate with its size and nature of the business. The internal control system is supplemented by extensive internal audits, regular reviews by management and well-documented policies and guidelines to ensure reliability of financial and all other records to prepare financial statements and other data. Moreover, the Company continuously upgrades these systems in line with best accounting practices. The Company has independent audit systems to monitor the entire operations and the Audit Committee of the Board review the findings and recommendations of the internal auditors.
Prevention of Insider Trading
The Board of Directors of the Company has adopted a code of conduct of Winsome Diamonds And Jewellery Limited in accordance with SEBI (Prohibition of Insider Trading Regulations, 2015) for prevention of insider trading in the shares of the Company.