Corporate Governance

Kolte-Patil Group believes that Corporate Governance signifies ethical business behaviour in every sphere and with all constituents. This ethical business behavior can be ingrained in the character of the organization through tradition, value systems and commitment to the later as much as the spirit of laws and regulations. Corporate Governance emerges as the cornerstone of the Kolte-Patil Group's governance philosophy of the trusteeship, transparency, accountability and ethical corporate citizenship.

In our endeavor to adopt the best Corporate Governance and disclosure practices, the Company complies with all the requirements of the SEBI (Listing Obligations Disclosure Requirements) Regulations, 2015.

Board of Directors

The Board of Kolte-Patil Developers Limited comprises of Executive and Independent Director(s) with wide range of skills and expertise.

Composition and category of Directors:

Name of the Director Category Designation
Mr. Rajesh Patil Executive Director Chairman and Managing Director
Mr. Naresh Patil Executive Director Vice-Chairman
Mr. Milind Kolte Executive Director Executive Director
Mrs. Sunita Kolte Non - Executive Director Non - Executive Director
Mrs. Vandana Patil Non - Executive Director Non - Executive Director
Mr. Prakash Gurav Non - Executive Director Independent Director
Mr. G L Vishwanath Non - Executive Director Independent Director
Mr. Jayant Pendse Non - Executive Director Independent Director
Mrs. Manasa Vishwanath Non - Executive Director Independent Director
Mr. Umesh Joshi Non - Executive Director Independent Director
Committees Board of Directors

Audit Committee

The Audit Committee is comprised of 6 members, in which 5 members are independent directors. The Chairman of the Audit Committee is an Independent Director. Mr. Vinod Patil, Company Secretary of the Company acts as the secretary to the Audit Committee. The Managing Director and Chief Financial Officer of the Company are permanent invitees to the Audit Committee Meetings.

a) Composition of Audit Committee:

Name of the Director Designation Category
Mr. Prakash Gurav Chairman Independent Director
Mr. Umesh Joshi Member Independent Director
Mr. Jayant Pendse Member Independent Director
Mr. G L Vishwanath Member Independent Director
Mrs. Manasa Vishwanath Member Independent Director
Mr Milind Kolte Member Executive Director

b) Terms of Reference to Audit Committee:

The Audit Committee is entrusted, inter alia, with the following:

  • Recommending to the Board, the appointment, reappointment and, if required, the removal of statutory auditors, including internal and cost auditors, and fixation of audit fees and other terms of appointment.
  • Reviewing and monitoring the auditors independence and performance and effectiveness of audit process.
  • Examination and reviewing with the management, the quarterly financial results and financial statements and the auditors’ report thereon, before submission to the Board for approval.
  • Approval or any subsequent modification of transactions of the Company with related parties.
  • Scrutiny of inter-corporate loans and investments
  • Valuation of undertakings or assets of the Company, wherever it is necessary
  • Evaluation of internal financial controls and risk management systems and oversight of the Company’s financial reporting process and the disclosure of its financial information to ensure that there exists appropriate internal control over financial reporting
  • Monitoring the end use of funds raised through public offers and related matters
  • Discussion with internal auditors, any significant findings and follow-up thereon
  • Discussion with statutory auditors, before the audit commences, about the nature and scope of audit as well as post audit discussion to ascertain any area of concern.

Nomination And Remuneration Committee:

The Nomination and Remuneration Committee of the Company comprises of 6 members, in which 5 members are Independent Directors. The Chairman of the Nomination and Remuneration Committee is an Independent Director.

