CORPORATE GOVERNANCE FRAMEWORK

Our Manager ensures timely and efficient compliance by implementing robust systems, processes and policies.

Our policies can be accessed here

We believe a firm governance structure plays a pivotal role in managing our business, drive performance and create value responsibly. The various processes, policies and trainings set the foundation for delivering on our ESG priorities and assessing the way forward for the business.

Our Board diversity, training on governance practices and governance-related focus areas are listed and detailed here:

A DIVERSE BOARD

Comprises experts from tax, regulatory, investment banking and other domains

Marked by age diversity

BOARD’S INVOLVEMENT IN STRATEGY AND POLICY FORMULATION

  • Decides the priorities, sets goals and objectives for the management
  • Considers and approves management proposals around strategy, policies and budgets
  • Oversees implementation of the strategy by the management through periodic reviews
  • Considers and approves the business plan and assesses deviations thereof

ENSURING INDEPENDENCE OF THE BOARD

  • 50% of the Governing Board is independent
  • Majority members of all the Committees of the Governing Board including the Chairperson, except the Stakeholders' Relationship Committee, are independent
  • Independent valuer undertakes valuations of all properties on half yearly basis
  • Sponsors and sponsor group are prohibited from voting on related party transactions in which they are interested

ADOPTION OF FAIR ACCOUNTING AND BUSINESS PRACTICES

  • Appointing statutory auditors and internal auditors from the 'Big four accounting firms'
  • Mindspace REIT and Asset SPVs have adopted Related Party Transactions (RPT) policy as per which all RPTs are undertaken at arm’s length and in compliance with applicable laws. These are approved by the Audit committee of Mindspace REIT and disclosed to stock exchanges where units of Mindspace REIT are listed, and to unitholders
  • Detailed quarterly financials prepared and disclosed to stock exchanges