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AUDIT COMMITTEE:-

The Audit Committee seeks to ensure both corporate governance and provides assistance to the Board of Directors in fulfilling the Boardís overall responsibility.

TERMS OF REFERENCE:

  • The recommendation for appointment, remuneration and terms of appointment of auditors of the company
  • Review and monitor the auditorís independence and performance, and effectiveness of audit process
  • Examination of the financial statement and the auditorís report thereon;
  • Approval or any subsequent modification of transactions of the company with related parties;
  • Scrutiny of inter-corporate loans and investments;
  • Valuation of undertakings or assets of the company, wherever it is necessary;
  • Evaluation of internal financial controls and risk management systems;
  • Evaluation of internal financial controls and risk management systems;

The Audit Committee of the Company inter-alia acts as a control mechanism in the financial and other important departments of the Company. The terms of reference of the Audit Committee are in accordance with paragraphs C and D of Clause 49 (III) of the Listing Agreement and section 177(4) of Companies Act, 2013 as specified by the Board of Directors of the Company

The Audit Committee while reviewing the Annual Financial Statements also reviews the applicability of various Accounting Standards (AS) issued by the Institute of Chartered Accountants of India during the year.

COMPOSITION:

The Audit Committee comprises of three Directors, all of whom are Independent Directors. The Chairman of the Audit Committee possesses knowledge by corporate finance, accounts and company law..

Composition of the Audit Committee:

Sr. No. NAME OF DIRECTOR CATEGORY
1 Rajdeep Ghiya Chairman
2 Rajneesh Chindalia Member
3 Devendra Palod Member


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