The Board of Directors and the Management of Dutch Lanka Trailer Manufacturers Ltd are committed to the enhancement of stakeholders value, through sound business decision, prudent financial management and high standards of ethics throughout the organization.
As part of the growth strategy, DLT adopts policies benchmarked against best practices globally followed in the area of Corporate Governance. Emphasis is on full transpparency and accountability in all its transactions, in order to protect the interest of its stakeholders.
The board considers as a trustee of its shareholders and acknowledges its responsibilities towards them for creation and safe guarding of their wealth.
The Company has a non-executive chairman and four directors on board, including one independent director.
The board meets regularly, atleast once in a quarter. At each meeting the board reviews status of compliances of all laws applicable to the company. Information as required by all statutory bodies furnished to the board at each meeting.
TATA code of conduct (Posted on Web site) is applicable to the executive director and Senior Management personnel and executives of the company.
The Audit committee of the board reviews the report of Internal Auditors to the company; discuss the same with statutory auditors to discuss their findings, suggestions and other related matters. And to review weaknesses in internal controls reported by the internal and statutory auditors. The Audit Committee also mandatorily reviews the information prescribed by all statutory bodies
The Non-Executive Directors are paid remuneration by way of sitting fees in terms of shareholders approval obtained in Annual General Meeting held each year.
The Dutch Lanka Engineering Pvt Ltd and Dutch Lanka Trailers LLC Oman are subsidiaries of Dutch Lanka Trailer Manufacturers Ltd. Tata International DLT (Pvt) Limited (TILDLT) Is a joint venture between Tata International Limited (India) and Dutch Lanka Trailer Manufacturers Ltd (SriLanka) and Trailers are marketed in India under the brand name "TATA DLT".
The Audit Committee also reviews the financial statements of the subsidiary companies. The board and the Audit Committee periodically reviews investment made by the company's subsidiaries.
The minutes of the subsidiary companies are placed before Board of Directors of the company and the attention of the Directors is drawn to all significant transactions and arrangements entered into by subsidiary companies.
Annual General Meeting and Extraordinary General Meetings are held as stipulated in Companies Act of Sri Lanka as needed.
The CEO, COO, CFO submit certification to Board of Directors for every Board Meeting on statutory Compliances and on other requirements as directed by the Board of Directors.
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