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I further report that
the Board of Directors of the Company is duly constituted with proper balance of the Executive Directors
and the Non-executive Directors (Independent and Non-independent). The changes in the composition of the Board that took
place during the period under review were carried out in compliance with the provisions of the Act.
Adequate notice is given to all the Directors to schedule the Board meetings, agenda and detailed notes on agenda were sent at
least 7 days in advance, and a system exists for seeking and obtaining further information and clarifications on the agenda items
before the meeting and for meaningful participation at the meeting.
Majority decision is carried through while the dissenting Members’ views are captured and recorded as part of the Minutes,
wherever required.
I further report that
there are adequate systems and processes in the Company commensurate with the size and operations
of the Company to monitor and ensure compliance with the applicable laws, rules, regulations and guidelines.
I further report that
during the audit period there were no specific events | actions having a major bearing on the affairs
of the Company in pursuance of the above referred laws, rules, regulations, guidelines, standards, etc referred to above more
specifically related to:
i)
Public | Right | Preferential issue of shares | debentures | sweat equity, etc
ii)
Redemption | Buy-back of securities
iii)
Major decisions taken by the Members in pursuance to Section 180 of the Act
iv)
Foreign technical collaborations
Ahmedabad
Name of Practising CS: A C Doshi
May 05, 2017
FCS Number: F3544