Good governance facilitates efficient, effective and entrepreneurial management that can deliver stakeholders value over the longer term. It is about commitment to values and ethical business conduct. It is a set of laws, regulations, processes and customs affecting the way a company is directed, administrated, controlled or managed.
Good corporate governance underpins the success and integrity of organizations, institutions and markets. It is one of the essential pillars for building an efficient and sustainable environment.
Corporate Governance is based on the principles of integrity, fairness, equity, transparency, accountability and commitment to values. Good governance practices stem from the culture and mindset of the organization. The effectiveness of Corporate Governance in our Company depends on regular review -preferably a regular independent review. As stakeholders across the globe evince keen interest in the practices and performance of companies, Corporate Governance has emerged at center stage.
HCLTech -Philosophy on Code of Governance
- Satisfy the spirit of the law and not just the letter of the law. Corporate Governance standards should go beyond the law.
- Be transparent and maintain a high degree of disclosure levels. When in doubt, disclose it.
- Make a clear distinction between personal convenience and corporate resources.
- Communicate externally, in a truthful manner, about how the Company is run internally.
- Have a simple and transparent corporate structure driven solely by business needs.
- Comply with the laws in all the countries in which we operate.
- Management is the trustee of the shareholders’ capital and not the owner.
Corporate Governance -A Snapshot
Corporate Governance is prepared under the SEBI Listing Regulations with Indian Stock Exchanges. Some of the important sections of Corporate Governance are:
- Board of Directors
- Board Committees
- Code of Conduct
- Anti Bribery and Anti Corruption Policy
- Code for Prevention of Insider Trading
- Sexual Harassment Policy
- Whistle Blower Policy
- Investor Satisfaction Survey