Risk Management Committee

(i) Composition

The Company has a duly constituted a Risk Management Committee in Compliance with the Listing Regulations to monitor and review the Risk Management Framework of the Company and the same is periodically reviewed by the Board of Directors of the Company.

The Risk Management Committee comprises of the following Directors as on March 31, 2020:

(ii) Terms of Reference

In accordance with the provisions of the Listing Regulations, the terms of reference for the Risk Management Committee of Directors are as under:

1. To ensure that appropriate methodology, processes and systems are in place to monitor, evaluate and report risks associated with the business of the Company.

2. To review adequacy of the existing measures to mitigate risks covering various functions of the Company;

3. To evaluate and approve mitigation measures that may be recommended by the Risk Manager(s) in respect of any function and review the action taken for its implementation on an on-going basis;

4. To review and recommend to the Board, amendment of any of the provisions of the Risk Management Framework;

5. Monitoring and reviewing the Risk Mitigation Plan related to cyber security; and

6. Such other terms as may be required under the Listing Regulations.

(iii) Meetings and Attendance thereat

Two (2) meetings of the Risk Management Committee were held during the Financial Year 2019-20 on April 29, 2019 and October 7, 2019.

The attendance at the Risk Management Committee meetings held during Financial Year 2019-20 was as under: