Three key managerial personnel authorised to decide materiality of events for exchange disclosure
Bonfiglioli Transmissions has named the Key Managerial Personnel who are authorised to decide whether an event or information is "material" and therefore needs to be disclosed to the stock exchanges.
By ScoutQuest · · 1 min read
- Authorised KMP - Managing Director
- Mr. Kennady V Kaippally, Managing Director
- Authorised KMP - Whole Time Director & CFO
- Mr. Gatham Anandhan Balaji, Whole Time Director and Chief Financial Officer
- Authorised KMP - Company Secretary & Compliance Officer
- Mr. Sunil Kumar, Company Secretary and Compliance Officer
Who decides what counts as "material"
The update sets out which officials of Bonfiglioli Transmissions are empowered to judge whether an event or information is material and must be reported to the stock exchanges. The company says three Key Managerial Personnel hold this authority, and that they are "severally" authorised.
- Mr. Kennady V Kaippally, Managing Director
- Mr. Gatham Anandhan Balaji, Whole Time Director and Chief Financial Officer
- Mr. Sunil Kumar, Company Secretary and Compliance Officer
What "severally authorised" means
It means any one of the three can decide on the materiality of an event on their own. They do not need to sit together or wait for a joint sign-off. In practice, this keeps the disclosure process from stalling when one of them is unavailable.
What "materiality" means
Listed companies must promptly inform the exchanges about events that could affect an investor's decision — things such as large orders, major capex, leadership changes or legal developments. Not every development qualifies, so a company adopts a policy that sets out who judges this and how. This update identifies those decision-makers by name and designation.
What it tells an investor
This is a routine governance disclosure about internal responsibility for disclosure, not an update on orders, earnings, capacity or strategy. It does give the reader a named point of contact for the company's disclosure process, which is useful if you ever need to follow up on an announcement.
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