The Corporate governance philosophy is based on the principles of equal opportunity, fairness, transparency, upholding the law in its truest spirit and maintaining honest communications with all stakeholders. Hindustan Power believes that sound corporate governance is necessary not just to retain stakeholders trust but is very essential for efficient working and proper conduct of the business of the Company with integrity & transparency. Development of Corporate Governance guidelines is a continuous process, which evolves over a period of time and undergoes changes to suit the changing times and needs of the businesses, society and the nation as well.
The Board of Directors is at the core of corporate governance practices and oversees how the management serves and protects the long-term interests of all its stakeholders. Our Board members with their vast & varied experience and knowledge guide the company and its officials to uphold the norms in accordance to the highest industry benchmarks, be it management, commerce, finance, banking, technical, legal, secretarial etc. The Board(s) of the company & its subsidiaries have formed various committees such as Audit Committee, Banking Committee, Allotment Committee, Nomination & Remuneration Committee, and CSR Committee as well as the Corporate Environment/Communication Team. These committees have been vested with the necessary powers to efficiently manage the affairs of the Company/Subsidiaries.
Code of conduct has been laid down by the Board with a view to promote good corporate governance and exemplary personal conduct. It is applicable to all directors and senior managerial personnel of the company. The Board of Directors has also approved a Code of internal procedures and conduct to avoid any misconduct in the affairs.
As a part of its commitment to follow best practices and good corporate governance, Hindustan Power abides by the highest rules and guidelines applicable in the Country. Conforming to these guidelines and enthused by its own urge to be looked upon as a free, fair and trustworthy organization, the Company keeps innovating various ways to ensure that its businesses and social accomplishments are achieved with integrity.
We believe that for our Company to be successful over time and create sustainable value for its stakeholders, we must also create value for the society. Best corporate governance practice helps us strike the right balance in our pursuit of long-term, sustainable value creation.