Atul Ltd 2013-14

39 xxi) Ensuring compliance of Internal Control Systems 3.1.02 Composition The Committee comprises four Members. All the Members are Independent Directors. The Members have relevant experience in financial matters. Number Name Designation 1 Dr S S Baijal Chairman 2 Mr G S Patel Member 3 Mr B S Mehta Member 4 Mr V S Rangan Member 3.1.03 Meetings and attendance During 2013-14, five meetings were held: Number Name Total Attended 1 Dr S S Baijal 5 5 2 Mr G S Patel 5 5 3 Mr B S Mehta 5 5 4 Mr V S Rangan 5 4 The Statutory Auditors, the Cost Auditors, the Chairman and Managing Director, the President, Finance and Company Secretary, heads of Finance, Accounts, Legal and Secretarial, Costing 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 3.2.01 Role i) Determining on behalf of the Board and the Members, policy of the Company, on remuneration for the Chairman and the Executive Directors ii) Determining the remuneration of the Executive Directors based on individual performance, qualifications, experience, the Company performance and comparable industry practices, among others iii) Identifying persons who are qualified to become Directors (including Executive Directors) and recommending to the Board their appointment and removal 3.2.02 Composition The Committee comprises three Members. All the Members are Independent Directors. Number Name Designation 1 Mr H S Shah Chairman 2 Mr G S Patel Member 3 Dr S S Baijal Member 3.2.03 Meetings and attendance During 2013-14, two meetings were held Number Name Total Attended 1 Mr H S Shah 2 2 2 Mr G S Patel 2 2 3 Dr S S Baijal 2 2