Amal Ltd 2016-17

Amal Ltd | Annual Report 2016-17 v) The Securities and Exchange Board of India (Registrars to an Issue and Share Transfer Agents) Regulations, 1993; b) Provisions of the following Regulations and Guidelines prescribed under the Securities and Exchange Board of India Act, 1992 (‘SEBI Act’) were not applicable to the Company under the financial year under report:- i) The Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 ii) The Securities and Exchange Board of India (Employee Stock Option Scheme and Employee Stock Purchase Scheme) Guidelines, 1999 iii) The Securities and Exchange Board of India (Issue and Listing of Debt Securities) Regulations, 2008 iv) The Securities and Exchange Board of India (Registrars to an Issue and Share Transfer Agents) Regulations, 1993 v) The Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2009 vi) The Securities and Exchange Board of India (Buyback of Securities) Regulations, 1998 vi) Except for the above stated laws, I have relied on the Management representation as to applicability and compliance of laws as are stated in Annexure II. I have also examined compliance with the applicable Clauses of the following: i) Secretarial Standards issued by The Institute of Company Secretaries of India which has come into effect from July 01, 2015 ii) The Listing Agreements entered into by the Company with Stock Exchanges During the period under review, the Company has complied with the provisions of the Act, Old Act, Rules, Regulations, guidelines, standards mentioned above. I further report that the Board of Directors of the Company is duly constituted with proper balance of Executive Directors, Non-executive Directors and Independent Directors as is required as per applicable Clauses | Regulations under Listing Agreement | The Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The changes in the composition of the Board of Directors that took place during the period under review were carried out in compliance with the provisions of the Act. Adequate notice is given to all the Directors to schedule the Board meetings, agenda and detailed notes on agenda were sent at least seven days in advance, and a system exists for seeking and obtaining further information and clarifications on the agenda items before the meeting and for meaningful participation at the meeting. Majority decision is carried through while the dissenting Members’ views are captured and recorded as part of the Minutes wherever required. I further report that there are adequate systems and processes in the Company commensurate with the size and operations of the Company to monitor and ensure compliance with applicable laws, rules, regulations and guidelines.