Generally we complied with Clause 49 of the Listing Agreement. Our Board has an optimum combination of executive and non-executive directors with not less than fifty percent of the board of directors comprising of non-executive independent directors.
Sl | Name of the Director | Category | DIN |
1 | Mr. Nitesh Lodha Ratanchand | Promoter Director cum Compliance Officer | 01748000 |
2 | Satish Jain | Promotor Cum Director | 02078634 |
3 | D.Suresh Jain | Neid* | 01646188 |
4 | Kushal Jain | Neid* | 02744512 |
NEID** - Non Executive Independent Director. **Change in designation from Whole Time Director to Director without remuneration w.e.f 30.05.2011 |
PROFILE OF THE DIRECTORS |
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The Audit Committee comprises of the following Non-Executive Independent Directors; | ||
1 | Mr. D Suresh Jain | - Chairman |
2 | Mr. Kushal Jain | - Member |
3 | Mr. Nitesh R Lodha | - Member |
All the members of the Committee are eminent in their respective fields and financially literate with sufficient accounting or related financial management expertise.
The Committee acts as a link between the management, auditors and the Board of Directors of the Company and has full access to the financial information. The terms of reference of the Audit Committee are in lieu with Clause 49 II(C) and (D) of the Stock Exchange Listing Agreement coinciding with the provisions under Section 292A of the Companies Act, 1956 and inter alia, includes:
The remuneration committee comprises of the following Non-Executive Directors; | ||
1 | Mr. Kushal Jain | - Chairman |
2 | Mr. D Suresh Jain | - Member |
3 | Mr. Nitesh R Lodha | - Member |
The function of the Committee is to prescribe payment of Compensation to Directors by way of salary and other perquisites and sitting fees.
Shareholders’/Investors’ Grievance Committee under the Chairmanship of Independent Non-Executive Director comprises of the following Directors; | ||
1 | 1. Mr. Kushal Jain | - Chairman |
2 | 2. Mr. D Suresh Jain | - Member |
3 | 3. Mr. Nitesh R Lodha | - Member |
The Committee, inter alia, approves issue of duplicate certificates and overseas and reviews all matters connected with the securities transfer. The Committee also looks into redressal of Shareholders’/Investors’ complaints like transfer of shares, non-receipt of Balance Sheet etc. During the year under review the Company has generally processed all the applications within time.