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ANNEXURE IB |
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PUNJAB NATIONAL BANK |
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Annexure IB |
| Quarterly
Compliance Report on Corporate Governance |
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Quarter ending: 31.12 2009 |
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Particulars |
Clause of Listing
Agreement |
Compliance
Status Yes/No |
Remarks |
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| I |
Board of Directors |
49 (I) |
Yes |
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| (A) |
Composition of Board |
49(IA) |
Yes |
In case of
PSBs, composition is governed by Banking Companies (A & TU) Act, 1970 |
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| (B) |
Non-Executive
Directors' compensation & disclosures |
49(IB) |
NA |
Compensation not
applicable in case of PSBs. |
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| (C) |
Other provisions as
to Board and Committees |
49 (IC) |
Yes |
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| (D) |
Code of Conduct |
49(ID) |
Yes |
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| II |
Audit Committee |
49(II) |
Yes |
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| (A) |
Qualified &
Independent Audit Committee |
49 (II A) |
Yes |
Governed by RBI
Directives/Listing Agreement |
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| (B) |
Meeting of Audit
Committee |
49 (II B) |
Yes |
-do- |
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| (C) |
Powers of Audit
Committee |
49 (II C) |
Yes |
-do- |
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| (D) |
Role of Audit
Committee |
49 (II D) |
Yes |
-do- |
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| (E) |
Review of Information by Audit
Committee |
49 (II E) |
Yes |
-do- |
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| III |
Subsidiary Companies |
49 (III) |
Yes |
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| IV |
Disclosures |
49 (IV) |
Yes |
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| (A) |
Basis of related
party transactions |
49 (IV A) |
Yes |
Complied with in
the Annual Report |
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| (B) |
Disclosure of
Accounting Treatment |
49 (IV B) |
Yes |
Complied with in
the Annual Report |
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| (C) |
Board Disclosures |
49(IV C) |
Yes |
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| (D) |
Proceeds from
public issues, rights issues, preferential issues etc. |
49 (IV D) |
NA |
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| (E) |
Remuneration of Directors |
49 (IV E) |
NA |
In case of PSBs, remuneration is
fixed by Govt. guidelines. |
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| (F) |
Management |
49 (IV F) |
Yes |
Complied with in
the Annual Report |
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| (G) |
Shareholders |
49(IV G) |
Yes |
Complied with
in the Annual Report |
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| V |
CEO/CFO
Certification |
49(V) |
Yes |
Complied with in the Annual
Report |
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| VI. |
Report on Corporate
Governance |
49(VI) |
Yes |
Complied with
in the Annual Report |
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| VII. |
Compliance |
49(VII) |
Yes |
Complied with in the Annual
Report |
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