v) Others » Determining procedures for risk assessment and minimisation, and reviewing them periodically to ensure that the Executive Management controls risks through means of a properly defined framework » Evaluating Internal Financial Controls and Risk Management system » Remuneration and terms of appointment of the Auditors and approval for payment for any other services » Scrutinising inter-corporate loans and investments » Carrying out any other function as mentioned in the terms of reference of the Audit Committee 3.1.2 Composition The Committee comprises following Members, all having relevant experience in financial matters: No. Name Designation 1 Sudhir Merchant Chairman 2 Sujal Shah Member 3 Gopi Kannan Thirukonda Member 3.2 Nomination and Remuneration Committee 3.2.1 Role i) Devising a policy on the Board diversity ii) Formulating criteria for evaluation of the Independent Directors and the Board iii) Formulating criteria for determining qualifications, traits and independence of a Director and recommending to the Board a policy relating to the remuneration for the Directors, Key Managerial Personnel and other employees iv) Identifying persons who are qualified to become Directors and who may be appointed in Senior Management in accordance with the criteria laid down, recommending to the Board their appointment and removal and carrying out evaluation of performance of every Director v) Recommending | determining remuneration of the Executive Director as per the Policy 3.1.3 Meetings and attendance During 2017-18, 4 meetings were held. No. Name Total Attended 1 Sudhir Merchant 4 4 2 Sujal Shah 4 4 3 Gopi Kannan Thirukonda 4 4 The Statutory Auditors, the Chairman, the Managing Director, the Chief Financial Officer, the Company Secretary and the Internal Auditors are permanent invitees to the meetings. The Board notes the Minutes of the Audit Committee meetings. 23
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