Atul Ltd 2018-19

» 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 » utillisation of loans | advances from the holding company to the subsidiary company or investments by the ĺūŕēĿŠij ČūŞƎîŠǋ ĿŠ ƥĺĚ ƙƭċƙĿēĿîƑǋ ČūŞƎîŠǋ ĚǊČĚĚēĿŠij ` 100 cr or 10% of the asset size of the subsidiary ČūŞƎîŠǋȡ ǅĺĿČĺĚǄĚƑ Ŀƙ ŕūǅĚƑ ĿŠČŕƭēĿŠij ŕūîŠƙ ʈ îēǄîŠČĚƙ ʈ ĿŠǄĚƙƥŞĚŠƥƙ ĚǊĿƙƥĿŠij îƙ ūŠ ƎƑĿŕ Ǧǧȡ ǨǦǧǯ v) Others: Ƚ /ǄîŕƭîƥĿŠij ĿŠƥĚƑŠîŕ ǛŠîŠČĿîŕ ČūŠƥƑūŕƙ îŠē ƑĿƙŒ ŞîŠîijĚŞĚŠƥ ƙǋƙƥĚŞ » 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 ¹ĺĚ ūŞŞĿƥƥĚĚ ČūŞƎƑĿƙĚƙ ƥĺĚ ljūŕŕūǅĿŠij qĚŞċĚƑƙȡ îŕŕ ĺîǄĿŠij ƑĚŕĚǄîŠƥ ĚǊƎĚƑĿĚŠČĚ ĿŠ ǛŠîŠČĿîŕ ŞîƥƥĚƑƙȠ No. Name Designation 1. S S Baijal 1 Chairman 2. B S Mehta 2 Member 3. V S Rangan Member 4. B R Arora Member 5. M M Chitale 3 Member 1 Up to March 31, 2019 | 2 Chairman effective April 01, 2019 | 3 Effective July 20, 2018 3.1.3 Meetings and attendance During 2018-19, four meetings were held. No. Name Total Attended 1. S S Baijal 4 4 2. B S Mehta 4 3 3. V S Rangan 4 4 4. B R Arora 4 4 5. M M Chitale 2 2 The Statutory Auditors, the Cost Auditors, the Chairman and Managing Director, the Whole-time Director and CFO, the Company Secretary, the heads of Finance, Accounts, 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 3.2.1 Role i) Devising a policy on the Board diversity ii) Formulating criteria for evaluation of the Independent Directors and the Board ĿĿĿȴ GūƑŞƭŕîƥĿŠij ČƑĿƥĚƑĿî ljūƑ ēĚƥĚƑŞĿŠĿŠij ƐƭîŕĿǛČîƥĿūŠƙȡ ƥƑîĿƥƙ îŠē ĿŠēĚƎĚŠēĚŠČĚ ūlj î 'ĿƑĚČƥūƑ îŠē ƑĚČūŞŞĚŠēĿŠij ƥū the Board a policy relating to the remuneration for the Directors, Key Managerial Personnel and other employees ĿǄȴ TēĚŠƥĿljǋĿŠij ƎĚƑƙūŠƙ ǅĺū îƑĚ ƐƭîŕĿǛĚē ƥū ċĚČūŞĚ 'ĿƑĚČƥūƑƙ îŠē ǅĺū Şîǋ ċĚ îƎƎūĿŠƥĚē ĿŠ ¬ĚŠĿūƑ qîŠîijĚŞĚŠƥ ĿŠ accordance with the criteria laid down, recommending to the Board their appointment and removal and carrying out evaluation of performance of every Director Ǆȴ ¤ĚČūŞŞĚŠēĿŠij ʈ 'ĚƥĚƑŞĿŠĿŠij ƑĚŞƭŠĚƑîƥĿūŠ ūlj ƥĺĚ /ǊĚČƭƥĿǄĚ 'ĿƑĚČƥūƑƙ ʈ ¬ĚŠĿūƑ qîŠîijĚŞĚŠƥ ¡ĚƑƙūŠŠĚŕ îƙ ƎĚƑ ƥĺĚ policy 71 Corporate Governance Report