a) Composition of Nomination and Remuneration Committee

Name of the Director Designation Category
Mr. Jayant Pendse Chairman Independent Director
Mr. Umesh Joshi Member Independent Director
Mr. Prakash Gurav Member Independent Director
Mr. G L Vishwanath Member Independent Director
Mrs. Manasa Vishwanath Member Independent Director
Mrs Sunita Kolte Member Non-Executive Director

b) Terms of Reference to Nomination and Remuneration Committee

  • To recommend to the Board appointment, re-appointment of Directors, Executive Directors and Key Managerial Personnel and determination, fixation of the remuneration and revision in the remuneration payable to the Executive Directors of the Company and removal of the director/Executive Director/Key Managerial Personnel
  • To formulate the criteria for determining qualifications, positive attributes and independence of the director
  • To recommend the Board the policy related to the remuneration of for Directors, Key Managerial Personnel and other employees
  • To carry out evaluation performance of every Director of the Company
  • To formulate and recommend to the Board of Directors the policy relating to the stock options to the employees, grant the stock options to the eligible employees and review the management of stock option scheme.

Stakeholders Relationship Committee:

The Stakeholders Relationship Committee of the Company comprises of 6 members, in which 5 members are Independent Directors. The Chairman of the Stakeholders Relationship Committee is an Independent Director.

a) Composition of Stakeholders Relationship Committee

Name of the Director Designation Category
Mr. Umesh Joshi Chairman Independent Director
Mr. Jayant Pendse Member Independent Director
Mr. Prakash Gurav Member Independent Director
Mr. G L Vishwanath Member Independent Director
Mrs. Manasa Vishwanath Member Independent Director
Mr. Milind Kolte Member Executive Director

b) Terms of Reference to Stakeholders Relationship Committee

  • Redressal of the investors’ complaints like non-receipt of annual reports, dividend payments, change or deletion of name, issue of duplicate share certificates.
  • Dematerialization, re-materialization, transfer, transmission, consolidation, sub-division of shares, debentures and securities and other allied transactions.
  • Delegation power to the executives of the Company and to the Registrar and Transfer Agent of the Company to accomplish aforesaid objectives.

Corporate Social Responsibility Committee:

The Corporate Social Responsibility Committee of the Company comprises of 6 members, in which 5 members are Independent Directors. The Chairman of the Corporate Social Responsibility Committee is an Independent Director.

a) Composition of Corporate Social Responsibility Committee

Name of the Director Designation Category
Mr. Umesh Joshi Chairman Independent Director
Mr. Jayant Pendse Member Independent Director
Mr. Prakash Gurav Member Independent Director
Mr. G L Vishwanath Member Independent Director
Mrs. Manasa Vishwanath Member Independent Director
Mr. Milind Kolte Member Executive Director

b) Terms of Reference to Corporate Social Responsibility Committee

  • To formulate, including review from time to time, and recommend to the Board, a Corporate Social Responsibility (CSR) Policy indicating activities to be undertaken by the Company in compliance with provisions of the Companies Act, 2013 and rules made there under
  • To recommend the amount of expenditure to be incurred on the CSR activities
  • To monitor the implementation of the framework of the CSR Policy
  • To recommend to the Board approval of CSR expenditure including contribution to corpus for projects/programs related to CSR activities.
Code of Conduct

Code Of Conduct for The Board Of Directors And Senior Management Of The Company:

  • Act in the best interests of, and fulfill their fiduciary obligations to the Company and its shareholders; Act honestly, fairly, ethically and with integrity;
  • Conduct themselves in a professional, courteous and respectful manner and not take improper advantage of their position;
  • Help in creating and maintaining the culture of commitment to compliance with all applicable laws, rules and regulations;
  • Act in good faith, responsibly, with due care, competence and diligence, without allowing their independent judgment to be subordinated;
  • To ensure that assets of the Company are fully protected and put to use for Company's business and to maintain high standards of manufacturing practices to achieve customers' total satisfaction;
  • Not use the Company's property, information, position or opportunities for personal gain;
  • Act in a manner to enhance and maintain the reputation of the Company;
  • Disclose potential conflict of interest that they may have regarding any matters relating to the Company's business, abstain from discussion, voting or otherwise influencing a decision on any matter in which they have or may have a conflict of interest; serving as Director of any Company which is in direct competition with the Company would be conflict of interest and it would be necessary to obtain prior approval of the Board of Directors of the Company before accepting such Directorship;
  • Make available to and share information as may be appropriate to ensure sound and efficient operations of the Company; Maintain confidentiality of information relating to the affairs of the Company acquired in the course of their position in the Company, except when authorized or legally required to disclose such information;
  • Not to use confidential information acquired in the course of their position in the Company for personal advantage or for the advantage of any other entity even after cessation of relationship with the Company;
  • Ensure equal opportunities to employees at all levels, provide congenial working environment in the Company free from any discrimination on grounds of cast, religion, colour, marital status, sex, age and nationality;
  • Ensure to provide safe and healthy working environment and preservation of environment so as to avoid wastage of energy, natural resources and implementation of waste management procedures and preservation of ecological environment;
  • Ensure compliance of Company's Policy on Disclosures and Internal Procedures for Prevention of Insider Trading under SEBI Regulations.

