Corporate Governance

Tolani Shipping Company Limited follows the philosophy of Good Corporate Governance in all its management and business dealings.

The Company’s Board represents an optimal mix of professionals with varied knowledge and experience which enable it to discharge its responsibilities and provide effective leadership to the Company’s business. The Board takes major decisions involving policy formulations, strategic business plans, new investments; reviews annual operating and capital expenditure budgets, compliances of statutory/regulatory requirements and major accounting norms and procedures.

The Company has an Audit Committee, Nomination & Remuneration committee, which are headed by Independent Directors. 

The Audit Committee oversees the Company’s financial reporting process and disclosure of its financial information to ensure that the financial statements are correct, sufficient and credible.

The Nomination & Remuneration committee formulate the criteria for determining qualifications, positive attributes and independence of a Director. To recommend to the Board a policy, relating to the remuneration for the Directors, Key Managerial Personnel and other employees.

In addition the Company has other committees of Directors constituted and functioning as required under the provisions of the law.

As part of Corporate Governance, the Company lays greater emphasis on transparency, accountability, timely disclosure of information and strict statutory compliances.