The Company has in place adequate internal financial controls with reference to financial reporting in compliance with the provisions of Section 134 (3) (c) of the Companies Act, 2013 for ensuring orderly and efficient conduct of its business, including adherence to the Companies policies, safeguarding of its assets, prevention of frauds, accuracy of accounting records and timely preparation of reliable financial disclosures.
The vigilance function with the Hindustan Steelworks Construction Limited., is an integral part of the Management. It is the nodal section for handling all vigilance matters of the HSCL. It is believed that with the best practices, adequate controls and transparency in place, decisions will be taken in a professional, efficient and effective manner and same would be consistent, leading to good governance and corporate excellence.
Since 2010, there exists a Whistle Blower Policy to provide adequate safeguards against victimization of employees and directors who avail vigil mechanism and make provision for direct access to the Chairman of the Audit Committee. This policy was formulated in compliance of DPE guidelines on Corporate Governance.
The Board on 08.07.2015 adopted “Vigil Mechanism Policy” as per provisions of Section 177 of the Companies Act, 2013 in place of “Whistle Blower Policy” with immediate effect which also fulfills requirement of DPE guidelines on Corporate Governance.
A vigil mechanism for directors and employees to report genuine concerns about unethical behaviour,actual fraud or violation to the Company’s Code of conduct has been established which includes the duly adopted Whistle Blower Policy, uploaded on the Company’s website at the link Whistle Blower Policy
Best View in Google Chrome 44.0, Mozilla Firefox 34.0 or above and MS Edge Designed and Developed By: NBCC IT DIVISION