CORPORATE GOVERNANCE PHILOSOPHY

Corporate Governance is essentially the system which guides and directs the management of a Company in handling its affairs in the best interest of the shareholders and others. Corporate Governance which aims to promote fairness, transparency and integrity of the management is not a mere legal compulsion but rather a way of life, which helps in inspiring and strengthening investor’s confidence and commitment to the company.

The Clause 49 of the Listing Agreement with the Stock Exchanges that deals with Corporate Governance and also the Guidelines on Corporate Governance for Central Public Sector Enterprises (CPSEs) issued by the Department of Public Enterprise (DPE) aims to achieve the highest standard of transparency, trust, integrity, responsibility, accountability and strong emphasis on ethical and professional conduct.

STC believes that Corporate Governance is a prerequisite of all round efficiency in the day-to-day affairs of a company which is necessary to maximize value for all its stakeholders. It strives to adopt such corporate practices that are based on transparency and proper disclosures and ensure accountability of the persons in key positions thereby benefiting investors, customers, creditors, employees and the society at large.

The company adheres to good corporate practices and constantly strives to improve the same.