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23 views2 pages

Case Study

study study

Uploaded by

wdm20361
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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= a Case 2: Reliance Industries and Corporate Dn Governance ae Reliance is one of the pioneers in the country in implernenting the best international practices of \ Corporate Governance. \ The board of Directors at Reliance periodically reviews its composition for ensuring a strong element \ of independence and commitment. The Directors are elected by the shareholders. However the board, \ | | | | | plays an important role in the selection of candidates for shareholders’ approval. \ Roles and Responsibilities of Board and Management \ The board's roles and responsibilities include establishing an effective mechanism for overseeing the affairs, keeping in view the company’s size, complexity, geographical operations and corporate tradition and culture. The Reliance’s framework is designed to: Enable the Board to provide strategic guidance for the management; ies of senior executives to ensure accountability: © Define the respective roles and responsibt Ea i indivi has unfettered powers. it le individual e Ensure a balance of authority such that na financial position, the Company nas putin place dit committee, which is Tesponsible Iso constituted an au tivity of the internal audit function and independence To ensure the truthful and factual presentat a strong internal audit process. The board has al ne external reporting, performance and objec! of the external auditors. igs a To ensure long-term shareholder value creation and to promote shareholder participation in corpo. i ed communication strategies, including a policy for ate website for convenient access by | | clarity in notices of meetings. Reliance also maintains its corpor: the shareholders to all the information about the company. Cerkes i. The company has adopted a remuneration policy that attracts and maintains talented and motivated executives so as to encourage enhanced performance of the company. The remuneration Policy envis- ages a clear relationship between performance and remuneration, including the link between remunera- tion paid and the overall corporate performance. Question Discuss the link between Board of Directors and Corporate Governance practices in Reliance.

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