Governance

Our corporate governance system at SEIL Energy India Limited is built to support our operations, guarantee complete adherence to government, regulatory and legal requirements to ensure a world class governance to all our stakeholders.

A robust, diversified, and independent board guarantees that the company’s governance is implemented effectively. In addition to actively participating in the committees the company has established to guarantee effective governance, independent directors serve as advisors to the company.

At SEIL Energy India Limited, we have designed our corporate governance structure to best support our business, ensure full compliance with laws and regulations and meet the needs of our stakeholders. A strong independent and diverse Board ensures the deployment of effective governance in the Company. Independent directors act as a guide to the Company and play an active role in various committees set up by the Company to ensure good governance.

Corporate Governance

SEIL Energy India Limited remains resolute in its commitment to conduct business in accordance with the highest ethical standards and sound corporate governance practices to retain investor trust and preserve the interest of all existing as well as prospective stakeholders. Further, our corporate structure, business, operations, and disclosure practices are aligned to global practices. We are committed to conduct our business fairly, ethically in compliance with the applicable laws, rules and regulations and with the highest standards of business ethics. The objective of the Company is not only to meet the statutory requirements of the Code of Corporate Governance, but to develop such systems and follow such practices and procedures as would make the management completely transparent and accountable in its interaction with employees, shareholders, lending institutions and customers, thereby enhancing the stakeholders value and protecting the interest of stakeholders.

Managing risks with sound mitigating strategies

Comprehensive Risk Management framework and its effective implementation reinforce the long-term sustainability of the Company. Managing Risk is an integral part of our business activity, and your Board of Directors and management are fully committed to maintaining sound risk management systems for safeguarding the Company and its stakeholders’ interests. The board and senior management of the Company set the tone at the top for proactive and transparent identification and management of risks. They encourage both business managers and risk managers to bring out risks inherent to the business activity.
The Board has overall responsibility for the governance of the Company’s risk management. The board approves the company’s risk policies, and oversees management in the design, implementation and monitoring of risk management systems.
The Audit Committee (AC) assists the board in overseeing risk management for the Company. AC reviews and endorses the Company’s policies, guidelines, and systems to govern the process for assessing and managing risk. AC also review riskrelated reports submitted to it by management. These include updates on the Company’s key risks, emerging threats, reports on compliance with risk policies and any other risk-related issues as well as actions taken to monitor and manage such risk exposure / issues. It also has the authority to approve any deviation to risk management policies or any breach of risk limits.
Business and functional managers are responsible for managing risks in their area of operation/ function as the first line of defence. Towards this end, business/functional managers are identified as risk owner for the identified risks. Risk function acts as the second line of defence. Auditors act as the third line of defence.

Code of Conduct and Ethics Training

All our employees and governance body members follow and conform to the Company’s Code of Conduct and Ethics. Periodic training of employees is conducted for updating their awareness and compliance to the requirement of company Code of Conduct and Ethics.

Board Diversity

14% Women on Board
86% Non-Executive Directors
43% Independent Directors
The Company’s policy is to have appropriate mix of Executive and Non-Executive/ Independent Directors including women Directors on the Board. The number of Non-Executive Directors (NEDs) exceeds 50% of the total number of Directors.
As on March 31, 2024, the Company’s Board of Directors consists of seven members, with one Executive Director and six Non-Executive Directors (NEDs). One NED is women.
The Board comprises of members who bring in the required skills, competence and expertise that allow them to make effective contribution to the Board and its committees. The Board members are committed to ensuring that the Company complies with the highest standards of corporate governance.