Management Discussion and Analysis The Management Discussion and Analysis Report for the year under review, as stipulated under Clause 49 of the Listing is included in Point No.11 <http://No.11> of the Report on Corporate Governance, which forms part of this Report. Listing During the year, The Company's equity shares continue to be listed with BSE Limited, the National Stock Exchange of India Limited and the Calcutta Stock Exchange Limited. In wake of an application made by the Company pursuant to the Securities & Exchange Board of India (Delisting of Equity Shares) Regulations, 2009, the Company's equity shares have been delisted from the Calcutta Stock Exchange Limited with effect from 3rd July, 2015. The Company has paid annual listing fees to the respective Stock Exchanges. As the trading in equity shares of the Company is permitted only in dematerialized form, the Company has made the requisite arrangements with National Securities Depository Limited and Central Depository Services (India) Limited to enable investors to hold shares in dematerialized form. Risk Management Risks Management is an integral part of Company's operating framework and is committed towards identifying key risks and managing them in a proactive and efficient manner. The Company periodically assesses both internal as well as external risks to which the Company is exposed to. Company, through its risk management system strives for timely identification, assessment, minimization and management of risks affecting the Company in the foreseeable future. Detailed discussion on Risk Management has been given as a part of Management Discussion & Analysis under the section 'Risks and Concerns', in the Report on Corporate Governance, which forms part of this Annual Report. Internal Financial Control The Company has in place adequate and combrhensive internal financial control system ensuring orderly, effective and efficient conduct of its business. Detailed discussion on internal control has been given as a part of Management Discussion & Analysis under the section 'Internal Control System', in the Report on Corporate Governance, which forms part of this Annual Report. |