Company Overview Financial Statements Notice Statutory Reports 21 Rudolf Atul Chemicals Ltd | Annual Report 2023-24 3.1.2 Composition, meetings and attendance The Committee comprises the following members, all having relevant experience in financial matters. During 2023-24, four meetings were held: No. Name Designation Meetings entitled Meetings attended 1. Sudhir Merchant Chairman 4 4 2. Sujal Shah Member 4 4 3. Gopi Kannan Thirukonda Member 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. 3.1. Corporate Social Responsibility Committee 3.2.1 Role a) Formulating and recommending the Corporate Social Responsibility (CSR) Policy to the Board. b) Formulating and recommending to the Board the annual action plan, which will include: i) the list of CSR projects or programs that are to be undertaken ii) the manner of execution iii) the modalities of utilisation of funds and implementation schedules iv) monitoring and reporting mechanism v) details of need and impact assessment c) Indicating reasons to the Board in case the amount of expenditure is less than 2% of the average net profit in a given year. d) Monitoring the CSR Policy from time to time. e) Recommending the amount of expenditure to be incurred on the CSR initiatives, which may not be less than 2% of the average net profit of the last three years. 3.2.2 Composition, meetings and attendance The Committee comprises the following members. During 2023-24, one meeting was held: No. Name Designation Meeting entitled Meeting attended 1. Gopi Kannan Thirukonda Chairman 1 1 2. Wolfgang Schumann Member 1 1 3. Sudhir Merchant Member 1 1 3.1. Nomination and Remuneration Committee 3.3.1 Role a) Devising a policy on Board diversity. b) Formulating criteria for determining qualifications, traits and independence of aDirector and recommending to the Board a policy relating to the remuneration for the Directors, key managerial personnel and other employees. c) Formulating criteria for evaluation of the Independent Directors and the Board.
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