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Audit Committee
Composition and Independence
The Audit Committee is composed of independent and qualified members with strong financial expertise. The committee members are Sunderlal Bothra, Lubdha Porwal, and Aditya Kumar Saran. Lubdha Porwal serves as the committee's Chairperson.
Sunderlal Bothra
Managing Director
Lubdha Porwal
Independent Director
Aditya Sukharam Saran
Independent Director
Responsibilities and Functions
Operating under a formal charter approved by the Board of Directors, the committee's key responsibilities and functions include:
Financial Reporting and Disclosure: The committee ensures the accuracy and integrity of all financial reporting. It reviews financial statements, significant accounting policies, and disclosure practices, working closely with internal and external auditors to address any material issues.
Internal Controls and Risk Management: We evaluate the effectiveness of the company’s internal control systems. The committee reviews the risk management framework and assesses how key business risks are identified, evaluated, and mitigated. External Audit
Oversight: The committee oversees the external audit process to ensure the auditor's independence, objectivity, and quality of work. It reviews the audit's scope, plans, and findings, and assesses the external auditor's performance to recommend their appointment or reappointment to the Board.
Compliance and Legal Matters: The committee reviews the company's adherence to applicable laws, regulations, and corporate governance requirements. It monitors systems designed to detect and prevent fraud and ensures a robust framework is in place for handling whistleblowing complaints.
Internal Audit Function: The committee oversees the internal audit function, reviewing its plan, assessing its resources, and evaluating its overall effectiveness. We encourage coordination between the internal and external auditors to enhance audit coverage and efficiency.
Stakeholder Communication: The committee facilitates effective communication between the Board, management, auditors, and other stakeholders. We ensure that all relevant financial and audit-related information is communicated in a timely and accurate manner.
Powers of Audit Committee
To investigate any activity within its terms of reference
To seek information from any employee
To obtain outside legal or other professional advice
To secure attendance of outsiders with relevant expertise, if it considers necessary.
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