Grievance Redressal

Investors may kindly note the following addresses for correspondence:

For Share Transfer/Demat of Shares or Any Other Query Relating to Share
M/s. Venture Capita and Corporate Investments Pvt Ltd
12-10-167, Bharat Nagar, Hyderabad- 5000 18.
Phones: 23818475/ 23818476/23868023
Fax: 040-23868024,
E- mail: info@vccilindia.com
Web: http://www.vccilindia.com/

For Investor Assistance In Any Other Matter
Srishti Agarwal
Company Secretary & Compliance Officer
Mipco Seamless Rings (Gujarat) Limited
Plot No 82, Abburu Heights, Door No: 1-80/40/SP/82
Silpa Layout, Hitech City
Gacchibowli, Serilingampally
Hyderabad-500081
E.mail: srishti.agarwal@corpus.com

About Us

MIPCO SEAMLESS RINGS (GUJARAT) LIMITED

Mipco Seamless Rings (Gujarat) Limited (MSL) was incorporated in 1980, to manufacture rolled rings for bearing races. It commenced production at the ring rolling mill in April, 1982. Its work was situated in Bharuch, Gujarat and has installed capacity of 21.30 Millions. In order to widen the range of Rings manufactured in the plant, the company undertook to establish facilities for the manufacture of forged combination rings. The new forging line was installed in May, 1987.During 1988-89, the registration certificate was received from government for the enhanced capacity of rolled rings machined/ unmachined for Bearing races to 10 million Nos. During 1991-92, the Company added certain additional balancing equipments to ease the production bottlenecks. During 1993-94, the Company installed wind turbines to meet the company with demand for power. Mipco Seiko Bearings Ltd. was amalgamated with the Company with effect from 1st April, 1995. It undertook modernisation of its machinery during 1995-96 to improve productivity.

Board of Directors

The Management of Company is made of individuals with the wealth of industry experience. At the helm of affairs are the Company�s Directors, whose profiles offer a brief introduction and help get acquainted with them.

1. Mr. Sachendra Tummala: Managing Director

Mr. Sachendra is an accomplished entrepreneur with the vision and breadth of experience. He is B.S Electronics & Communications and as Corpus founder. Sachin is well grounded in technology having started his career as a technical assistant with Silicon Graphics and then moving on to Imation and finally Lucent Technologies where he served as financial consultant. Previously, he was a founder partner of a highly successful technology solutions company located in Houston, Texas. Corpus track record has secured itself a lofty place in business history as one of the true success in the DFW areas. From a five man start-up to a current employee base of around 300, with operations in Dallas, Atlanta, NY, Denver and Global operations in London, Holland, Singapore, Delhi, Bangalore and Hyderabad. Mr. Sachendra is a serial entrepreneur and an investor had started and funded many companies across IT, Healthcare and Media.

2. Mr. Sanjiv Kumar Tandon: Director

Mr. Sanjiv Kumar Tandon is a Chartered Accountant having more than 15 years of experience in the field of Finance & Accounts in different organizations mainly in IT and related sectors. He has worked extensively on all the core functions of Finance & Accounts which includes ; Direct and Indirect Taxation, Handling of IPO, Merger and acquisition, Transfer Pricing, Internal Control Procedures, Statutory Compliances, Process Automation, Budget, MIS, Staff training and Development etc.
He has also headed the HR and Administration function in various organizations. He has contributed in design, development & implementation of performance &people growth related programs and other core function of HR for more than 8 years, that include: conceptualizing, designing and executing various HR policies and processes like Talent Acquisition, Performance Management, Competency mapping, Career Progression, Pay Roll Management, Statutory Compliances etc.

3. Mr. Surya Chilukuri: Director

Mr. Surya Chilukuri, a 20+ year's industry veteran in the Chief Technology Officer handling Global Service Delivery for competencies including Media & Entertainment. In the previous year Surya has worked as with top Fortune 500 telecom and media companies in the area of Cloudification, Big Data, BSS, Business & Accounting applications.

