22 of non-payment of declared dividends) and creditors • the Financial Statements, in particular, investments made by unlisted subsidiary companies • following information mandatorily: - appointment, removal and terms of remuneration of the Chief Internal Auditor - Internal Audit Reports relating to weaknesses in the internal control systems - ManagementDiscussionandAnalysis of financial condition and results of operations - management letters | letters of internal control weaknesses issued by the Statutory Auditors - statementof relatedpartytransactions submitted by the Management • with the Management the statement of uses | applications of funds raised through an issue (public issue, rights issue, preferential issue, etc), the statement of funds utilised for the purposes other than those stated v) Others: • Determi n i ng procedures for r i sk assessment and minimisation, and reviewing them periodically to ensure that the Executive Management controls risks throughmeans 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 3.1.3 Meetings and attendance During 2020-21, four 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.
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