CORPORATE GOVERNANCE



Board Composition

The composition of the Board of Directors of KSL is governed by the Companies Act, 1956 and the listing requirements of the stock exchanges where securities issued by KSL are listed. The Board has an optimum combination of executive and non executive Directors. As on Mar 2014, the Board comprises of six Directors, out of which four are Non-Executive Directors. The Managing Director is responsible for the conduct of the business and day to day affairs of the Company. The board consists of eminent persons with considerable professional expertise and experience in banking, management consulting, financial services and similar fields.
Shri Paresh Khandwala - Managing Director
Shri Rohit Chand - Non Executive, Independent Director
Shri Kalpen Shukla - Non Executive, Independent Director
Shri Pranav Khandwala - Non Executive Director
Shri Homiar N. Vakil - Non Executive, Independent Director
Smt. Bhagyashree Khandwala - Executive Director / CFO
No Directors on the Company's Board is a member of more than ten
committees and Chairman of more than five
committees across all the Companies in which he is a Director.
 All the Directors have made necessary disclosures regarding committee positions held by them in other companies. Also none of the Directors on board hold the office of Director in more than 15 Public limited companies.

Board Committees :-

Khandwala Securities Limited is a Company managed by Board and the Board meets at regular intervals to consider accounts, review of operations, formulate corporate policies and set up goals. The Board has constituted following committees: The board consists of eminent persons with considerable professional expertise and experience in banking, management consulting, financial services and similar fields.

Audit Committees :-

The essential functions of the Audit Committee include review of systems and procedures, overseeing the functioning of internal audit, the effectiveness of controls, reporting processes and regulatory compliance. The Composition of Audit Committee of the Company are as follows:-

Stakeholders Relationship Committees :-

The Committee handles matters relating to transfers/transmissions of shares and monitors redressal of complaints from shareholders relating to transfers, non-receipt of balance sheet, non-receipt of dividends declared, etc. The Composition of Stakeholders Relationship Committee of the Company are as follows:-

Mr. Homiar N. Vakil Chairman Independent Director
Mr. Rohitasava Chand Member Independent Director
Mr. Pranav Khandwala Member Non-Executive Director
Mr. Homiar N. Vakil Chairman Independent Director
Mr. Rohitasava Chand Member Independent Director
Mr. Pranav Khandwala Member Managing Director

Nomination & Remuneration Committee :-

Governance Standards

KSL is committed to maintaining highest levels of ethical standards, professional integrity, regulatory compliance and corporate governance. Corporate Governance is a synonym for sound management, transparency and disclosure, encompassing good corporate practices, procedures, standards and implicit rules which propel a Company to take sound decisions, thus maximizing long-term shareholders value. Corporate governance has always been an integral part of KSL's philosophy. Corporate Governance is beyond the realm of law. We believe that it stems from the managements mindset and cannot be regulated by legislation alone. KSL had adopted Corporate Governance and disclosure practices even before these were mandated legislations. Corporate Governance rules for Indian companies are laid down in Clause 49 of the Listing Agreement of Indian Stock Exchanges, as amended from time to time by the Securities and Exchange Board of India (SEBI)