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| Corporate Governance > Audit Committee
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| Mr. Shyam Sundar Mahansaria |
Chairman of the Audit Committee |
| Mr. Vinai Sachdev |
Member of the Audit Committee |
| Mr. Purshottam Dass Sharma |
Member of the Audit Committee |
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Duties and Responsibilities of the Audit Committee
- To review the Company’s financial
reporting process to ensure that it is
accurate and adequate;
- To review the Company’s internal
control system and internal audit system
to ensure that they are suitable and efficient,
to determine internal audit’s independence,
as well as to approve the appointment,
transfer and dismissal of internal audit
team;
- To review the Company’s compliance
with the law on securities and exchange,
the Exchange’s regulations, and
the laws relating to the Company’s
business;
- To consider, select and nominate an
independent person to be the Company’s
auditor, and to propose such person’s
remuneration, as well as to attend a non-management
meeting with the auditor at least once
a year;
- To review the Connected Transactions,
or the transactions that may lead to conflicts
of interests, to ensure that they are
in compliance with the laws and the Exchange’s
regulations and are reasonable and for
the highest benefit of the Company;
- To prepare and to disclose in the Company’s
annual report, an audit committee’s
report which must be signed by the audit
committee’s chairman and consisting
of the following information:
(a) an opinion on
the accuracy, completeness and creditability
of the Company’s financial report,
(b) an opinion on the
adequacy of the Company’s internal
control system,
(c) an opinion on the
compliance with the law on securities
and exchange, the Exchange’s regulations,
or the laws relating to the Company’s
business,
(d) an opinion on the
suitability of an auditor,
(e) an opinion on the
transactions that may lead to conflicts
of interests,
(f) the number of the
audit committee meetings and the attendance
of such meetings by each committee member,
(g) an opinion or overview
comment received by the audit committee
from its performance of duties in accordance
with the charter, and
(h) other transactions
which, according to the audit committee’s
opinion, should be known to the shareholders
and general investors, subject to the
scope of duties and responsibilities
assigned by the Company’s board
of directors; and
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To perform any other act as assigned
by the Company’s board of directors,
with the approval of the audit committee.
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