The Indian Hotels Company Limited (“the Company”) has been practicing good Corporate Governance even before Securities Exchange Board of India (SEBI) made it a mandatory requirement from 2001. Out of more than 5000 companies listed with the BSE Limited, the Company is categorized as an "A Group" Company which group comprises only 200 companies and the criteria for selection is based on Market Capitalisation, Liquidity, Industry Representation, Listed History and track record of Compliance. Being a TATA group Company, the Company goes beyond the mandatory requirements of Corporate Governance and conducts business in a fair and transparent manner. It maintains good investor relationships and endeavors to deliver to investor consistent quality services.
Board of Directors
Mr. N. Chandrasekaran (Chairman)
Mr. Deepak Parekh
Mr. Nadir B.Godrej
Ms. Ireena Vittal
Ms. Vibha Paul Rishi
Mr. Gautam Banerjee
Mr. Rakesh Sarna (Managing Director & CEO)
Mr. Mehernosh S. Kapadia (Executive Director – Corporate Affairs)
COMMITTEES OF THE BOARD
The Audit Committee assists the Board in supervising the Company’s internal control system and oversees the quality and integrity of the accounting, auditing and reporting practices of the Company and its compliance with the legal and regulatory requirements. The Audit Committee comprises three Independent Directors who have the relevant experience in the field of finance, banking and accounting.
The Committee comprises the following:
Mr. Deepak Parekh - Independent Director
Ms. Ireena Vittal.- Independent Director
Mr. Nadir Godrej
Stakeholders' Relationship Committee
The Stakeholders Relationship Committee is entrusted with the responsibility to resolve the grievances of all security holders of the Company. The Committee meets regularly and reviews the report submitted by the share registry on the status of transfers, demats, redressal of grievances of shareholders, debenture holders and other security holders of the Company, if any, and provides continuous guidance to improve the service levels for investors.
The Committee comprises Mr. Rakesh Sarna and an Independent Director
Nomination and Remuneration Committee
The Nomination & Remuneration Committee is vested with the authority to identify candidates for appointment to the Board of Directors, evaluate their performance and deal with all aspects pertaining to remuneration policy of Directors, Key Managerial Personnel and Employees. The Company has adopted a remuneration policy that is based on criteria such as industry benchmarks, the Company's performance vis-à-vis the industry, performance track record of the Director etc which has been recommended by the said Committee. The Committee comprises three Non Executives Directors, with the Chairman being an Independent Director. The Committee comprises the following:
Mr. N. Chandrasekaran
Mr. Nadir Godrej
Ms. Vibha Paul Rishi
Corporate Social Responsibility Committee
The Committee formulates and monitors Corporate Social Responsibility Policy and the activities to be undertaken by the Company. The Committee also regularly reviews the performance of the Company in the area of Corporate Social Responsibility. The Committee comprises three Directors of which two are Independent viz.
Mr. Rakesh Sarna, Managing Director and CEO - Chairman
Mr. Nadir Godrej – Independent Director
Ms. Ireena Vittal – Independent Director
The Company follows a strict code on Insider Trading mandated by the TATA Group. The process is closely monitored and adhered to strictly.
The Company has a state of art in-house share registry that is registered as a Category I Registrar with SEBI. The Company has over 1,70,000 members. As on date approximately 98% of the Equity Share Capital of the Company has been dematerialized. All correspondence and grievance received from shareholders are responded to within stipulated time. All valid transfers are processed within a week of receipt. All demat requests are processed within 15 days of receipt. All the financial results are promptly reported to the Stock exchange(s) and published in leading newspapers. The results are also simultaneously uploaded on the Company's web.