DRIVIN G ROWTH - Dr. Reddy's

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corporate governance
INTERNAL AUDIT
INTERNAL AUDIT AT Dr. Reddy’s is an
independent and objective assurance and
consulting activity aimed to add value to
the Company’s operations. The objective of
the internal audit department is to assist
management in the effective discharge of
their responsibilities by furnishing them
with analysis, appraisals, recommendations
and pertinent comments concerning
activities reviewed.
The vision of the internal audit
department is to facilitate each business in
managing risk and achieving their mission
through sustainable and ethical means. The
scope of the internal audit encompasses the
examination and evaluation of the
adequacy and effectiveness of the
Company’s system of internal accounting,
administrative and organisational controls,
efficiency of operations, evaluation of
various risk profiles, and the quality of
managerial performance in carrying out
assigned responsibilities.
The internal audit department is entirely
independent, and reports directly to the
CEO and the Audit Committee, who
support and facilitate its efficiency and
independence.
INFORMATION TO STAKEHOLDERS
DURING THE YEAR, THE Company
executed a comprehensive disclosure plan
through various means for different
stakeholders— shareholders, suppliers,
customers, employees and society at large.
SHAREHOLDERS
DISCLOSURES REGARDING
appointment and re-appointment of
Directors
Prof Krishna G Palepu and Anupam Puri
have been appointed as Additional Directors
of the Company until the ensuing annual
general meeting on August 26, 2002. Both
these Additional Directors, being eligible,
have offered themselves for election.
Moreover, according to the Articles of
Association of Dr. Reddy’s, at every annual
general meeting of the Company, one-third
of two-thirds of the Board of Directors are
liable to retire by rotation. Thus, P N
Devarajan and Ravi Bhoothalingam shall
retire at the annual general meeting of the
Company and being eligible, have offered
themselves for re-election. Given below are
the abbreviated resumes of the two
Additional Directors seeking election and
the two directors seeking re-election.
Prof Krishna G Palepu was recently
appointed to the Board of Dr Reddy’s as a
DR. REDDY’S LABORATORIES LTD. | CORPORATE GOVERNANCE | ANNUAL REPORT 2001-2002