Corporate Governance

Corporate Governance is the application of best management practices, compliance with the law and adherence to ethical standards to achieve the Company's objectives aimed at enhancing the shareholder's value and discharging social responsibilities. Our group companies are directed and controlled by a systematic process to enhance their wealth generating capacities. Our Governance process should ensure optimum utilisation of resources to meet the aspirations of our stakeholder's aspirations and expectations of our society.

We remained resolute in our commitment to conduct business in accordance with the highest ethical standards and the soundest corporate governance practices. The Company strongly believes in achieving the objectives of enhanced shareholder's value and increased stakeholder's interest through good corporate governance.

The Company has set up a three tier governance structure, which helps it in strategic decision making, operations and project implementation:

  • Strategic Supervision: The Board of Directors exercises overall strategic supervision to lay down strategic goals, major expansion projects, capital expenditure and business plan approvals which ensure that the Company is focused on fulfilling shareholder aspirations;
  • Operation Management and Control: The Business Management Group comprises of functional heads and unit/plant heads steered by the COO and the CFO. It handles management and coordination through regular reviews and meetings with the objective to seek continuous improvements in the working of the Company and to harness potential.
  • Plant/ Unit Executive Management: comprising of several strategic business units (SBUs) for overall execution and empowerment through decentralized decision making.
  • Composition of Committees

In India, corporate governance standards for listed companies are regulated by the Securities and Exchange Board of India (SEBI) through Clause 49 of the listing agreement of the Stock Exchanges. Omkar Speciality Chemicals Limited has adopted practices mandated in Clause 49 and has established procedures and systems that comply with it completely.

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