Report on Corporate Governance:
Company's Philosophy on Code of Governance
Board Level Issues
Audit Committee
Remuneration Committee
Investors / Shareholders Grivance Committee
Means of Communications
General Shareholder Information

E-mail for grievance redressal - secretarial@rkforge.in & invest@rkforge.in

Designated official for assisting and handling investor grievances - Mr.Vijay.V.Kulkarni - Company Secretary.


1. Company's Philosophy on Code of Governance
Rajkumar Forge Limited’s philosophy on Corporate Governance aims at establishing and practising a system of good corporate governance which will assist the management in managing the company’s business in an efficient and transparent manner for achieving the corporate objectives so as to provide best services in the best interests of the stakeholders like shareholders, employees, customers, suppliers, vendors etc.
 
2. Board Level Issues
 
Composition of the Board.
The strength of Board was six Directors as on 31st March 2007, comprising of Chairman and Managing Director, who is an executive Director and 4 other Directors, of whom three are independent.


 
Information placed before the Board
The Board of Rajkumar Forge Ltd. is presented with all relevant information on various vital matters affecting the working of the company in addition to the matters set out in Annexure IA of Clause 49 of the Listing Agreement. Also, extensive information is provided on various critical matters such as production, sales, exports, financial performance, foreign exchange exposure, staff matters, legal proceedings, share transfer compliance, quarterly financial results, significant labour and human relation matters, and other such matters.

   
3. Audit Committee
The role and terms of reference of the Audit Committee cover the matters specified under Clause 49 of the Listing Agreement with the Stock Exchanges, Section 292A of the Companies Act, 1956, other terms as may be referred by the Board of Directors and inter-alia includes the following:
Overseeing of the company’s financial reporting process and the disclosure of its financial information to ensure that the financial statement is correct, sufficient and credible.
Recommending to the Board, the appointment, re-appointment and, if required, the replacement or removal of the statutory auditor and the fixation of audit fees.
Reviewing, with the management, the quarterly financial statements before submission to the board for approval etc.
   
The present Audit Committee comprises of 3 non-executive, financially literate Directors viz., Shri P. B. Kore, Mr.Pradeep Bhargava and Mr. Swastik Sirsikar. Out of these three directors Mr.Pradeep Bhargava is the Chairman of the Committee
The Audit Committee meetings are also attended by Managing Director and Account Officer. The Statutory auditors/representatives of the statutory auditors and the internal auditors also attend the Meetings of the Audit Committee. The Company Secretary acted as a Secretary of the Committee.