Ministry of Corporate Affairs, Government of India issued the Voluntary Guidelines on Corporate Governance in December 2009.
As per clause IA (i) of the Guidelines, the Company should issue formal letter of appointment to Non-Executive Directors and Independent Directors and such formal letter should also be placed by the Company in its website and in the case of listed Companies, also on the website of the Stock Exchanges where the securities of the Company is listed.
As per Clause B.1 (ii) of the Guideline, all Independent Directors should provide a detailed Certificate of Independence at the time of their appointment, and there after annually. This certificate should be placed by the company on its website, if any, and in case the company is a listed company, also on the website of the stock exchange where the securities of the company are listed.
In compliance with the Clause IA (i) of the Guideline, letters dated 30.08.2010 issued on the appointment of Mr. P.K. Singh, Director (R&A), Ministry of Petroleum and Natural Gas and Mr.R.K.GHOSH, Director (Refineries), Indian Oil Corporation Limited(letter dated 06.09.2011) as Directors (Non-Executive Directors) are given in attachment.
In compliance with Clause B.1 (ii) of the Guideline, Certificate of Independence has been obtained from the Independent Directors of the Company and the same are given in attachment.
Letter dated 09.03.2011 issued on the appointment of Mr. R.S. Butola, Chairman, Indian Oil Corporation Limited as Director (Non-Executive Director) as given in attachment.
Disclosure of General Information(click)
Letter to the director(06.09.2011)(click)
Letter to the director(09.03.2011)(click)
Letter to the director(click)
Certificate of Independence(click)