Audit Committee
Audit Committee comprises of following three members out of which two are Non-Executive Independent Directors.
 
1.  CA Vijay Thanawala            Chairman          Independent, Non-Executive Director   
2.  Mr. Prakash Nimbalkar   Member Independent, Non-Executive Director
3. Mr. Shivaji Akhade   Member Managing Director 
 

Mr. Ashish Gupta, Company Secretary of the Company is the secretary to the committee. The terms of reference of the Audit Committee cover the matters specified under SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015 as well as the provisions of Section 177 of the Companies Act, 2013.
 

Vigil Mechanism: The Company has established Vigil Mechanism for Directors and Employees to report genuine concerns. The Mechanism is providing adequate safeguards against victimization of persons who use such mechanism and there is provision for direct access to the Chairperson of the Audit Committee in appropriate or exceptional cases. In case of repeated frivolous complaints being filed by a director or an employee, the audit committee may take suitable action against the concerned director or employee.


Nomination and Remuneration Committee:
Nomination and Remuneration Committee comprises of following three members:
 
1.  CA.Vijay Thanawala               Chairman         Independent, Non-Executive Director
2. Mr.Prakash  Nimbalkar               Chairman              Independent, Non-Executive Director
3. Mr. Amit Goela   Member   Non-Executive Director

The powers and functions of the Nomination and Remuneration Committee cover the matters specified under the provisions of Section 178 of the Companies Act, 2013.


Executive Committee:
 
Executive Committee comprises of following members:
 
1.   Mr.Prakash  Nimbalkar   Chairman   Independent, Non-Executive Director
2.  Mr.Shivaji  Akhade                           Member                  Managing Director
3.  Mr. Sudhir Mungase   Member   Wholetime Director
4. Mr. Umesh Chavan   Member   Chief Executive Officer


To whom certain powers and duties has been delegated by the Board of Directors to oversee certain functions including but not limited to the following functions broadly:

  1. To borrow monies.
  2. To invest the funds of the company.
  3. To grant loans or give guarantee or provide security in respect of loans.
  4. To borrow & avail various credit facilities, loans from banks, financial institutions etc.
  5. To recommend Board to take various decisions on financial commitments, roles etc.
  6. To discuss on the financials and long term planning, strategic planning relating to business and its affairs of the company.
  7. To monitor and control over all units and subsidiary companies operations.
  8. Establishing control & supervision on all departments like production, sales. Purchase, HR, IT, Accounts and finance etc.
  9. Discussions and decisions on purchase/sale of capital assets etc.
  10. Discussions relating to acquisitions/ sale of units/ undertakings, negotiation with parties etc.
  11. Business Developments and decisions to be taken in this respect.
  12. Any other matter which the Board may from time to time deem fit.

Stakeholders Relationship Committee:

The Stakeholders Relationship Committee comprises of following members:
 
1.  Mr.Prakash  Nimbalkar             Chairman            Independent, Non-Executive Director
2. Mr.Vijay Thanawala   Member   Independent, Non-Executive Director
3. Mr. Shivaji Akhade   Member   Managing Director
3. Dr. Jayashree Fadnavis   Member   Independent, Non-Executive Director


This committee specifically looks into the Shareholders’ and Investors’complaints on matters relating to transfer of shares, non-receipt of annual report, non-receipt of dividend etc. In addition, the Committee also looks into matters that can facilitate better investor services and relations and other functions as specified under section 178 of the Companies Act, 2013


Compensation Committee :
Compensation Committee comprises of following members:
 
1.   Mr. Prakash Nimbalkar             Chairman           Independent, Non-Executive Director
2.  CA Vijay Thanawala   Member   Independent, Non-Executive Director
3. Mr. Shivaji Akhade   Member   Managing Director

The purpose of Compensation Committee is to formulate the detailed terms and conditions of Employees Stock Option Scheme (ESOS) including the quantum of option to be granted, the condition for vesting of options, the exercise period, the eligibility criteria etc.
 

Corporate Social Responsibility Committee:
Corporate Social Responsibility Committee comprises of following members:
 
1.  Mr. Prakash  Nimbalkar             Chairman              Independent, Non-Executive Director
2. Mr. Shivaji Akhade   Member   Managing Director 

The powers and functions of the Corporate Social Responsibility Committee cover the matters specified under the provisions of Section 135 of the Companies Act, 2013 and rules made thereunder.