Tata Metaliks defines Corporate Governance as a mechanism through which companies are governed to enhance their wealth generating capacity through legal, ethical and transparent means. It believes that the Governance Process should ensure that the resources are utilised in the best manner that meets stakeholders' societal expectations vis-à-vis aspiration. The edifice of the Corporate Governance at Tata Metaliks rests on the following basic pillars: -

1. Corporate Sustainable Responsibility,
2. Ethical Code of Conduct,
3. Foster the Culture of Constructive Dissent,
4. Transparency in Reporting and Records,
5. Management is the Trustee of the Shareholders' Capital and not the owner,
6. Political Non - Alignment,
7. Strict Regulatory Compliance,
8. Sustainable Positive EVA,
9. Make a clear distinction between Personal Conveniences and Corporate Resources.

The highest standards of maintaining Corporate Governance are not a matter of mere form but of substance. It is an article of faith, a way of life, an integral part of the company's core values. Tata Metaliks has a board with full knowledge and belief of its fiduciary responsibilities in the widest sense of the term. Its disclosures match, if not go beyond, the best practices instituted by Tata Business Excellence - core values and concepts. The Company believes in transparency and in respecting minority shareholders rights; it relentlessly attempts to maximise shareholders value; and most importantly, it considers itself as trustee of its stakeholders. The Company has further strengthened the Corporate Governance philosophy with the adoption of the Tata Code of Conduct and the requirements of Corporate Governance under revised Clause 49 of the Listing Agreements with the Stock Exchanges. At the core of its Corporate Governance practice is the Board, which oversees management with overriding concern that it serves and protects the long-term interests of all stakeholders of the Company.

Tata Metaliks has its Corporate Governance Policy based on the following parameters as required under Clause 49 of the Listing Agreement with the Stock Exchanges:

• Board Composition,
• Board Meetings,
• Board Committees,
• CEO/CFO Certification,
• Management Review and Responsibility,
• Shareholders' Perception & Information,
• Compliances,
• Risk Management.