Ahluwalia Contracts (India) Limited has addressed findings regarding the gap between two consecutive Risk Management Committee meetings. The company acknowledged that the meetings held on February 13, 2023, and November 10, 2023, exceeded the mandated timeframe. Management has expressed its commitment to strict adherence to operational governance standards moving forward and has ensured that this oversight was unintentional and will be rectified in all future scheduling.
Addressing Governance Observations
Following a review of internal corporate governance practices, Ahluwalia Contracts (India) Limited has provided a formal response regarding the scheduling of its oversight committee meetings. It was identified that a duration of 270 days elapsed between the committee sessions held on February 13, 2023, and November 10, 2023. The company has formally acknowledged this interval, which surpassed the standard operational limit of 180 days.
Commitment to Future Compliance
The company leadership has emphasized that this deviation was entirely inadvertent. In response to the feedback received, the organization has implemented measures to ensure that future committee meetings are scheduled and conducted in full alignment with established governance protocols. Strengthening internal oversight remains a priority to prevent similar scheduling lapses.
Strategic Transparency
As part of its commitment to transparent corporate governance, the company has taken proactive steps to place these findings before its Board of Directors. By formalizing this communication, Ahluwalia Contracts (India) Limited aims to reinforce its dedication to operational excellence and regulatory compliance, ensuring that all procedural requirements are consistently met in subsequent financial periods.
Source: BSE
