Committees

Committees of the Board

The Board of Directors of the Company has constituted three Committees viz, Audit Committee, Nomination & Remuneration Committee and Stakeholders’ Relationship Committee. The minutes of the Committee Meetings are noted by the Board. The role and composition of the aforesaid Committees, including the number of meetings held and the related attendance of the members are given below:

Audit Committee

The Committee acts as a link between the management, auditors and the Board of Directors of the Company and has full access to financial information.

The terms of reference of the Audit Committee are as per the guidelines set out in the Listing Regulation with the Stock Exchanges read with Section 177 of the Companies Act, 2013.

As on 31st March, 2018, Audit Committee comprised of Mr. Mahesh Kumar Kejriwal, Non Executive Independent Director, Mr. Jitendra Kumar Goyal, Executive Director and Mr. Vidhu Bhushan Verma, Additional Independent and Non-Executive Director where Mr. Mahesh Kumar Kejriwal is the Chairman of the meeting. All the members of the Committee have accounting or related financial management expertise.

During the year under review, four meetings of the committee were held on 29.05.2017, 14.08.2017, 11.11.2017 and 08.02.2018.The composition of the committee and attendance at its meeting is given below:

Name of the Director Category No. of Meetings Held No. of Meetings Attended
Mr. Mahesh Kumar Kejriwal Chairman Non-Executive Independent Director 4 4
Mr. Jitendra Kumar Goyal Executive Director 4 4
Mr. Vidhu Bhushan Verma Additional Independent and Non-Executive Director 2 2
Mr. Mahesh Kumar Bhalotia* Non-Executive Director 2 2

* Resigned w.e.f 14/11/2017

Ms.Archana Mishra, Company Secretary of the Company acts as the secretary to the Committee.

Function of the committee include :

Nomination and Remuneration Committee

As on 31st March, 2018, the Nomination & Remuneration Committee comprised of 2 Non-Executive Independent Directors. Mr. Mahesh Kumar Kejriwal is the Chairman and Mr. Vidhu Bhushan Verma is the other member of the Committee. All the members of the Committee have accounting or related financial management expertise.

Function of the committee include:

To evaluate, review and recommend to the Board, the remuneration of the Executive Directors, striking a balance between the performance and achievement.

Meeting Details

The Committee held three meetings during the year on 15/07/2017, 11/11/2017 and 08/02/2018 respectively.

In the meeting held on15th July, 2017, the committee took note of resignation of Mr. Rama Kant Mishra from the post of Company Secretary of the Company . The Committee recommended Ms. Archana Mishra for the appointment as Company Secretary, subject to approval in the meeting of the Board of Directors.

In the meeting held on 11th November, 2017, the Committee recommended the appointment of Mr. Vidhu Bhushan Verma for the post of Non Executive Independent Director subject to approval in the meeting of The Board of Directors.

In the meeting held on 08th February, 2018, the Committee took note of the resignation of Mr. Mr. Mahesh Kumar Bhalotia from the post of Non Executive Independent.

Stakeholders Relationship Committee

The committee is headed by Mr. Mahesh Kumar Kejriwal (Non- Executive Independent Director) and Mr. Jitendra Kumar Goyal and Mr. Vidhu Bhushan Verma are the members of the committee. The Committee held one meeting during the year on 08th February, 2018. No Complaint had been received during the year 2017-18. The Company is registered with SEBI under SCORES.