The Company's philosophy on code of Governance
MVL believes on building long lasting and mutually beneficial relationship based on integrity, ethics and trust in all respect of it's business. Corporate Governance has been a high priority for us both in letter and in spirit. It's commitment to ethical and lawful business conduct is a fundamental shared value of our Board of Directors, senior management personnel and employees and is critical to the Company's success. It,s standards for business conduct provide that we will uphold ethical and legal standards vigorously as we pursue our financial objectives. We believe that good governance brings about sustained corporate growth and long-term benefits for stakeholders.
In line with the nature and size of operations of the Company, the Corporate Governance framework in MVL is based on the following main principles:
- Constitution of Board of Directors of appropriate composition and
balance, comprising of an ideal mix of independent and non
independent directors, all persons with the highest degree of
integrity and professionalism, who discharge their responsibility
in the best interests of the Company.
- Insistence on a complete adherence to a Code of Business
Conduct and Ethics for Directors and Senior Management.
- Ensuring a timely and accurate flow of information at various
organizational levels in general and to the Board and its various committees in particular.
- Independent verification of the Company's financial reporting
systems and safeguarding integrity thereof.
- A sound system of risk management and internal controls with
adequate safeguards and alarm systems.
- Compliance with all applicable laws, rules and regulations, not
only in letter but also in their spirit.
- Fair and equitable treatment of all its stakeholders, including
employees and shareholders.