Board of Directors
Board of Directors

Finance Committee

The Finance Committee is responsible to assist the Board to provide general oversight with regard to the financial affairs of the company : Terms of Reference :
  1. The financial policies of the company are reviewed by the finance committee. risk assessment and minimization procedures, strategies and capital structure, working capital and cash flow management are also taken care of by the finance committee. It is responsible to make reports and recommendations to the Board with respect thereto as it may deem advisable.
  2. Time to time review of entire banking arrangements and cash management.
  3. All powers related to borrowing of money (otherwise than by issue of debentures) is taken care of by the Finance committee. It also takes necessary actions connected therewith including refinancing for optimization of borrowing costs.
  4. Also within its work sphere lays the right to giving of guarantees / issuing letters of comfort / providing securities within the limits that is approved by the Board.
  5. Finance committee decides to borrow monies by way of loan and / or issuing and allotting Bonds / Notes denominated in one or more foreign currencies in international markets, for the purpose of refinancing the existing debt, capital expenditure, general corporate purposes including working capital requirements. Within the limits that have been approved by the Board, it also makes possible strategic investments.
  6. The committee assures performance guarantee by the Company within the limits approved by the Board and provide corporate guarantee.
  7. Appointing the Foreign Banks as agents and opening and operating of investment management accounts with them are also taken care of by the finance committee. It also establishes representative / sales offices in or outside India etc.
  8. It executes all the other function as is mandated by the Board from time to time and / or enforced by any statutory notification, amendment or modification as may be applicable.
  9. Any financial issues related to the company or transaction that the Board considers advisable is to be reviewed by the Finance Committee too.
  10. Delegate authorities from time to time to the Executives / Authorized persons to implement the decisions of the Committee.
  11. It reviews and makes recommendations about changes to the charter of the Committee from time to time.

A meeting of the Finance Committee is duly attended by all the members.

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