The Audit Committee is constituted by the Board of Directors of the Company, in accordance with Section 292A of the Companies Act, 1956. It is empowered to review Financial Statements and investments of unlisted subsidiary companies, management discussion and analysis, material individual transactions with related parties not in normal course of business or which are not on an arm’s length basis. Generally all items listed in Clause 49 II D of the Listing Agreement are covered in the term of reference. The committee has been granted powers as prescribed under Clause 49 II C.

The Remuneration Committee is constituted by the Board of Directors of the Company, in accordance with Clause 49 of the Listing Agreement. The terms of reference of the committee include formulating policies on specific remuneration packages for all the directors and designing and implementation of performance appraisal systems and discretionary performance bonus payments for them and such other functions as may be delegated to it by the Board of Director.

The Shareholders/Investor Grievance Committee is constituted by the Board of Directors of the Company, in accordance with Clause 49 of the Listing Agreement. The terms of reference of the committee are to be specifically look into the redressal of shareholders and investors complaints to transfer of shares, non-receipt of balance sheet, non-receipt of dividends. etc.