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Secretarial audit report
1. FORMAT OF SECRETARIAL AUDIT REPORT
Secretarial Audit Report
The Board of Directors
Reliance IndustriesLimited
3rd Floor,MakerChambersIV
222 NarimanPoint
Mumbai 400 021
I have conductedthe secretarial auditof the compliance of applicable statutoryprovisionsandthe
adherence togoodcorporate practicesby Reliance IndustriesLimited('the Company').The secretarial
auditwas conductedina mannerthat providedme areasonable basisforevaluatingthe corporate
conducts/ statutorycompliancesandexpressingmyopinionthereon.
Basedon my verificationof the Company'sbooks,papers,minute books,formsandreturnsfiledand
otherrecordsmaintainedbythe Companyandalsothe informationprovidedbythe Company,its
officers,agentsandauthorisedrepresentativesduringthe conductof secretarial audit,Iherebyreport
that inmy opinion,the Companyhas,duringthe auditperiodcoveringthe financial yearendedon
March 31, 2014 compliedwiththe statutoryprovisionslistedhereunderandalsothatthe Companyhas
properBoard-processesandcompliance-mechanisminplace tothe extentandinthe mannerreported
hereinafter.
1. I have examinedthe books,papers,minute books,formsandreturnsfiledandotherrecords
maintainedby the Companyforthe financial yearendedonMarch31, 2014 according to the
provisionsof -
o The CompaniesAct,1956 andthe Rulesmade underthatAct and 98 sectionsof
CompaniesAct,2013 notifiedvideMinistryof Corporate AffairsGazette NotificationNo.
S.O.2754(E) datedSeptember12,2013;
o The SecuritiesContracts(Regulation)Act,1956 ('SCRA') andthe Rulesmade underthat
Act;
o The DepositoriesAct,1996 andthe RegulationsandBye-lawsframedunderthatAct;
2. o The ForeignExchange ManagementAct,1999 andthe RulesandRegulationsmade
underthat Act to the extentapplicable toOverseasDirectInvestment(ODI),Foreign
DirectInvestment(FDI) andExternal Commercial Borrowings(ECB);
o The followingRegulationsandGuidelinesprescribedunderthe SecuritiesandExchange
Board of IndiaAct, 1992 ('SEBI Act'):
The SecuritiesandExchange Boardof India(Substantial Acquisitionof Shares
and Takeovers) Regulations,2011;
The SecuritiesandExchange Boardof India(Prohibitionof InsiderTrading)
Regulations,1992;
The SecuritiesandExchange Boardof India(Employee StockOptionSchemeand
Employee StockPurchase Scheme)Guidelines,1999; and
The SecuritiesandExchange Boardof India(Issue andListingof DebtSecurities)
Regulations,2008.
o The EquityListingAgreementswithBSELimitedandNational StockExchange of India
LimitedandGDR ListingAgreementwithLuxembourgStockExchange andDebtListing
AgreementswithNational StockExchange of IndiaLimitedandBSELimited;and
o The Memorandumand Articlesof Association.
2. I furtherreportthat the Companyhas, inmy opinion,compliedwiththe provisionsof the
CompaniesAct,1956 and the Rulesmade underthatAct and 98 sectionsof CompaniesAct,
2013 notifiedvideMinistryof Corporate AffairsGazette NotificationNo.S.O.2754(E) dated
September12,2013 ("the Act") and the MemorandumandArticlesof Associationof the
Company,withregardto:
o (a) maintenance of variousstatutoryregistersanddocumentsandmakingnecessary
entriestherein;
o (b) closure of the Registerof Members/Debenture holders;
o (c) forms,returns,documentsandresolutionsrequiredtobe filedwiththe Registrarof
Companiesandthe Central Government;
o (d) service of documentsbythe CompanyonitsMembers,Debenture holders,
Debenture Trustees,Auditorsandthe Registrarof Companies;
o (e) notice of BoardmeetingsandCommittee meetingsof Directors;
o (f) the meetingsof DirectorsandCommitteesof Directorsincludingpassingof
resolutionsbycirculation;
3. o (g) the 39th Annual General MeetingheldonJune 06,2013;
o (h) minutesof proceedingsof General Meetingsandof the Board and itsCommittee
meetings;
o (i) approvalsof the Members,the Boardof Directors,the Committeesof Directorsand
the governmentauthorities,whereverrequired;
o (j) constitutionof the Boardof Directors/ Committee(s) of Directors,appointment,
retirementandre-appointmentof Directorsincludingthe ManagingDirectorand
Whole-timeDirectors;
o (k) paymentof remunerationtoDirectorsincludingthe ManagingDirectorandWhole-
time Directors;
o (l) appointmentandremunerationof AuditorsandCostAuditors;
o (m) transfersandtransmissionsof the Company'ssharesanddebentures,andissue and
dispatchof duplicate certificatesof shares;
o (n) paymentof interest ondebenturesandredemptionof debentures;
o (o) declarationandpaymentof dividends;
o (p) transferof certainamountsas requiredunderthe Actto the InvestorEducationand
ProtectionFundanduploadingof detailsof unpaidandunclaimeddividendsonthe
websitesof the Companyandthe Ministryof Corporate Affairs;
o (q) borrowingsandregistration,modificationandsatisfactionof chargeswherever
applicable;
o (r) investmentof the Company'sfundsincludinginter-corporate loansandinvestments
and loansto others;
o (s) givingguaranteesinconnectionwithloanstakenbysubsidiaries;
o (t) form of balance sheetasprescribedunderPartI,form of statementof profitandloss
as prescribedunderPartIIand General Instructionsforpreparationof the same as
prescribedinScheduleVItothe Act;
o (u) allotmentof equitysharesof the CompanypursuanttoEmployeesStockOption
Scheme;
o (v) Directors'report;
o (w) contracts,commonseal,registeredoffice andpublicationof name of the Company;
and
4. o (x) generally,all otherapplicable provisionsof the Actandthe Rulesmade underthe
Act.
