Investor Relations
Corporate Governance
Committees of Board
COMMITTEES:
The various Committees, as required by the Securities Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, have been constituted/ reconstituted amongst members of the Board. The composition of the various committees as on 31.03.2023 is as under:
S. No. | Name of the Committee | Chairman | Members |
1. | Audit Committee | Mr. Krishan Kant | Mr. Chander Mohan Marwah *Mr. Vijay Kumar Nayar |
2. | Stakeholders Relationship Committee | Mr. Krishan Kant | Mr. Chander Mohan Marwah Mrs. Anu Marwah |
3. | Nomination and Remuneration Committee | *Mr. Vijay Kumar Nayar | Mr. Krishan Kant Mrs. Anu Marwah |
However, Mr. Parminder Singh Kalsi having, DIN-10152883, has been appointed as an additional (Non- Executive Independent) Director w.e.f from 18th May, 2023 for a period of 5 years subject to approval of Shareholders of the Company in the ensuing General Meeting.
*Further, Mr. Vijay Kumar Nayar, due to his increased occupancy in other business, has resigned from the Directorship of the Company w.e.f 18th May, 2023.
- Audit Committee
a) In terms of Section 177 of the Companies Act, 2013 and Regulation 18 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Audit Committee should comprise of at least three Directors; where two thirds should be Independent Directors. The Chairperson of the Audit Committee shall be an Independent Director.
b) Composition & Qualification of Audit Committee:
The Composition & Qualification of Audit Committee as on 31.03.2023 are as under:
Name | Category of Directorship | Designation in Audit Committee | Qualification & Experience | Number of Meetings attended |
Mr. Krishan Kant | Independent, Non-Executive Director | Chairman | Graduate, Mr. Krishan Kant has around 36 years of vast experience in purchase and admin department | 4 |
Mr. Chander Mohan Marwah | Promoter, Executive Director | Member | Experience of over 34 years in industry and business. | 3 |
Mr. Vijay Kumar Nayar | Independent, Non-Executive Director | Member | Mr. Vijay Kumar Nayar has varied experience in the field of Purchase Department of Glass Manufacturing Unit and also served as Senior Purchase Manager in the Glass Industry | 4 |
*Mr. Vijay Kumar Nayar has resigned from the position of Non-Executive Independent Director of the Company w.e.f 18th May, 2023.
** Mr. Parminder Singh Kalsi has been appointed as an Additional Director (Non- Executive Independent) of the Company w.e.f 18th May, 2023.
c.) Meetings of Audit Committee
During the financial year 2022-23, 4 (four) meetings of Audit Committee were held as under:
Quarter | Date of Meeting | Number of Members Present | Number of Independent Directors Present |
April 2022- June 2022 | 1) 14.04.2022 | 03 | 02 |
July 2022- September 2022 | 2) 12.08.2022 | 02 | 02 |
October 2022- December 2022 | 3) 04.11.2022 | 03 | 02 |
January 2023- March 2023 | 4) 23.01.2023 | 03 | 02 |
2. Nomination and Remuneration Committee
Your Company has constituted a Remuneration Committee which has been reconstituted and renamed as Nomination and Remuneration Committee. The Nomination and Remuneration Committee should comprise at least three Directors; all of whom should be Non-Executive Directors. At least half of the Committee members should be Independent with an Independent Directors acting as the Chairman of the Committee. The Company Secretary acts a Company Secretary of the Committee.
a) The Composition of Nomination and Remuneration Committee as on 31.03.2023:
Name of Member | Designation | Category |
Mr. Vijay Kumar Nayar | Chairperson | Independent, Non-Executive |
Mr. Krishan Kant | Member | Independent, Non-Executive |
Mrs. Anu Marwah | Member | Promoter, Non-Executive |
*Mr. Vijay Kumar Nayar has resigned from the position of Non-Executive Independent Director of the Company w.e.f 18th May, 2023.
** Mr. Parminder Singh Kalsi has been appointed as an Additional Director (Non- Executive Independent) of the Company w.e.f 18th May, 2023.
b) Meeting Details
During the Year, the Nomination and Remuneration Committee met 2(two) time. The details of meeting and attendance are:
Quarter of meeting | Date of Meeting | Number of Members Present | Number of Independent Directors Present |
April 2022- June 2022 | 11.04.2022 | 03 | 02 |
July 2022- September 2022 | – | – | – |
October 2022- December 2022 | – | – | – |
January 2023- March 2023 | 28.03.2023 | 03 | 02 |
c) Particulars of Directors’ Remuneration during the financial year 2022-23:
No remuneration was paid to any of the Directors of the Company during the year 2022-23.
3. Stakeholders’ Relationship Committee
Your Company has constituted a Stakeholder Relationship Committee in terms of reference and compliance with the provisions of the Securities Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.
a) The Composition of Stakeholder’s Relationship Committee as on 31.03.2023:
Name of Member | Designation | Category |
Mr. Krishan Kant | Chairperson | Independent, Non-Executive |
Mr. C.M. Marwah | Member | Promoter, Executive |
Mrs. Anu Marwah | Member | Promoter, Non-Executive |
b) Meeting details
Quarter of Meeting | Date of Meeting | Number of Members Present | Number of Inde. Directors Present |
April 2022- June 2022 | 1) 11.04.2022 | 03 | 01 |
July 2022- September 2022 | – | – | – |
October 2022- December 2022 | 2) 08.10.2022 | 03 | 01 |
January 2023- March 2023 | 3) 16.01.2023 | 03 | 01 |
| 4) 15.03.2023 | 03 | 01 |