Amal Ltd | Annual Report 2022-23 applicable accounting standards have been followed and there are no material departures. 16.2 The accounting policies were selected and applied consistently and judgements and estimates thus made were reasonable and prudent so as to give a true and fair view of the state of affairs of the Company at the end of the financial year and of the profit and loss of the Company for that period. 16.3 Proper and sufficient care was taken for the maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities. 16.4 The attached annual accounts for the year ended March 31, 2023, were prepared on a going concern basis. 16.5 Adequate internal financial controls to be followed by the Company were laid down and they were adequate and operating effectively. This is given under para number 08. 16.6 Proper systems were devised to ensure compliance with the provisions of all applicable laws and the same were adequate and operating effectively. 17. Directors 17.1 Appointments | Reappointments | Cessations 17.1.1 According to the Articles of Association of the Company, Mr Gopi Kannan Thirukonda retires by rotation and being eligible, offers himself for reappointment at the AGM scheduled on September 08, 2023. 17.2 Policies on appointment and remuneration 17.2.1 Appointment While recommending appointment of the Directors, the Nomination and Remuneration Committee considers the following factors: i) Qual i f i cat ion: wel l -educated and experienced in senior leadershippositions in industry | profession ii) Traits: positive attributes and qualities iii) Independence: criteria prescribed in Section 149(6) of the Companies Act, 2013 for the Independent Directors, including no pecuniary interest and conflict of interest 17.2.2 Remuneration of the Non-executive Directors i) Sitting fees: up to ` 30,000 for attending a Board, Committee and any other meeting ii) Commission: up to 1% of net profit as may be decided by the Board based on the following factors: a) Membership of committee(s) b) Profit c) Attendance d) Category (Independent or Nonexecutive) 17.2.3 Remuneration of the Managing Director This is given under para number 18.2. 17.3 Criteria and method of annual evaluation 17.3.1 The criteria for evaluation of the performance of i) the Executive Directors, ii) the Non-executive Directors (other than Independent Directors), iii) the Independent Directors, iv) the Chairman, v) the Committees of the Board and vi) the Board as a whole are summarised in the table at the end of the Directors’ Report at page number 10. 17.3.2 The Independent Directors have carried out annual: i) review of the per formance of the Executive Directors ii) review of the per formance of the Non-executive Directors (other than Independent Directors) iii) reviewof theperformanceof theChairman,
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