Committees of the Board

The Board of Directors of the Company has constituted three Committees viz, Audit Committee, Nomination & Remuneration Committee and Stakeholders’ Relationship Committee. The minutes of the Committee Meetings are noted by the Board. The role and composition of the aforesaid Committees, including the number of meetings held and the related attendance of the members are given below:

Audit Committee

The Committee acts as a link between the management, auditors and the Board of Directors of the Company and has full access to financial information.

The terms of reference of the Audit Committee are as per the guidelines set out in the Listing Regulation with the Stock Exchanges read with Section 177 of the Companies Act, 2013.

As on 31st March, 2016 the Audit Committee comprised of three members Mr. Jitendra Kumar Goyal is the Chairman and Mr. Vidhu Bhushan Verma & Ms. Pooja Agarwalla are the other two members of the Committee. All the members of the Committee have accounting or related financial management expertise.

During the year under review, four meetings of the committee were held on 30.05.2015, 12.08.2015, 13.11.2015 and 08.02.2015.The composition of the committee and attendance at its meeting is given below:

Name of the Director Category No. of Meetings Held No. of Meetings Attended
Mr. Jitendra Kumar Goyal Chairman-Non-Executive Independent Director 4 4
Mr. Vidhu Bhushan Verma Non-Executive Independent Director 4 4
Ms. Pooja Agarwalla Non-Executive Director 2 2

The Functions of the Committee include:

Nomination And Remuneration Committee

As on 31st March, 2016 the Nomination & Remuneration Committee comprised of three Independent Directors. Mr. Jitendra Kumar Goyal is the Chairman and Mr. Vidhu Bhushan Verma & Ms. Pooja Agarwalla are the other two members of the Committee

The Committee held two meetings during the year 9th February, 2016 and 2nd March, 2016. On 2nd March, 2016 the Committee recommended the appointment of Mr Rama Kant Mishra as a Company Secretary. Also in that meeting the committee recommended the appointment of Mr. Pankaj Marda as the Chief Financial officer (CFO) of the Company

Terms Of Reference Of The Committee, Inter Alia, Includes The Following:

Stakeholders Relationship Committee

During the year under review, the Stakeholders Relationship Committee comprised of three Directors, The present Members of the Committee are Mr. Jitendra Kumar Goyal, Chairman, Mr. Vidhu Bhushan Verma and Ms. Pooja Agarwalla

The Committee held one meeting during on 9th February, 2016.

Terms of Reference of the Committee, inter alia, includes the following:

Shares received for transfer are processed promptly, approved by the Committee and ratified at the following Board Meeting.

The Company did not receive any complaint from any shareholder during the year and no complaint was pending as on 31.03.2016.