Corporate Governance

Alchemist is committed to upholding the highest standards of ethics and professionalism. It recognises the accountability of the Board which has established various best practises and processes. The committees established under the Board are as follows:

One objective of the committee is to evaluate and approve the investment proposals presented by the management team for the purpose of acquisition. The Asset Acquisition & Resolution Committee ensures that the acquisition is based on sound rationale and all possible contingencies have been evaluated prior to making an Investment.

The other objective of the committee is to evaluate and approve resolution proposals presented by the management team. The Asset Acquisition & Resolution Committee carefully examines restructuring/settlement proposals and communicates any further analysis that the management team needs to conduct. It ensures that the secured assets are sold at a fair price and after due process is followed.
The Management Committee monitors and directs the company to ensure that the management team achieves the goals determined by the committee on a fortnightly basis. The objectives of the committee are as follows:

  • Setting the strategic direction to guide and direct the activities of the organization.
  • Ensuring the effective management of the organization and its activities.
  • Monitoring the activities of the organization to ensure they are in keeping with the founding principles, objects and values.
The objectives of the audit committee are as follows:

  • The recommendation for appointment, remuneration and terms of appointment of auditors of the company.
  • Review and monitor the auditor’s independence and performance, and effectiveness of audit process.
  • Examination of the financial statement and the auditors’ report thereon.
  • Approval or any subsequent modification of transactions of the company with related parties.
  • Scrutiny of inter-corporate loans and investments.
  • Valuation of undertakings or assets of the company, wherever it is necessary.
  • Evaluation of internal financial controls and risk management systems.
  • Monitoring the end use of funds raised through public offers and related matters.
The objectives of the Nomination and remuneration committee are as follows:

  • Identifying persons to be appointed as directors or in the senior management according to the criteria laid down, and make recommendations to the Board for their appointment and removal.
  • Evaluating the performance of directors and Key Management Personnel.
  • Formulating the criteria for determining qualifications, attributes and independence of a director
  • To recommend to the board a policy, relating to the remuneration of the directors, Key Managerial Personnel and other employees.
  • To carry out any other function as is mandated by the Board from time to time and / or enforced by any statutory notification, amendment or modification, as may be applicable.
The objective of this committee is to evaluate and approve the transfer of shares/securities.