The decisions making process in the Company involves the following Channel:





Overall management of the Company rests with the Board of Directors of the Company, the highest decision making body within the Company. The Board of Directors is accountable to the shareholders of the Company, who are real owners of a Company. RINL being a Public Sector undertaking and fully owned by Govt. of India, the Board of Directors of the Company are accountable to Government of India. As per the provisions of the Companies Act, 1956 certain matters require the approval of the shareholders of the Company in general meeting. require the approval of the President of India. The primary role of the Board is that of trusteeship to protect and enhance shareholder’s value. The Board overseas the Company’s strategic direction, reviews corporate performance, authorizes and monitors strategic decisions, ensures regulatory compliance and safeguards interests of shareholders. The Board ensures that the Company is managed in a manner that fulfils stakeholders aspirations and societal expectations. Similarly, in terms of the Articles of Association of the Company and guidelines of Department of Public Enterprises, certain matters

the apex decision-making committee is the Committee of Management (COM) consisting of Chairman-cum-Managing Director and other Functional Directors. the proposal is examined and concurred by finance executives and approved by competent authority as per DOP. the proposals requiring decisions are initiated at the appropriate level of the executives. which includes necessary flexibility in the processes so as to cut short the cycle time. Given the dynamic nature of the environment. proposing level. committee approach is followed to clear the file instead of routing it through 3 or 4 departments. The Chairman-cum. some time high-powered committees are constituted to take decision on some important matters. and vetted by next higher authorities (generally Addl. With a view of minimizing the cycle time for decision-making. Besides this. efforts aremade to clear the file through a minimum levels of3 to 4 i. it is imperative to have speedier decision-making processes to enable the company to quickly respond and siege the business opportunity at right time. The Board of Directors has also set up several Committees like Committee of Management (COM). the Board of Directors has delegated substantial powers to the Chairman-cum-Managing Director.) and approval of CMD for placing the proposal before the Board for their consideration and decision. In respect of the proposals which are not within the scope of the powers of CMD. While the company has well laid out processes of decision-making. Generally. concurrence of Director (Fin. For effective discharge of his functions. are examples of such decision-making processes. Directors are accountable to the Chairman-cum-Managing Director. simpler and qualitative. effective and efficient discharge of responsibilities entrusted to such a Director/Officer. .e.Managing Director who is supported by Functional Directors and other Officers and staff of the Company. In some case where there is need for consultation with 2 to 3 departments.Managing Director. vetting level. the proposals are initiated by front line executives (up to the level of Manager/Deputy Chief Manger). In nutshell continuous efforts are being made to make the processes of decisionmaking quicker. financial implication. administrative exigencies etc. Wherever concurrence of finance is required. depending upon the type of decision. The Chairman-cum-Managing Director is accountable to the Board of Directors. in turn delegated specified powers to Functional Directors/Officers subject to due control being retained by him and subject to such conditions which are consistent with the need of prompt. accountable to concerned Functional Directors. Committee for Award of Contracts relating to Project Expansion Proposals (CACEP) and Audit Committee. High Power Steering Committee (HPSC). concurrence level & approving level.Chief Manager/Dy. Board Notes are processed for clearance of concerned Functional Director. Purchase Committee etc.The day-to-day management of the Company is entrusted with the Chairman-cum.General Manager). Committee for Award of Contracts (CAC). Within the organisation. Functional The Officers are Rashtriya Ispat Nigam Limited (Visakhapatnam Steel Plant) is a business organisation operating in highly competitive business environment in domestic as well as international steel markets. Normally.

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