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Corporate Governance in Godrej Consumer Products Limited
Corporate Governance in Godrej Consumer Products Limited
Corporate Governance in Godrej Consumer Products Limited
GCPL now has a 13-member Board of Directors, including 7 Independent Directors who are
recognised experts with skills in finance, information technology, marketing, and corporate
strategy from a variety of sectors. None of the Independent Directors have ever had any
business dealings with the Godrej Group.
The Independent Directors are given the chance to meet with the Statutory Auditors prior to
the start of the Audit Committee meeting, without the presence of the management team.
[ CITATION Rep21 \l 16393 ]
Few instances where the company did not comply with the right frame of corporate
governance are as follows:
Again in 2013, another dispute happened between the two competing firms. Wipro
Consumer Care and Lighting (WCCL), the producer of the Santoor soap brand, has
recently acquired an injunction from a Hyderabad court against Godrej Consumer
Products' (GCPL) commercial for their soap brand Godrej No 1. Wipro disputed the
commercial, which made broad similarities to "Santoor Soap," on the grounds that it
was unfair, immoral, wrong, and deceptive. The court agreed to Wipro's request and
issued an ad interim injunction prohibiting GCPL from continuing with the
contentious advertising until further rulings are issued. [ CITATION Bus1 \l 16393 ]
6. Voluntary Evaluation
Godrej Consumer Products said that an external rating agency, the Investment
Information and Credit Rating Agency, has conducted a voluntary evaluation of its
Corporate Governance standards (ICRA).
The company has had a Corporate Governance Rating of CGR2+ and a Stakeholder
Value Creation and Governance Rating of SVG1 for numerous years. [ CITATION
Bus2 \l 16393 ]
References
Business Insider. (n.d.). Retrieved from 2. https://www.business-
standard.com/article/markets/godrej-consumer-soars-15-after-appoints-sudhir-sitapati-as-
md-and-ceo-121051200219_1.html