Corporate Governance

Corporate Governance is defined as a set of systems, processes and principles which ensure that a company is governed in the best interest of all stakeholders.
WBHDCL is committed to good Corporate Governance as per Guidelines on Corporate Governance. The Board of Directors lays strong emphasis on fairness, accountability and integrity and commits to managing the company in a transparent manner for maximizing long-term value of the company for all its stakeholders.
As per Companies Act, 2013, the maximum and minimum number of directors in a public company are 15 (fifteen) and 3(three) respectively. At present, there are 12 Directors in the Board of WBHDCL.
Regular meetings of the Board of Directors are held to decide on crucial issues concerning the company.As per the Companies Act, 2013 a company should have at least 4 Board meetings in each year with a gap of not more than 120 days between two Board meetings.
The details of the Board Meetings, Annual General Meeting and Extra Ordinary Annual General Meetings since incorporation of the company till date are given below. The Company serves minimum seven days notice before the Board meeting to all the members as per the statutory requirement.

Financial Year Date of Board Meeting Date of AGM Date of EGM
FY 2012-2013 3rd May 2012 9th October 2013 3rd May 2012
9th May 2012 26th March 2013
21st June 2012  
1st December 2012  
26 th March 2013  
FY 2013-2014 28th June 2013 29th September 2014 29th September 2014
31st August 2013  
13th November 2013  
11th January 2014  
21st February 2014  
FY 2014-2015 10th June 2014  
14th August 2014  
25th September 2014  

The annual filing (submission of Profit and Loss Account, Balance Sheet and Annual Return) for 2012-2013 and 2013-2014has been done by WBHDCL with ROC in a time bound manner without any default.
WBHDCL is also meeting the payment of Salaries and Wages, Statutory Dues and other Administrative Expenses as per prescribed norms. Regular payments are made for all the dues like Income Tax, Service Tax, Sales Tax TDS, Building and Other Construction Workers Cess and corresponding returns are filed on timely basis.
WBHDCL lays stress on internal financial controls and internal auditor is appointed by the Board toprovide an independent and objective assessment of the effectiveness and efficiency of the companys operations, specifically its internal control structure.
G. P. Agrawal & Co. (Chartered Accountants) were appointed as Statutory Auditors of the Company for the Financial Year 2012-13,2013-14 and 2014-15 by the Office of Comptroller & Auditor General (CAG) of India.
The accounts of WBHDCL are also subjected to supplementary audit of CAG under section 619(3) of Companies Act. The audit reports have shown that books of accounts of WBHDCL express a true and fair view of the state of affairs of the company.