Corporate Governance

Tata Company is committed to maintaining the highest standards of corporate governance in its dealing with its various stakeholders. It is an integral part of the Company's core values which include transparency, integrity, honesty and accountability. Your Company follows the philosophy of working towards the creation of wealth by enhancing the value of stakeholders, meeting the needs of customers and employees and the community at large.

The Company attaches great importance to investor relations. With a view to enhance shareholder participation in corporate affairs, the Company follows the policy of keeping its shareholders informed by putting up relevant information on its corporate website www.tatapower.com, by issuing public notices of meetings and informing stock exchanges of new developments.

The Company also lays great stress on risk management and internal controls. The internal audit department reviews the effectiveness of the risk management system and internal controls and the Audit Committee oversees the same.

With a view to ensuring excellence in its functioning, Your Company has adopted the Tata Business Excellence Model for introducing systemic changes in all areas of its functioning. Your Company has also adopted the Tata Code of Conduct which serves as a guide to uphold the highest levels of business ethics. Your Company is in compliance with the conditions of corporate governance stipulated in Clause 49 of the Listing Agreement entered into with the Stock Exchanges.
Tata Code of Conduct

The fountainhead of the corporate governance of the Tata Power Company is the Tata Code of Conduct. The Company is committed to abide by it, in its letter and spirit. And the Company has earned the Tata Brand name by virtue of this commitment. It draws its strength from the five Tata values:

* Integrity
* Understanding
* Excellence
* Unity
* Responsibility

In Tata parlance they stand for –
Integrity

We must conduct Your business fairly, with honesty and transparency. Everything we do must stand the test of public scrutiny.

Understanding

We must be caring, showing respect, compassion and humanity for Your colleagues and customers around the world, and always working for the benefit of India.

Excellence

We must constantly strive to achieve the highest possible standards in Your day-to-day work and in the quality of the goods and services we provide.
Unity

We must work cohesively with Your colleagues across the group and with Your customers and partners around the world, building strong relationships, based on tolerance, understanding and mutual cooperation.

Responsibility

We must continue to be responsible, sensitive to the countries, communities and environments in which we work, always ensuring that what comes from the people goes back to the people many times over.

The name of TATA says it all. It encompasses the lowest common Tata denominator – the way others see the Tata Group.

Trust

Acceptability

Transparency

Accountability

Management Practices

For consistency and faithful implementation of the corporate objectives of Tata Power, the Board has followed certain management practices even prior to the same being made mandatory, viz., Constitution of an Audit Committee, Remuneration Committee, etc.

source:http://www.tatapower.com/aboutus/corporate-governance.aspx