Eicher Motors Limited has been one of the front-runners in India to adopt a "Code of Corporate Governance".
Our philosophy on Corporate Governance emanates from resolute commitment to protect stakeholder rights and interests, proactively manage risks and create long-term wealth and value. It permeates in all aspects of working - workplace management, marketplace responsibility, community engagement and business decisions.
The code of conduct and the governance are based on the corporate principles and strong emphasis laid on transparency, accountability, integrity and compliance.
The governance processes of the Company include creation of empowered sub-committees of the Board to oversee the functions of executive management. These sub-committees of the Board mainly consist of non-executive directors and independent directors, which meet and deliberate regularly to discharge their obligations.
For details, download the Corporate Governance report.
In terms of clause 49(II)(B)(7) of the Listing Agreement, a program has been conducted for independent directors.
The program was conducted by a leading firm of Chartered Accountants. Independent directors were familiarized with their duties, rights, roles as individual directors as also members of the Board and its various committees. The program coverage included detailed discussions on corporate governance norms and procedures as envisaged in Companies Act 2013 and the Listing Agreement with the stock exchanges.
The directors were also provided a general overview of the industry in which the Company operates including recent trends and competitive landscape.