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Business Ethics and Corporate Governance

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Submitted By ggosh
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Petroleum Industry:
Corporate
Governance Report
GROUP 9

INDIAN OIL Corporation

Corporate Governance
Philosophy
 IndianOil believes that good Corporate Governance practices ensure ethical and efficient conduct of the affairs of the Company and also help in maximizing value for all its stakeholders like customers, employees and society at large in order to build an environment of trust and confidence among all the constituent
 IndianOil recognizes that good Corporate
Governance is a continuous exercise and reiterates its commitment to pursue highest standards of
Corporate Governance in the overall interest of all its stakeholders Corporate governance framework  Code of Conduct for Directors and Senior
Management Personnel
 Code of Conduct for prevention of Insider Trading
 Enterprise Risk Management Policy
 Integrity Pact to enhance transparency in business
 Whistle Blower Policy
 Conduct, Discipline and Appeal Rules for employees  Corporate Social Responsibility / Sustainable development  Human Resources initiatives

Board of Directors
2011-12

2012-13

2013-14

Chairman

1

1

1

Director

7

7

7

Govt. nominee director 2

2

2

Independent director 6

5

8

Board of directors (2013-14)

Board of directors (2012-14)

Board of Directors (2011-12)

Board meeting (2013-14)
The meetings of the Board of Directors are generally held once in a month. During the financial year 2013-14, thirteen Board Meetings were held.

Board meeting (2012-13)
The meetings of the Board of Directors are generally held once in a month. During the financial year 2012-13, eleven Board Meetings were held

Board meeting (2011-12)
The meetings of the Board of Directors are generally held once in a month. During the financial year 2010-11, eleven such Board Meetings were held

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