29 • with the Internal Auditors any significant findings and follow-up thereon, including findings of any internal investigations into matters where there is suspected fraud or irregularity or failure of the internal control systems of material nature and reporting such matters to the Board • with the Management the statement of uses | applications of funds raised through an issue (public issue, rights issue, preferential issue, etc), the statement of funds utilised for the purposes other than those stated and the report submitted by the monitoring agency, monitoring the utilisation of proceed of such issue v) Others: • Consider and comment on the rationale, cost-benefits and impact of schemes involving merger, demerger, amalgamation, etc on the Company and the shareholders • 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 • 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 2022-23, 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 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 Corporate Social Responsibility Committee 3.2.1 Role i) Formulating and recommending the Corporate Social Responsibility (CSR) Policy to the Board ii) Formulating and recommending to the Board, the annual action plan, which must include: a) the list of CSR projects or programs that are to be undertaken
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