3. I furtherreportthat:
o (a) the Directorshave compliedwiththe requirementsastodisclosure of interestsand
concernsincontracts and arrangements,shareholdings/debenture holdingsand
directorshipsinothercompaniesandinterestsinotherentities;
o (b) the Directorshave compliedwiththe disclosure requirementsinrespectof their
eligibilityof appointment,theirbeingindependentandcompliance withthe Code of
Business Conduct&Ethicsfor Directorsand ManagementPersonnel;
o (c) the Companyhasobtainedall necessaryapprovalsunderthe variousprovisionsof
the Act; and
o (d) there wasno prosecutioninitiatedandnofinesorpenaltieswereimposedduring
the year underreviewunderthe Act,SEBI Act,SCRA,DepositoriesAct,Listing
AgreementandRules,RegulationsandGuidelinesframedunderthese Actsagainst/on
the Company,its Directorsand Officers.
4. The Companyhascompliedwiththe provisionsof the SecuritiesContracts(Regulation) Act,
1956 and the Rulesmade underthatAct, withregardto maintenance of minimumpublic
shareholding.
5. I furtherreportthat the Companyhas compliedwiththe provisionsof the DepositoriesAct,
1996 and the Bye-lawsframedthereunderbythe Depositorieswithregardtodematerialisation
/ rematerialisationof securitiesandreconciliationof recordsof dematerialisedsecuritieswithall
securitiesissuedbythe Company.
6. The Companyhascompliedwiththe provisionsof the FEMA,1999 and the Rulesand
Regulationsmade underthatActto the extentapplicable toODI,FDIand ECB.
7. I furtherreportthat:
o (a) the Companyhas compliedwiththe requirementsunderthe EquityListing
AgreementsenteredintowithBSELimitedandNational StockExchange of IndiaLimited
and GDR ListingAgreementwithLuxembourgStockExchange andthe DebtListing
AgreementswithNational StockExchange of IndiaLimitedandBSELimited;
o (b) the Companyhas compliedwiththe provisionsof the SecuritiesandExchange Board
of India(SubstantialAcquisitionof SharesandTakeovers) Regulations,2011 including
the provisionswithregardtodisclosuresandmaintenance of recordsrequiredunder
the saidRegulations;
5. o (c) the Companyhascompliedwiththe provisionsof the SecuritiesandExchange Board
of India(Prohibitionof InsiderTrading) Regulations,1992 includingthe provisionswith
regardto disclosuresandmaintenance of recordsrequiredunderthe saidRegulations;
o (d) the Companyhas compliedwiththe provisionsof the SecuritiesandExchange Board
of India(Employee StockOptionSchemeandEmployeeStockPurchase Scheme)
Guidelines,1999 withregardto implementationof EmployeeStockOptionScheme;and
o (e) the Companyhascompliedwiththe provisionsof the SecuritiesandExchange Board
of India(Issue andListingof DebtSecurities) Regulations,2008.
8. I furtherreportthat basedon the informationreceivedandrecordsmaintainedthereare
adequate systemsandprocessesinthe Companycommensurate withthe size andoperationsof
the Companyto monitorandensure compliance withapplicable laws,rules,regulationsand
guidelines.
Dr K R Chandratre
PractisingCompanySecretary
Certificate of Practice No.5144
April 18, 2014