RNAM‘s Board and its management firmly believes in an organizational culture of robust & highest standards of Corporate Governance since the same is critical in order to retain & enhance the trust of its various stakeholders. Over a period of time, RNAM has achieved considerable success & visibility in the market and the significant credit for this goes to the practice of strict adherence of Corporate Governance principles & ethical conduct at the marketplace. The implementation and observance of ethical processes & policies and good Corporate Governance has helped RNAM in standing up to the scrutiny of its domestic as well as international investors and stakeholders.
RNAM’s philosophy with respect to Corporate Governance envisages the attainment of the highest levels of transparency, accountability and equity, in all facets of its operations and in all its interactions with its stakeholders, including shareholders, employees, the government, lenders and the society. The Company believes that all its operations and actions must serve the underlying goal of enhancing long-term shareholder value.
RNAM’s philosophy of Corporate Governance is guided by the following core principles-
Transparency - To maintain highest standards of transparency in all aspects of interactions & dealings;
Disclosures - To ensure timely dissemination of correct information to the relevant stakeholders & regulatory authorities;
Empowerment and Accountability - To demonstrate highest levels of personal accountability in order to ensure that employees consistently pursue excellence in everything they do;
Compliances - To timely comply with all the applicable laws and regulations, in letter & spirit;
Ethical Conduct - To conduct the affairs of the company in an ethical & just manner; and
Stakeholders’ Interests - To promote the interests of all stakeholders including that of the unit holders, shareholders, employees, vendors and the community at large.
RNAM’s Board comprises of a just & right mix of individuals, who are well-experienced in their respective fields & who have a huge and visible credibility alongside their respective names. Fifty percent of RNAM’s Board is Independent.
Apart from exercising their experience & diligence on the company’s business, RNAM’s Board has a very high degree of focus on the matters concerning compliances and Corporate Governance.
The meetings of the Board are conducted in a professionally conducive manner and the thrust is always there on the principles of complete & fair disclosures, core compliance & accountability. The Board also ensures that the affairs of the company are always conducted within the permitted regulatory framework and in the interest of its stakeholders. The Board monitors the financial performance of the Company and ensures that the financial results are prepared in accordance with the generally accepted accounting principles and is reported to shareholders and regulators on a timely and regular basis.
All the critical policies of the company are reviewed & approved by the Board of Directors, at least once a year or as and when required. Similarly various operational committees of the company’s senior management, which are required for making the day to day decisions, are also constituted with the prior approval of the Board and the decisions taken by these committees are further put up before the Board for their noting.
Further, in line with the statutory requirements, a Audit committee is also in place which comprises of all the board of directors of the company as its members. The role of the audit committee is to review the internal control systems and the annual financial statements of the company.
Further, in accordance with the applicable provisions and as a matter of good Corporate Governance, the Company has appointed various auditors namely auditor for the various mutual fund schemes of Reliance Mutual Fund, statutory auditor and internal auditor, all being agencies of repute and standing. These auditing agencies periodically submit their report, which are placed before the audit committee for discussion, review and implementation of recommendations.
The Company appropriately and timely discloses the required information to its prime regulator i.e. SEBI and other relevant authorities and its unit holders.
RNAM’s Corporate Governance philosophy envisages attainment of highest levels of integrity, accountability, performance and ethical behavior in all facets of business and one of the most critical organizational motto’s is to instill and nurture the culture of “Total Compliance” across the organization.