55 3.1.3. Meetings and attendance During 2022-23, four meetings were held. No. Name Total Attended 1. Bansi Mehta 4 4 2. Srinivasa Rangan 4 3 3. Baldev Arora 4 4 4. Mukund Chitale 4 4 The Statutory Auditors, the Cost Auditors, the Chairman and Managing Director, the Whole-time Director and Chief Financial Officer (CFO), the Company Secretary, and 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. 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 b) the manner of execution c) the modalities of utilisation of funds and implementation schedules d) monitoring and reporting mechanism e) details of need and impact assessment iii) Indicating reasons to the Board in case the amount of expenditure is less than 2% of the average net profit in a given year. iv) Monitoring the CSR Policy from time to time. v) Recommending the amount of expenditure to be incurred on the CSR activities, which may not be less than 2% of the average net profit of the last three years. 3.2.2. Composition The Committee comprises the following members: No. Name Designation 1. Shubhalakshmi Panse Chairperson 2. Sunil Lalbhai Member 3. Bharathy Mohanan Member 3.2.3. Meetings and attendance During 2022-23, one meeting was held. No. Name Total Attended 1. Shubhalakshmi Panse 1 1 2. Sunil Lalbhai 1 1 3. Bharathy Mohanan 1 1 The Board notes the minutes of the CSR Committee meetings. 3.3. Investment Committee 3.3.1. Role i) Approving capital expenditure proposals exceeding ` 5 cr, but not exceeding ` 25 cr each. ii) Recommending to the Board for approval of capital expenditure proposals exceeding ` 25 cr each. iii) Recommending to the Board acquisition, disinvestment and divestment proposals.
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