4. Mr. Sudhir Manubhai Patel: Non Executive Director

Mr. S.M. Patel, aged 69 years has been associated with the Bearings Industry for over two decades and has finance background with a qualification of Diploma in Accountancy & Finance and C.A. (Inter) Kenya. Mr. S.M. Patel has served in various organizations in capacity of Director and Managing Director and was also member in various Committees and presently he is an Executive Chairman of ABC Bearings Limited, which is a listed Company.

5. Mrs. Sridevi Nadella: Women Independent Director

Mrs. Sridevi Nadella is an Independent Director of Mipco since 2014.

6. Mr. Ravi Kumar Chennupati:

Mr. Ravi Kumar Chennupati is a citizen of USA had completed his Bachelors of Engineering from Sathyabhama Engineering College, Chennai and his post graduation in IT from the Queens Land University, Brisbane, Australia. He later started his career as a Technology Consultant. He was the founder and President of M/s Raicon Solutions LLC, NY, USA. Presently he is a chairman of eZone Securities Solutions (India) Private Limited.


Board Committee

Committees Composition
Audit Committee Mr. Ravi Kumar Chennupati
Mr. S.M Patel
Mr. Sanjiv Kumar Tandon
Nomination & Remuneration Committee Mr. Ravi Kumar Chennupati, Chairman
Mr. S.M Patel
Mr. Sanjiv Kumar Tandon
Stakeholder Relationship Committee Mr. Ravi Kumar Chennupati, Chairman
Mr. Surya Chilukuri
Mr. Sachendra Tummala

Annual Reports

Annual Reports Download
Annual Report 2016-17 View/Download
Annual Report 2015-16 View/Download
Annual Report 2014-15 View/Download
Annual Report 2013-14 View/Download
Annual Report 2012-13 View/Download
Annual Report 2011-12 View/Download

Financial Results

2nd Quarter half yearly Financials Results Sep 2017 IND-AS
1st Quarter Financials Results June 2017 IND-AS
4th Quarter Financials Results March 2017
3rd Quarter Oct-Dec 2016 Results PFA
2nd Quarter July-Sept 2016 Results PFA
1st Quarter Apr-June 2016 Results PFA
4th Quarter and Year ended Jan-March 2016 Results
3rd Quarter Oct-Dec 2015 Results
2nd Quarter July-Sept 2015 Results
1st Quarter Apr-June 2015 Results
3rd Quarter Oct-Dec 2014 Results
2nd Quarter July-Sept 2014 Results
1st Quarter Apr-June 2014 Results
4th Quarter Jan-Mar 2014 Results
3rd Quarter Oct-Dec 2013 Results
2nd Quarter July-Sept 2013 Results
1st Quarter Apr-June 2013 Results

Notices & Press Releases

7(3) Compliance Certificate September 2016 View/Download
40(9) PCS cert september 2016 View/Download
AGM 2016 intimation to RTA View/Download
AGM Extension cerificate_2015 View/Download
AGM Intimation_ BSE 2016 View/Download
AGM LETTER 2016 View/Download
E -VOTING 2015 View/Download
Intimation of Board Meeting 10th Aug, 2016 View/Download
Intimation of Board Meeting 11th Nov 2016 View/Download
Intimation of Board Meeting 13th Feb 2017 View/Download
Intimation of Board Meeting 26th May, 2016 View/Download
Mipco Final Press AGM 2016 notice View/Download
Mipco Outcome_29.09.2016 View/Download
Newspaper_notice_AGM 2015 View/Download
Outcome_AGM_2015 View/Download
Reg 55A Reconcilation of Share Capital Report June 2016 View/Download
Reg 55A Reconcilation of Share Capital Report_Dec 2016 View/Download
Reg 55A Reconcilation of Share Capital Report_march 2017 View/Download
Reg 55A Reconcilation of Share Capital Report_sep 2016 View/Download
Regulation 13(3) Investor Complaint_Dec16 View/Download
Regulation 13(3) Investor Complaint_Mar17 View/Download
Scrutinisers Report - 2015-16 View/Download
Scrutinizer Report AGM 2015 View/Download
Statement of Investor Complaint Reg 13(3)_June 2016 View/Download
Statement of Investor Grievance Reg 13(3)_Sep 2016 View/Download
Voting results AGM 2016 View/Download
Intimation in relation to 36th Annual General Meeting View/Download
Statement of Investor Complaint View/Download
Intimation of Board Meeting 16th May 2016 View/Download
Compliance under Regulation 13(3) of SEBI(LODR) Regulations 2015 View/Download
Compliance under Reg30(5) of SEBI(LODR) Regulations 2015 View/Download
Intimation of Board Meetings 09th Feb 2016 View/Download
35th Annual General Meeting on 30th Dec 2015 View/Download
Notice of Annual General Meeting View/Download
General Notice View/Download
Intimation BSE AGM Extension Approval View/Download
Intimation of Trading Window BSE dt 02.11.2015 View/Download
Outcome of the Board Meeting dt 13.08.2015 View/Download
Order under section 13(4) of the Companies Act 2013 from RD (NWR) Ahmedabad dt 13.01.2015 View/Download
Outcome of the AGM dt 27.09.2014 View/Download
Postal ballot results dt 27.09.2014 View/Download
Notice of Book Closure dt 10092014 View/Download
E-Voting Facility View/Download
Postal Ballet Notice View/Download
BSE Observation Letter dt 15.05.2014 View/Download
SEBI observation letter dt 13.05.2014 View/Download

