28 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. 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 3.2.2 Composition The Committee comprises following Members: No. Name Designation 1. Chairman 2. Member 3. Member 4. Sudhir Merchant Sujal Shah Gopi Kannan Thirukonda Ulrich Hambrecht Member 3.2.3 Meetings and attendance During 2018-19, one meeting was held. No. Name Total Attended 1. 1 1 2. 1 1 3. 1 1 4. Sudhir Merchant Sujal Shah Gopi Kannan Thirukonda Ulrich Hambrecht 1 1 The Board notes the minutes of the Nomination and Remuneration Committee meetings. 3.3 Corporate Social Responsibility Committee 3.3.1 Role i) Formulating and recommending the Corporate Social Responsibility (CSR) Policy to the Board ii) Indicating reasons to the Board in case the amount of expenditure is less than 2% of the average net profit in a given year
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