Gillette_India_Limited_AR_20

Annual Report 2019-20 12 Gillette India Limited Details of material related party transaction entered into during the Financial Year 2019-20 are given below: Name of Related Party Procter & Gamble International Operations S.A., Singapore Branch Nature of transaction Import of Finished Goods Amount of transaction during Financial Year 2019-20 ` 269.63 Crores The above transaction was approved by the Shareholders by passing an Ordinary Resolution through Postal Ballot on January 8, 2018. The Promoter shareholders had abstained from voting on the said resolution. All related party transactions entered during the Financial Year were in the ordinary course of business and on arm’s length basis. Accordingly, the disclosure of related party transactions as required under Section 134(3)(h) of the Companies Act, 2013 in Form AOC-2 is not applicable to your Company. LOANS AND GUARANTEES GIVEN AND INVESTMENTS MADE Your Company has not given any loans, guarantees or made any investments during the Financial Year. PUBLIC DEPOSITS Your Company has not accepted any Public Deposits under Chapter V of the Companies Act, 2013, during the Financial Year. PREVENTION OF SEXUAL HARASSMENT AT WORKPLACE As per the requirement of the Sexual Harassment of Women at Workplace (Prevention, Prohibition & Redressal) Act, 2013 (‘Act’) and Rules made thereunder, your Company has constituted Internal Complaints Committee (‘ICC’). During the Financial Year, one complaint with allegation of sexual harassment was filed with the Company. The said complaint was closed during the Financial Year. No complaints were pending as on June 30, 2020. DIRECTORS’ RESPONSIBILITY STATEMENT Pursuant to the requirement under Sections 134(3) (c) of the Companies Act, 2013, with respect to the Directors’ Responsibilities Statement, it is hereby confirmed: i. that in the preparation of the Annual Accounts for the Financial Year ended June 30, 2020, the applicable accounting standards had been followed along with proper explanation relating to material departures; ii. that the Directors had selected such accounting policies and applied them consistently and made judgments and estimates that were reasonable and prudent so as to give a true and fair view of the state of affairs of the Company at the end of the Financial Year and of the profit or loss of the Company for the Financial Year under review; iii. that the Directors had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 2013, for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities; iv. that the Directors had prepared the accounts for the Financial Year ended June 30, 2020, on a “going concern” basis; v. that the Directors had laid down internal financial controls to be followed by the Company and such internal financial controls are adequate and were operating effectively; and vi. that the Directors had devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively. CORPORATE GOVERNANCE A separate report on Corporate Governance along with the Auditors’ Certificate on its compliance is annexed to this Annual Report. NUMBER OF MEETINGS OF BOARD OF DIRECTORS Four (4) meetings of the Board of Directors of the Company were held during the Financial Year. For further details on meetings of the Board of Directors and its Committees, please refer to the Corporate Governance section of the Annual Report.