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 A CGR 3 rating has been reaffirmed to the corporate governance practices of KEI Industries Limited. This is on the rating scale of CGR 1 to CGR 6 where CGR 1 denotes the highest rating. The rating of CGR 3 implies that in CARE’s opinion, the company has adopted corporate governance practices which would provide its stakeholders adequate level of comfort on the degree of corporate governance.
The rating continues to reflect KEI’s clearly identifiable ownership pattern, well defined organizational structure with initiatives for putting in place succession planning for key top functions, adequate Management Information Systems (MIS) within the company and general compliance with statutory and regulatory requirements. The rating also takes into account the scope for improving the level of strategic oversight by the independent directors in formulation of business goals and policies.
CARE’s Corporate Governance rating (CGR) is an opinion on the relative standing of an entity with regards to adoption of corporate governance practice of an entity. It provides information to stakeholders as to the level of corporate practice of an entity. Click here to download the complete Annual Surveillance on Corporate Governance rating.
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