Amal Ltd 2020-21

Amal Ltd | Annual Report 2020-21 » utillisation of loans | advances from the holding company to the subsidiary company or investments by the holding company in the subsidiary company exceeding ` 100 cr or 10% of the asset size of the subsidiary company, whichever is lower v) Others » Evaluating internal financial controls and risk management system » Recommending appointment, 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 the following Members, all having relevant experience in financial matters: No. Name Designation 1. Mahalakshmi Subramanian Chairman 2. Sujal Shah Member 3. Abhay Jadeja Member 3.1.3 Meetings and attendance During 2020-21, four meetings were held. No. Name Total Attended 1. Mahalakshmi Subramanian 4 4 2. Sujal Shah 4 4 3. Abhay Jadeja 4 4 The Statutory Auditors, the Chairman, the Managing Director, the Chief Financial Officer (CFO), the Company Secretary, the head of Finance, Accounts and Internal Audit are permanent invitees to the meetings. The Board notes the minutes of the Audit Committee meetings. 3.2 Nomination and Remuneration Committee 3.2.1 Role i) Devising a policy on the Board diversity ii) Formulating criteria for evaluation of the Independent Directors and the Board iii) Formulating criteria for determining qualifications, traits and independence of a Director and recommending to the Board a policy relating to the remuneration for the Directors, Key Managerial Personnel and other employees iv) Identifying persons who are qualified to become Directors and who may be appointed in Senior Management in accordance with the criteria laid down, recommending to the Board their appointment and removal and carrying out evaluation of performance of every Director v) Recommending | Determining remuneration of the Executive Directors | Senior Management Personnel as per the policy