Amal Ltd 2019-20

33 No. Name Remuneration during the year ( ` ) Sitting fees Salary and perquisites Commission Total 4. S A Shah 1,60,000 - - 1,60,000 5. A R Jadeja 1,70,000 - - 1,70,000 6. S Mahalakshmi 1,60,000 - - 1,60,000 Sitting fees of ` 20,000 per meeting constitute fees paid to the Non-executive Directors for attending Board meetings and ` 10,000 per meeting for attending the Committee meetings. The sitting fees for attending the Audit Committee meeting has been revised from ` 10,000 to ` 20,000 effective October 17, 2019. *Represents lower of 10%of the remuneration paid by Atul Ltd to the Managing Director (being an employee of Atul Ltd) or an amount allowable under Section I or Section II of Part II of the Schedule V of the Companies Act, 2013. Accordingly, an amount of ` 11,44,500 was paid to Atul Ltd for the year 2019-20. 3. Committees of the Board The Board has constituted the following Committees: » Audit Committee » Nomination and Remuneration Committee » Stakeholders Relationship Committee » Corporate Social Responsibility Committee 3.1 Audit Committee 3.1.1 Role i) Approving: » appointment of the Chief Financial Officer » transactions with related parties and subsequent modifications thereof ii) Conducting: » pre-audit discussions with the Auditors regarding nature and scope of the audit and post-audit discussion to ascertain any area of concern » valuation of undertakings or assets, wherever necessary iii) Formulating: » scope, functioning, periodicity and methodology for conducting the internal audit in consultation with the Internal Auditor » Code of Conduct and related matters iv) Reviewing: » adequacy of the Internal Audit function, including the structure of Internal Audit department, staffing and seniority of the official heading the department, reporting structure coverage and frequency of Internal Audit » compliance with the provisions of the SEBI (Prohibition of Insider Trading) Regulations, 2015 at least once in a financial year and verify that the systems for internal control are adequate and are operating effectively