NO RIGHTS CREATED:

This Code of Conduct is a statement of certain values and principles, policies and procedures, etc., governing the Directors / Senior Management of the Company relating to the conduct of the Company's business. It is to be clearly understood that this Code of Conduct is not intended and does not in any way or for any matter whatsoever create any rights or obligations towards any employee, customer, client, supplier, competitor, shareholders or any other persons or entity.

Whistle Blower Policy

Kolte-Patil Developers (KPDL) and its subsidiaries and affiliates constitute a Real Estate Development and Project Management Group. Kolte-Patil Developers adopts accounting policies and practices in accordance with the applicable accounting standards to present a true and fair view of the operations and financial position of the Group. Selection of accounting practices requires interpretation and exercise of judgment, which may give rise to differing opinions.

Employees are free to raise issues, if any, which they may have on the accounting policies and procedures adopted for any area or item and discuss the same with the following:

For employees of KPDL Group

The employees may send communications on an anonymous basis. If an employee chooses to disclose his or her identity, the same will be treated as confidential and the recipient shall not disclose the same. This would not have any impact on the employee’s performance appraisal, assignment of work or other matters related to employment with the group companies.

The employee may send a communication directly to Mr. Rajesh Patil, Chairman and Managing Director or Mr. Naresh Patil, Vice-Chairman, or Mr. Milind Kolte, Executive Director. They will submit all communications received without editing them or attempting to address the issues raised to the Audit Committee of the Board of Directors of Kolte-Patil Developers Ltd. All communications received will be considered at the subsequent Audit Committee meeting.

The Secretarial department of the Kolte-Patil Developers Limited will make available to the Employees, the addresses and email addresses of the members of the respective Audit Committee / Board members.

Mode of communication

Communication may be made in writing through a letter or through email. Employees of KPDL may send their communications to any one of the following members :

Name Mr. Rajesh Patil
Designation Chairman and Managing Director
Address Kolte-Patil Developers Limited 2nd Floor, City Point, Dhole-Patil Road, Pune – 411 001
Email rajesh.patil@koltepatil.com
Name Mr. Naresh Patil
Designation Vice-Chairman
Address Kolte-Patil Developers Limited, 22/11, 1st Floor, Park West, Vittal Malya Road, Bangalore- 560001
Email naresh.patil@koltepatil.com
Name Mr. Milind Kolte
Designation Executive Director
Address Kolte-Patil Developers Limited 2nd Floor, City Point, Dhole-Patil Road, Pune – 411 001
Email milind.kolte@koltepatil.com


  • Policy on Material Subsidaries -   Click to download
  • Policy on Related Party Transaction -   Click to download
  • Policy on Vigil Mechanism -   Click to download
  • Policy on familiarisation Programme of Independent Directors -   Click to download
  • Kolte-Patil Developers Limited CSR Policy  Click to download
  • Policy for determination of materiality of events and/or information  Click to download
  • Policy for preservation and archival of documents  Click to download
  • Policy on diversity of Board  Click to download
  • Awards

    • Realty Plus Excellence Award 2013

    • Award 2011

    • AESA Award 2008