Community Structure

Corporate Governance – Air Water India Private Limited

Air Water India Private Limited (AWIPL) believes in conducting fair business activities for maximization of enterprise value. The Japanese parent, Air Water Inc. (AWI), has developed strong Internal Control systems over the last nine decades and implemented those systems in AWIPL keeping in mind the local environment & needs. AWIPL has a fully functioning & transparent management structure for appropriate decision making & reporting.

  • Board of Directors
  • Internal Management Reporting
  • Internal Audit Control
  • Accounting Auditors
  • Secretarial and Compliance

Organization Composition

Directors and Board of Directors

Our Board of Directors is comprised of a total 5 members: 1 Managing Director, 1 Wholetime Director and 3 Executive Director. The Composition of board is as per the law and rules under Companies Act, 2013 and Article of Association. The Board makes decisions based on the details and reports as received on important matters related to business execution. The term of office of director is as per the law and rules under the Companies Act’ 2013.

The Board of Directors of the Company, which meets once in every three months or as per the requirement, conduct meetings among the Directors to take decision with respect to important matters and approve the same before execution. No matter without Board of Directors approval gets executed at any level in the Company.

The Company has appointed Internal Auditor as per the provisions and requirement of Companies Act, 2013 and has its own Internal Audit team which conducts audit in accordance with the rules and laws in companion with internal auditor on quarterly basis to preview the appropriateness and adequacy of the Company’s business process. The Internal Auditors also conduct and monitor the operation of internal control systems and reporting methods as being followed inside the company for true & fair financial reporting.

The Company with regards to accounting audits, has appointed BSR & Co. LLP as the statutory auditor and this firm carries out the audit on financial year basis. The Company has appointed M/s Shome & Banerjee as the cost auditor and this firm carries out the cost audit on financial year basis.

The Company has appointed M/s Soumya Dutta & Associates as the tax auditor and this firm carries out the tax audit on financial year basis.

The Company has developed the inhouse compliance system as per the applicable laws and provisions of the Company’s Act, 2013 which looks after the overall Company’s secretarial and compliance related work and report the same to the top management of the Company.

Board of Directors

Number of Directors in Article of Incorporation 2
Term of Director As per the law under Companies Act. 2013
Chairman of the Board Chairperson
Number of Directors 5

Auditors

Internal Audit Team Established
Number of Outside Auditor 4
Governing Law Companies Act, 2013

Internal Control System

The Company had developed internal control system for establishing framework to ensure that execution of work and duties by each department and staff of the Company is as per the governing laws and regulations and Article of Association of the Company. Reporting hierarchy is being followed at each stage of the Company to ensure true & effective flow of information throughout the Company.