Policies

Policy on Determination of Materiality of Events or Information for making disclosure View/Download
Nomination & Remuneration Policy View/Download
Related Party transaction Policy View/Download
Board Diversity Policy View/Download
Policy on Preservation of Documents View/Download
Whistle Blower Policy View/Download

Corporate Governance

Corporate Governance for quarter ended September, 2017 View/Download
Corporate Governance for quarter ended March, 2017 View/Download
Corporate Governance for quarter ended June, 2017 View/Download
Corporate Governance for quarter ended December, 2016 View/Download
Corporate Governance for quarter ended September, 2016 View/Download
Corporate Governance for quarter ended June, 2016 View/Download
Corporate Governance for the Quarter ended Mar 31st 2016 View/Download
Corporate Governance for the Quarter ended Dec 31st 2015 View/Download
Corporate Governance for the Quarter ended Sept 30th 2015 View/Download
Corporate Governance for the Quarter ended June 30th 2015 View/Download
Corporate Governance for the Quarter ended March 31st 2015 View/Download
Corporate Governance for the Quarter ended Dec 31st 2014 View/Download
Corporate Governance for the Quarter ended Sept 30th 2014 View/Download
Corporate Governance for the Quarter ended June 30th 2014 View/Download
Code of Conduct for Insider Trading View/Download
Code of Conduct for Directors and Sr. Management View/Download

Share Holding

Shareholding Pattern Sep, 2017 View/Download
Shareholding Pattern June, 2017 View/Download
Shareholding Pattern March, 2017 View/Download
Shareholding Pattern Dec, 2016 View/Download
Shareholding Pattern Sept, 2016 View/Download
Shareholding Pattern June, 2016 View/Download
Share Holding Pattern Sept 2015 View/Download
Share Holding Pattern June 2015 View/Download
Share Holding Pattern March 2015 View/Download
Share Holding Pattern Dec 2014 View/Download
Share Holding Pattern Sept 2014 View/Download
Share Holding Pattern June 2014 View/Download
Share Holding Pattern March 2014 View/Download

Other Disclosures

Familiarization Program for the Board of Directors

In terms of Reg. 25(7) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Company should conduct the Familiarization Program for Independent Directors about their roles, rights, responsibilities in the company, nature of the industry in which the company operates, business model of the company, etc., through various initiatives.

The Board of Directors is further encouraged to continue the training sessions to ensure that the Board members are kept up to date.

Terms and Conditions for Appointment of Independent Directors

Schedule IV to the Companies Act, 2013 provides for the 'Code for Independent Directors'. The appointment process of Independent Directors is independent of the company management. During the selection process, the Board ensures that there is appropriate balance of skills, experience and knowledge in the Board so as to enable the Board to discharge its functions and duties effectively.

The appointment of Independent Director(s) of the Company is approved at the meeting of the shareholders. The Board always ensures that the Independent Director proposed to be appointed fulfils the conditions specified in the Act and the Rules made thereunder and that the proposed director is independent of the management and a statement to that effect is included in the explanatory statement attached to the notice of the meeting.

