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Corporate Governance The analysis of corporate governance report is done for 4 companies namely Claris, Cipla, ICICI Prudential

and Tata Steel. The analysis is based on certain factors. The analysis is shown below. Corporate Governance Philosophy Difference Claris Its Cipla ICICI Tata Steel corporate The Company

philosophy The philosophy Th in is small

believes timely disclosures, transparent accounting policies.

and governance The philosophy encompasses the not

emphasizes the need for full

simple. Company respects rights of


only and

its regulatory and accountability in legal requirements all its transactions, in


but also several order to protect voluntary the interests of

practices aimed its at a high level stakeholders. of business

ethics, effective supervision.

The difference in the Tata philosophy can be seen as it focuses on interest of stakeholders; it considers a macro view where as Ciplas philosophy is quite specific limited to shareholders. Similarity To maximize To maximize To The Board itself

the long term the long value of

enhancement of considers

the term value to value for

as a Trustee of all its Shareholders and acknowledges its responsibilities towards them for creation safeguarding their wealth. and

Shareholders of the the Company.

shareholders of stakeholders the Company

WHISTLE BLOWER POLICY The Company has a Whistle Blower Policy which serves as a channel of communication to employees, who know or have genuine suspicion of breaches to the Code of Conduct, any legal violation in relation to work related issues or non adherence to accounting policies & procedures adopted

to present true and fair view of the operations & financial position of the company.

Claris Cipla ICICI No such policy No such policy ICICI mentioned in the mentioned in the adopted report. report. policy.

Tata Steel has ICICI this adopted policy.

has this

Code of Conduct In accordance with the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations,1992, as amended(the Regulations), the company have to adopt the Code of Conduct for Prevention of Insider Trading and the Code of Corporate Disclosure Practices (the Code) to be followed by Directors, Officers and other Employees. The Code is based on the principle that Directors, Officers and Employees of a Company owe a fiduciary duty to, among others, the shareholders of the Company to place the interest of the shareholders above their own and conduct their personal securities transactions in a manner that does not create any conflict of interest situation. The Code also seeks to ensure timely and adequate disclosure of Price Sensitive Information to the investor community by the Company to enable them to take informed investment decisions with regard to the Companys securities.

Claris Company adopted policy.

Cipla has Company such adopted policy.

ICICI has Company such adopted policy.

Tata Steel has Company such adopted

has such

policy. The thing which Tata distinctive other companies Ethics Compliance Committee. committee constituted by The makes Steel from 3 is and

Tata to review the prevention insider trading of

Safety, Health and Environment Committee The Safety, Health and Environment Committee oversee the policies and their implementation across.

Claris No committee.

Cipla such No committee.

ICICI such No But committee.

Tata Steel such Safety, Health and Environment Committee formed is

the company has kept up high

standards of occupational

health, safety and environment preservation practices at all its manufacturing units. Various

health, safety and environment awareness programmes were organized

Means of communication The ways of communicating with the public differs from company to company. Claris The Cipla quarterly, The ICICI half- Nothing mentioned. Tata Steel is The quarterly and annual along results with the


and yearly/quarterly

yearly unaudited/ results would be audited financial published in the results will be newspapers published, but (Mumbai

Segmental Report are generally

published in The Indian Financial the Express, Nav Express,

where it would edition). Certain publish is not specifications regarding


newpaper is also given report. results in the The are

Shakti, Free Press Journal and also displayed on the website Company shortly after its submission to the Stock Exchanges of the

usually published in the following newspapers: i. The Economic Times

ii. Navbharat Times iii. The Financial Express iv. Standard v. The Hindu Business

Business Line vi. Sakaal vii. Mint