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Audit
Committee |
Remuneration Committee
The Company’s Audit Committee comprises of one Non-Executive Director and
three independent Directors. The Present members of the Committee are Shri.
Jagdish Varshneya, Shri. Jaydeosinh. J. Rawal, Shri. Ashok Kothary and Shri. G.
Vishwanath . The Chairman of the Committee is Shri. Jagdish Varshneya who has a
wide experience in Finance. The broad terms of reference of the Audit Committee
are as under:
- To review the quarterly, half-yearly and annual financial statements of
the Company.
- To review the company’s financial reporting systems.
- To review the internal control and Audit systems.
- To review the Company’s financial and risk management policies.
The Audit Committee invites the Statutory Auditors, the Internal Auditors,
the financial advisor and also representatives from various departments of the
Company (wherever necessary) to attend the Audit Committee meetings and to
clarify queries raised by the Committee members.
Four Audit Committee meetings were held during the year 2003-04. The dates on
which the said meetings were held are 28th July 2003, 18th August 2003, 30th
October 2003 and 29th January 2004. The attendance of each Audit Committee
member is given below:
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