The terms and conditions for the appointment of the Independent Director are elaborated below:
Terms and Conditions of Appointment of Independent Directors

Schedule IV to the Companies Act, 2013 provides for the 'Code for Independent Directors'. The appointment process of Independent Directors is independent of the company management. During the selection process, the Board ensures that there is appropriate balance of skills, experience and knowledge in the Board so as to enable the Board to discharge its functions and duties effectively.

The appointment of Independent Director(s) of the Company is approved at the meeting of the shareholders. The Board always ensures that the Independent Director proposed to be appointed fulfils the conditions specified in the Act and the Rules made thereunder and that the proposed director is independent of the management and a statement to that effect is included in the explanatory statement attached to the notice of the meeting.

The terms and conditions for the appointment of the Independent Director are enumerated below:

Appointment

  • The appointment is for a term of 5 (five) years commencing from the date of appointment and ending (�Termination Date�) on 6th Annual General Meeting of the Company following the date of appointment and shall not be liable to retirement by rotation. Unless the appointment is renewed on or prior to the Termination Date, the appointment shall come to an end on the Termination Date. The appointment is as per the Company's Articles of Association.
  • Notwithstanding the other provisions of the terms and conditions of the appointment of the Independent Director, the appointment may be terminated with or without cause at any time by the Company with immediate effect, in accordance with the Companies Act, 2013 and Rule and Regulations made thereunder and the Company's Articles of Association or, as applicable, or upon the resignation of the Independent Director, or the Board of Directors (excluding the concerned Independent Director) is of opinion that the continued appointment is not in the interest of the Company. Upon such termination or resignation of the appointment for any reason, the Independent Director shall not be entitled to any damages for loss of office and no fee will be payable in respect of any unexpired portion of the term of the appointment or any damages whatsoever. Upon such termination or resignation, the Independent Director will have to undertake to sign all appropriate paperwork that the Company may require.
  • During the term of the appointment, the Independent Director may be asked to serve on one or more of the Board Committees including Audit Committee, Nomination and Remuneration Committee, Stakeholders Relationship Committee or such committee of the Board of the Directors from time to time and copies of the terms of Reference for each of those committees will be provided to him.
  • If circumstances change, and the Independent Director believes that his independence may be in doubt, he should discuss this with the Chairman of the Company as soon as possible.

Time Commitment
By accepting the appointment, the Independent Director confirms that he is able to allocate sufficient time to perform his role as an Independent Director of the Company. In terms of the Companies Act, 2013, he will have to attend at least one Board Meeting during every Financial Year in-person. Also, he will strive to attend the Board / its committees� calls whenever scheduled as per the best convenience of all the attendees.

Role and responsibility

  • As an Independent Director, he will be bound by the Code for Independent Directors as mentioned under Schedule IV to the Companies Act, 2013.
  • As an Independent Director, he has the same general legal responsibilities to the Company as any other Director including all fiduciary duties, responsibilities, statutory obligations and liabilities of directors prescribed in law including the Companies Act, 2013
  • The Board as such is collectively responsible for promoting the success of the Company by directing and supervising the Company�s affairs. The brief description of the terms of reference of the Board of Directors are as follows:
    • To manage and direct the business and affairs of the Company;
    • To manage, subject to the Articles of Association of the Company, its own affairs, including planning its composition, selecting its Chairman, appointing Committees, establishing the terms of reference and duties of Committees and determining Directors' compensation;
    • To act honestly and in good faith in the best interests and objects of the Company, its employees, its shareholders, the community and for protection of environment;
    • To exercise due care, diligence and skill that a reasonably prudent person would exercise in comparable circumstances and shall also exercise independent judgment;
    • To participate directly or through its Committees, in developing and approving the mission of the business, its objectives and goals and the strategy for their achievement;
    • To ensure congruence between shareholders' expectations, Company's goals, objectives and management performance;
    • To monitor the Company's progress towards its goals and to revise and alter its direction in light of changing circumstances;
    • To approve and monitor compliance with all significant policies and procedures by which the Company is operated;
    • To ensure that the Company operates at all times within applicable laws and regulations and ethical and moral standards;
    • To ensure that the performance of the Company is adequately reported to shareholders, other stakeholders and regulators on a timely and regular basis;
    • To ensure that the audited annual financial statements are reported fairly and in accordance with the Accounting Standards issued by the Institute of Chartered Accountants of India;
    • To ensure that any developments that have a significant and material impact on the Company are reported from time to time to the concerned authorities;
    • Not to involve in a situation which may have a direct or indirect interest that conflicts, or possibly may conflict with the interest of the Company;
    • Not to assign his office and any assignment so made shall be void; and
    • To act in accordance with the laws and regulations of the country and the Memorandum and Articles of Association of the Company.
  • In addition to the above responsibilities, the role of the Independent Directors shall also have the following key elements:
    • Strategy and Business Development: The Independent Director should constructively challenge and contribute to the overall strategy and to the business development initiatives of the Company by getting actively engaged with the Company in making introductions to potential clients in the key service areas of the Company;
    • Performance: The Independent Director should scrutinize the performance of management in meeting agreed goals and objectives and monitor the reporting of performance; and
    • Risk: The Independent Director should satisfy himself that financial information is accurate and that financial controls and systems of risk management are robust and defensible.

