Econo Trade (India) Limited, a company listed on the Bombay Stock Exchange (BSE) and Calcutta Stock Exchange (CSE), recently conducted its Independent Directors Meeting on March 29, 2025. The purpose of this meeting was to evaluate the performance of the board, assess the Chairman’s effectiveness, and ensure that the board receives timely and relevant information from the management to perform its duties effectively.

Key Highlights of the Meeting

The Independent Directors Meeting was conducted to comply with the provisions of the Companies Act, 2013 and the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The meeting was held from 12:30 P.M. to 02:20 P.M. on March 29, 2025, during which the following critical points were discussed:

1. Performance Review of Non-Independent Directors and the Board

The independent directors conducted a detailed performance review of Non-Independent Directors and the Board. The objective was to ensure that all directors, including executive and non-executive members, are contributing effectively to the company’s success. The performance review focused on factors such as decision-making quality, strategic guidance, and corporate governance standards followed by the board.

2. Evaluation of the Chairman’s Performance

The Chairman’s performance was reviewed, taking into account the feedback from both the Executive Directors and Non-Executive Directors. The independent directors evaluated the Chairman’s leadership, communication effectiveness, and ability to guide the board in achieving the company’s long-term goals. The review included an assessment of the Chairman’s ability to manage the board, encourage diversity of thought, and promote a culture of transparency and accountability.

3. Assessment of Flow of Information Between Management and the Board

The independent directors also assessed the quality, quantity, and timeliness of information provided by the company’s management to the board. This review was conducted to ensure that the board receives accurate, complete, and timely information necessary for making informed decisions. The evaluation aimed to enhance the communication process between the management and the board, thereby ensuring smooth corporate governance practices.

Meeting Duration and Conclusion

The meeting commenced at 12:30 P.M. and concluded at 02:20 P.M. on March 29, 2025. During this period, the independent directors engaged in a constructive dialogue to assess and improve the board’s overall performance and effectiveness.

Regulatory Compliance and Disclosures

The outcome of the Independent Directors Meeting was communicated to both the Bombay Stock Exchange (BSE) and the Calcutta Stock Exchange (CSE) to comply with regulatory requirements. The company ensured that the information was shared in a timely manner, aligning with the disclosure norms set by SEBI.

Role of Independent Directors in Corporate Governance

Independent Directors play a pivotal role in maintaining the highest standards of corporate governance. Their primary responsibility is to provide an objective perspective on the company’s operations, assess the effectiveness of the management, and ensure that the company adheres to the highest ethical standards. Through periodic reviews and assessments, they ensure that the board functions in the best interests of all stakeholders.

Importance of Board Performance Evaluation

The evaluation of the board’s performance helps identify areas of improvement and strengthens the company’s decision-making process. Regular assessments help foster accountability, transparency, and adherence to best practices, which are essential for long-term business success. The review process conducted by the independent directors ensures that the company remains aligned with its vision and continues to deliver value to its shareholders.

Econo Trade’s Commitment to Governance Excellence

Econo Trade (India) Limited remains committed to maintaining the highest standards of corporate governance and ensuring compliance with all applicable regulations. The company continuously strives to improve its processes, enhance transparency, and strengthen the communication between the management and the board.

Future Outlook

As part of its ongoing efforts to promote good governance practices, Econo Trade India Ltd will continue to conduct regular performance reviews, ensuring that the board remains aligned with the company’s objectives. Moving forward, the company aims to strengthen its corporate governance framework to enhance stakeholder trust and ensure sustainable growth.

Conclusion

The Independent Directors Meeting of Econo Trade (India) Limited on March 29, 2025, focused on enhancing the effectiveness of the board and ensuring that the management provides relevant and timely information. The review of the Chairman’s performance and the overall board assessment were conducted in line with the best corporate governance practices. This proactive approach reflects the company’s dedication to maintaining high standards of transparency, accountability, and excellence in corporate governance.

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