Risk Mitigation Plan

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Risk Mitigation Plan – RJC COP 2024

Company NameMahavir Bullion & Refinery Private LimitedPolicy No.MBR/RMP/04
Policy TitleRisk Mitigation PlanRevision Date01/04/2026
Effective Date01/04/2025Review Date01/04/2027
Approved ByBoard of DirectorsApproval Date01/04/2026
Policy OwnerCompliance Officer / Senior ManagementClassificationControlled Document
Applicable StandardRJC COP 2024Next ReviewAnnually
Risk RatingGeneral TreatmentRequired Response
HighImmediate / enhanced mitigationEscalate promptly, define corrective actions, assign senior ownership and monitor to closure.
Medium-HighPrompt mitigationCommunicate risk and required actions; apply enhanced monitoring and defined mitigation timeline.
MediumMitigation with monitoringAgree actions and timeline; continue monitoring and reassess effectiveness.
Low-MediumTolerate with controlsApply proportionate controls and monitor for changes.
LowRoutine monitoringContinue monitoring and maintain contingency arrangements where relevant.
RatingExisting Plan ResponseTimelineEscalation / Outcome
HighPromptly inform the supplier/customer/concerned authority and communicate mitigation steps. No new transaction during the mitigation process.7 daysIf required information/mitigation is not received, strive to terminate future transactions.
Medium-HighInform the counterparty/authority and communicate steps to mitigate the identified risk.14 daysIf not mitigated within the specified timeline, strive to terminate future transactions.
MediumInform the counterparty/authority and communicate steps to mitigate the identified risk.30 daysIf unresolved, extend and jointly mitigate; if still unresolved, seek an alternative solution or discontinue new transactions until satisfactorily mitigated.
Low-MediumMay be tolerated with proportionate control measures and stakeholder engagement.OngoingMonitor and control.
LowGenerally managed through continuous monitoring.OngoingReview operations and contingency plans.
RoleResponsibility
Board of DirectorsProvide oversight, approve the Plan where required and review material risk exposure.
Senior ManagementEnsure resources, approve material mitigation decisions and monitor significant unresolved risks.
Compliance / Risk OwnerMaintain the framework, coordinate risk assessments, monitor mitigation and report/escalate material issues.
Sourcing / ProcurementIdentify supplier and transaction risks, complete required due diligence and implement sourcing-related mitigation.
Operations / RefineryIdentify operational risks, maintain controls and report incidents, deviations and emerging risks.
FinanceIdentify financial/payment risks and support appropriate controls and escalation.
HSE / Security / HRManage risks within their respective control areas and provide evidence for monitoring and review.
All EmployeesReport identified risks, incidents, control failures and concerns through designated channels.
Prepared ByReviewed & Approved By
Compliance OfficerDirector
Rushikesh Rajendra DeshmukhJitendra Panditrao Deshmukh
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