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The Company, during the year,
has not entered into any transactions of material
nature with the Directors that may have any
potential conflict with the interest of the
Company . No penalties, restrictions
have been imposed on the Company
by the Stock Exchanges or SEBI on any matter
related to capital market during the last three
years.
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The Board meets atleast
once in a quarter i.e. atleast four times
in a year, focussing on strategy formulation,
policy and control, delegation of powers
and dealing with specific issues with
a view to maximizing the Company's networth
and value to the shareholders. The Board
considers and reviews the performance
of the company, from time to time, and
has access to all information on the Company.
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To enable better and more
focussed attention on the affairs of the Company,
the Board delegates particular matters to the
committee of the Board set for the purpose.
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In conformity with the Stock
Exchanges listing requirements, the Company
has constituted the Audit Committee consisting
of Mr. Rajendra Chhabra as chairman and Mr.
G.G.Chendwankar and Mr. G.S. Venkatachalam as
members. The terms of reference to the Audit
Committee include the approving and implementing
of audit procedures, reviewing financial statements,
internal audit/internal control systems and
procedures and ensuring timely compliance with
the statutory guidelines. Meetings of the Audit
Committee are scheduled well in advance. The
Committee reviews the reports of statutory auditors
and internal auditors and considers their findings,
suggestion etc. and undertake the necessary
actions thereon.
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Shareholders'
/ Investor Grievances Committee: |
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Shareholders' / Investors
Grievance Committee, consisting of Mr. Yogesh
M. Kothari, Mr. G. G. Chendwankar and Mr. Rajendra Chhabra, considers and
approves transfer and transmission of shares,
issue of duplicate share certificates and all
shares related issues. The Committee specifically
attends the Shareholders' and Investors' complaints
and ensure prompt redressal of their grievances.
In its continued efforts to provide better investor
services, the Company has signed tripartite
agreement with both the Depositories namely
National Securities Depository Ltd. (NSDL) and
Central Depository Services Ltd. (CDSL) to establish
electronic connectivity to provide demat services
to the Company.
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Remuneration Committee: |
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The Remuneration Committee,
consists of Dr.Ambrish Dalal, Chairman,Mr. Rajendra
Chhabra, Mr.G.S.Venkatachalam. The terms of
reference of the Remuneration Committee include
review and recommendation to the board of directors
of the remuneration paid to the directors.
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