ARCHIVAL POLICY AND POLICY ON PRESERVATION OF DOCUMENTS
(To be effective from 1st December, 2015)
(As amended on 19th January, 2016)
Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”) imposed certain obligations and disclosure requirements on all the listed entities, one of the common obligation for all the listed entities pursuant to Regulation 9 is to formulate and put in place a policy for preservation of documents.
The Board of Directors of MSP STEEL & POWER LIMITED (the “Company”) is obliged to formulate a policy for “Preservation of Documents” to comply with the requirements of Regulation 9 of the Listing Regulations.
1. Board means “Securities and Exchange Board of India.”
2. Company means MSP STEEL & POWER LIMITED.
3. Documents means all papers, records, files, books etc., and the like as required to be maintained under any law or regulation for the time being in force.
4. Listing Regulations means Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”).
The purpose of this policy is to have a binding framework for the preservation of documents
of the company, as approved by the Board of Directors of the company, which shall classify them in at least two following categories as follows:
•Documents whose preservation shall be permanent in nature(enclosed as Annexure 1) subject to the modifications, amendments, additions, deletions or any changes made therein.
•Documents with preservation period of not less than eight (8) years(enclosed as Annexure 2) after completion of the relevant transactions subject to the modifications, amendments, additions, deletions or any changes made therein.
Provided further that the Company may keep the documents as specified above in electronic mode.
Documents which are to be made available on the Company’s Website amongst Annexure-1 & Annexure-2 as per Compliance of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 will be made available on the website for 5years and thereafter will be archived for 2 years.
AUTHORITY AND RESPONSIBILITY
The respective Departmental Heads of the Company shall be responsible to deal with the records according to the time frame prescribed in the Policy for their preservation.
The Board of Directors may review the Policy from time to time. Any changes made in the policy would be placed before the Board for their approval.
Documents whose preservation shall be permanent in nature
1. Certificate of Incorporation.
2. Memorandum & Articles of Associations.
3. Licenses, Certificates authorization from statutory authorities.
4. Minutes of Meeting of boards & its committees.
5. Minutes of the meeting of the Shareholders.
6. Statutory Registers required under applicable laws.
7. Audited Accounts.
8. All documents filed with Ministry of Corporate Affairs.
9. All documents filed with SEBI/NSE/BSE.
10.Any other document as may be required to be preserved permanently in terms of applicable law(s), maintained and preserved from time to time.
Documents with preservation period of not less than eight years
1.Books of accounts.
2.Accounting and Corporate Tax Records.
3.Employment, Employee & Payroll records.
4.Correspondence with customers & Shareholders.
5.Any other document as may be required to maintain in terms of applicable law(s), maintained and preserved from time to time.