Quarterly Compliance Report on Corporate Governance under Clause 49 of the Listing Agreement

 

Name of the Company   :   VELAN HOTELS LIMITED

Quarter ending on          :   30-09-2013

 

Particulars

Clause of

Listing

Agreement

 

Compliance

Status

Yes/No

 

Remarks

 

 

 

 

 

I Board of Directors

49 I

Yes

 

(A) Composition of Board

49(IA)

Yes

 

(B) Non-executive Directorsí Compensation & Disclosures

49 (IB)

Yes

 

(C) Other Provisions as to Board and Committees

49 (IC)

Yes

 

D) Code of Conduct

(49 (ID)

Yes

 

II. Audit Committee

49 (II)

Yes

 

(A)Qualified & Independent Audit Committee

49 (IIA)

Yes

 

(B)Meeting of Audit Committee

49 (IIB)

Yes

 

(C)Powers of Audit Committee

49 (IIC)

Yes

 

(D)Role of Audit Committee

49 II(D)

Yes

 

(E)Review of Information by Audit Committee

49 (IIE)

Yes

 

III. Subsidiary Companies

49 (III)

N.A.

 

IV. Disclosures

49 (IV)

Yes

 

(A) Basis of Related Party Transactions

49 (IV A)

N.A.

 

(B) Disclosure of Accounting Treatment

49 (IV B)

Yes

 

(C) Board Disclosures

49 (IV C)

Yes

 

(D) Proceeds from Public Issues, Rights Issues, Preferential Issues etc.

49 (IV D)

N.A.

 

(E) Remuneration of Directors

49 (IV E)

 

Reported in the 23nd   Annual Report

(F) Management

49 (IV F)

 

Reported in the 23nd   Annual Report

(G) Shareholders

49 (IV G)

 

Reported in the 23nd   Annual Report

V.CEO/CFO Certification

 

 

Reported in the 23nd   Annual Report

VI. Report on Corporate Governance

49 (VI)

 

Reported in the 23nd   Annual Report

VII. Compliance

49 (VII)

 

Reported in the 23nd   Annual Report