Atul Ltd 40 Annual Report 2023-24 iv) monitoring and reporting mechanism v) details of need and impact assessment c) Indicating reasons to the Board in case the amount of expenditure is less than 2% of the average net profit in a given year. d) Monitoring the CSR Policy from time to time. e) Recommending the amount of expenditure to be incurred on the CSR activities, which may not be less than 2% of the average net profit of the last three years. 3.2.2 Composition, meetings and attendance The Committee comprises the following members. During 2023-24, one meeting was held: No. Name Designation Meeting entitled Meeting attended 1. Shubhalakshmi Panse Chairperson 1 1 2. Sunil Lalbhai Member 1 1 3. Bharathy Mohanan Member 1 1 The Board notes the minutes of the CSR Committee meetings. 3.3. Investment Committee 3.3.1 Role a) Approving capital expenditure proposals exceeding ` 5 cr, but not exceeding ` 25 cr each. b) Recommending to the Board for approval of capital expenditure proposals exceeding ` 25 cr each. c) Recommending to the Board acquisition, disinvestment and divestment proposals. d) Reviewing business strategies. e) Reviewing the progress of the approved projects. 3.3.2 Composition, meetings and attendance The Committee comprises the following members. During 2023-24, two meetings were held: No. Name Designation Meetings entitled Meetings attended 1. Rajendra Shah1 Chairman 1 1 2. Bansi Mehta2 Member - - 3. Susim Datta3 Member 2 1 4. Baldev Arora4 Member 2 2 5. Sunil Lalbhai Member 2 2 6. Shubhalakshmi Panse5 Member 2 2 1up to July 28, 2023 | 2up to May 31, 2023 | 3Chairman effective July 18, 2023 up to March 31, 2024 | 4Chairman effective April 01, 2024 | 5effective June 01, 2023 The Board notes the minutes of the Investment Committee meetings. 3.4. Nomination and Remuneration Committee 3.4.1 Role a) Devising a policy on Board diversity. b) Evaluate the balance of skills, knowledge and experience on the Board and on the basis of such evaluation, prepare a description of the role and capabilities required of an Independent Director. c) Formulating criteria for evaluation of the Independent Directors and the Board. d) Formulating criteria for determining qualifications, traits and independence of a Director and recommending to the Board a policy relating to the remuneration for the Directors, Key Managerial Personnel and other employees.
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