The Company has constituted a qualified independent Audit Committee, which acts as a link between the Management, External and Internal Auditors and the Board of Directors of the Company. The Audit Committee considers the matters which are specifically referred to it by the Board of Directors besides considering the mandatory requirements of the provisions of Section 177 of the Act. The key responsibilities of the Committee include review of the financial statements before submission to the Board, approval or any subsequent modification of transactions with related parties, oversight of the financial reporting process to ensure transparency, sufficiency, recommendation for appointment, remuneration and terms of appointment of auditors of the Company etc. The Committee also reviews the adequacy and effectiveness of internal audit function and control systems.
The Committee is constituted as per the regulatory norms and comprises of the following members:
– Mr. Bobby Kanubhai Parikh, Chairperson
– Dr. Arun Suresh Chandavarkar
– Mr. John Russell Fotheringham Walls
– Mr. Daniel Mark Bradbury