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Corporate Identity Serving Diverse Industries Purpose and Values Overview by the Chairman Operational Highlights Financial Analysis Research and Technology
Safety, HealthandEnvironment Serving the Society Directors’ Report Management Discussion andAnalysis
Report on Corporate Governance
Financial Statements
ix)
Reviewing findings of any internal
investigations by the internal Auditors into
matters where there is suspected fraud or
irregularity or a failure of internal control
systems of a material nature and reporting
the matter to the Board
x)
Discussing with the Auditors before the audit
commences regarding nature and scope
of the audit as well as to have post-audit
discussion to ascertain any area of concern
xi)
Reviewing financial and risk management
policies of the Company
xii)
Reviewing reasons for substantial defaults,
if any in the payment to the depositors,
debenture holders, Members (in case of
non-payment of declared dividends) and
creditors
xiii)
Discussing with the Auditors, periodically,
about internal control systems, the scope
of audit including the observations of
the Auditors and review the half-yearly
and annual financial statements before
submission to the Board
xiv)
Ensuring
compliance
of
internal
control systems
xv)
Reviewing functioning of the whistle
blower mechanism
xvi)
Formulating the Code of Conduct and
related matters
xvii)
Periodically reviewing of compliance
reports of all laws applicable to the
Company as well as steps taken to rectify
instances of non-compliances
xviii) Reviewing financial statements, in
particular, the investments made by the
unlisted subsidiary companies
xix)
Reviewing all significant transactions and
arrangements entered into by the unlisted
subsidiary companies
xx)
Determining procedures about the
risk assessment and minimisation and
periodically review to ensure that the
executive management control risks
through means of a properly defined
framework
xxi)
Reviewing uses | applications of
funds raised through public | right |
preference issues by major categories
vis-à-vis the purposes narrated in the offer
document | prospectus | notice
3.1.2. Composition
The Committee comprises of three Members. All the Members are Non-executive and Independent
Directors. The Members have relevant experience in financial matters.
Number
Name
Designation
1
Dr S S Baijal
Chairman
2
Mr G S Patel
Member
3
Mr B S Mehta
Member
3.1.3. Meetings and Attendance
During the year seven meetings were held:
Number
Name
Total
Attended
1
Dr S S Baijal
7
5
2
Mr G S Patel
7
7
3
Mr B S Mehta
7
7