The Board has appointed few Committees of its Members some of which are in compliance of the provisions of the Companies Act, 2013 and others are to fulfill the exigencies of the business needs:
The Committee is constituted mainly to ensure that the financial reporting process is in a proper, sufficient and credible manner, recommending the appointment of statutory and internal auditors, reviewing the periodical and annual financial statements, internal control and audit systems, monitoring vigil mechanism laid down by the Board and various functions laid down under the Companies Act/Corporate Governance norms. The Committee comprises of Mr. V. K. Beswal (Chairman), Mr. A. K. Jatia, Mr. Nandan Damani and Mrs. Madhu Dubhashi.
Nomination and Remuneration Committee:
The Committee reviews and determines the Company’s policy regarding remuneration payable to the Managing and Whole-time Directors and other Senior Employees and also recommending the appointment of the Directors on the Board. The Committee comprises of Mr. V. K. Beswal(Chairman), Mr Nandan Damani and Mrs Madhu Dubhashi.
Stakeholders’ Relationship Committee:
The Committee reviews the complaints/grievances of Shareholders/Investors/fixed deposit holders, redressal thereof and correspondence with SEBI. The Committee comprises of Mr. Nandan Damani (Chairman), Mr. A. K. Jatia and Mr. S. K. Bansal.
Investment & Borrowing Committee:
The Committee authorizes making of investments/ICDs and the borrowings from lenders including Banks and other persons within the limits prescribed by the Board/Companies Act. The Committee comprises of Mr. A. K. Jatia and Mr. S. K. Bansal.
Share Transfer Committee:
The Committee deals with the approval of the transfer and transmission of securities of the Company and matters concerned thereto. The Committee comprises of Mr. A. K. Jatia, Mr. S. K. Bansal and Dr. Ashok Kumar.
The Committee is entrusted with the task to evaluate and recommend to the Board the expenditure to be made with the framework of the Companies Act on the CSR activities and take a review thereof. The Committee comprises of Mr.Nandan Damani,Chairman, Mr.V.K.Beswal, Mr.B.K.Khaitan and Mr. S. K. Bansal.