EDC LIMITED VIGIL MECHANISM POLICY (Pursuant to Section 177 of the Companies Act, 2013) Section 177 of the Companies Act, 2013, read with Rule 7 of the Companies (Meetings of Board and its Powers) Rules 2014 is as below:-
Section 177 (9) – Every listed Company or such class or classes of companies*, as may be prescribed, shall establish a vigil mechanism for directors and employees to report genuine concerns in such manner as may be prescribed.
Section 177 (10) – The vigil mechanism under sub-section (9) shall provide for adequate safeguards against victimization of persons who use such mechanism and make provision for direct access to the chairperson of the Audit Committee in appropriate or exceptional cases: Provided that the details of establishment of such mechanism shall be disclosed by the company on its website, if any, and in the Board’s report. *Rule 7 of the Companies (Meetings of Board and its Powers) Rules, 2014.
