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COMMITTES OF THE BOARD 

Audit Committee:

The Audit Committee comprises of three directors with independent directors forming a majority. All the members of the Audit Committee are financially literate and have ability to read and understand the financial statement. The Committee currently comprises of:

i.          Shri B. D. Sinha, Non-executive Independent Director– Chairman
ii.         Shri N. Sambasiva Rao, Non-executive Director– Member
iii.        Smt. Shilpi Arora, Non-executive Independent Director– Member

The Audit Committee meets at least once a quarter in such a manner that not more than 120 days shall intervene between two consecutive meetings. The Audit Committee shall function as per the provisions of Section 177, Section 138 and other applicable provisions  of the Companies Act, 2013 read with the Rules as amended from time to time, which shall inter-alia include examination of financial statement and the auditor’s report; scrutiny of inter-corporate loans and investments; approval or any subsequent modification of transactions of the Company with related parties; recommendation for appointment, remuneration and terms of appointment of auditors of the Company; evaluation of internal financial controls and risk management systems etc.

Further, on the recommendation of the Company the Board of Directors has established a vigil mechanism for its directors and employees to report genuine concerns in such manner as may be prescribed. The Vigil Mechanism provide for adequate safeguard against victimization of persons who use such mechanism. 

Click here for Vigil Mechanism Policy of the Company
 

Nomination & Remuneration Committee:

The Nomination and Remuneration Committee comprises of three directors with independent directors forming a majority. The Committee currently comprises of:

i.          Shri N. Sambasiva Rao, Non-executive Director– Chairman
ii.        
Shri B. D. Sinha, Non-executive Independent Director– Member
iii.        Smt. Shilpi Arora, Non-executive Independent Director– Member

The Committee shall meet as and when required. The Committee shall function as per the provisions of Section 178 and other applicable provisions of the Companies Act, 2013 read with the Rules as amended from time to time. On the recommendation of the Committee, the Board of Directors had approved the policy relating to the remuneration for the directors, key managerial personnel and other employees.

Click here for Nomination and Remuneration Policy of the Company
 

Corporate Social Responsibility (CSR) Committee:

The CSR Committee comprises of three members. The Committee currently comprises of

i.          Shri N. Sambasiva Rao, Non-executive Director– Chairman
ii.         MD- KSFL– Member
iii.        Shri B. D. Sinha, Non-executive Independent Director– Member

The Committee shall meet as and when required. The Committee shall function in accordance to the provisions of Section 135 of the Companies Act, 2013 read with the Rules as amended from time to time, which shall inter-alia include review and formulation of a detailed CSR policy, to indicate the activities to be undertaken by the Company as specified in Schedule VII of the Companies Act, 2013 with estimated amount of expenditure. On the recommendation of the Committee, the Board of Directors had approved the policy though the Company has accumulated losses in its books and there is no requirement to incur expenditure on CSR activities till completely set-off of accumulated losses.

Click here for Corporate Social Responsibility (CSR) Policy of the Company

 
 
 

 

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