Other obligations and compliances

The Independent Director will be required to execute / confirm with respect to the following documentation on a periodic basis:

  • Confirmation that he is not disqualified to act as a Director of the Company in terms of the Companies Act, 2013
  • Declaration of Independence in terms of the Companies Act, 2013
  • Disclosures under the Company Code for Prevention of Insider Trading
  • Code of Conduct for Directors of the Company
  • Code of Conduct for Independent Directors as per Schedule IV of the Companies Act, 2013
  • Disclosure of change in interest in companies where he is appointed / ceased as a Director or Key Managerial Personnel

Code of Conduct

During the period of the appointment, the Independent Director will be bound by the Company Code of Directors and such other codes of conduct under applicable laws including the Companies Act, 2013 and the Securities and Exchange Board of India Act, 1992.

Confidentiality and Non-Disclosure

  • The Independent Director must apply the highest standards of confidentiality and not disclose to any person or company (whether during the course of the appointment or at any time after its termination) any confidential information concerning the Company and any Group Companies (including wholly owned subsidiaries) with which he comes into contact by virtue of his position as an Independent Director of the Company.
  • Any information concerning the Company's business, its customers, suppliers, etc. which is not in public domain and to which all employees do not have access, should be considered confidential for the purpose and should be held in confidence, unless authorised to do so and when disclosure is required as a requirement of law.
  • The attention is drawn to the requirements under Indian regulations as to the disclosure of price sensitive information. The Independent Director shall not provide any information either formally or informally, to the press or any other publicity media without prior written clearance from the Chairman or Company Secretary.
  • The examples of confidential information are, but not limited to the following:
    • Business plan, annual operations plan
    • Costing, pricing, profitability, financial budget and related issues
    • Details of past, present and future contracts and proposals
    • Communication facilities and equipment
    • Any other information, which is likely to be crucial for the business operations
  • On termination of the Appointment, the Independent Director will deliver to the Company all books, documents, papers, and other property of or relating to business of the company or any Group Company which are in their possession, custody or power by virtue of their position as an Independent Director of the Company. The Company will arrange the disposal of papers that he no longer requires.
  • If there is a breach or threatened breach of the provisions of Confidentiality, the Company shall be entitled to injunctive relief.

Liability

An Independent Director will be liable only in respect of such acts of omission or commission by a company which had occurred with his knowledge, attributable through Board process, and with his consent or connivance or where he had not acted diligently.

Review Process

The performance of individual Directors and the whole Board and its committees is evaluated annually. The Independent Director will have to make himself available for carrying out the annual / periodic performance review of himself and the Board committees where he is a part thereof for review purpose. Independent Director has to further confirm that he will extend his contribution to review of the Board of Directors individually as well as for its various committees on behalf of / as desired by the Board of Directors on an annual / periodic time frame.

If, in the interim, there are any matters which cause an Independent Director concern about his role, he can discuss them with the Chairman as soon as it is appropriate.

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