Gillette_India_Limited_AR_20

Annual Report 2019-20 52 Gillette India Limited The attendance of the members of the Audit Committee during Financial Year 2019-2020 is as under: Members of the Committee Designation Category No. of meetings held during tenure & No. of meetings attended Mr. Chittranjan Dua Chairman NED/ID 4 3 # Mr. Bansidhar S. Mehta @ Member NED/ID 4 4 Mr. Gurcharan Das Member NED/ID 4 4 Mr. Anil Kumar Gupta Member NED/ID 4 4 Mr. Narendra P. Sarda $ Member NED/ID 4 4 Mr. Madhusudan Gopalan Member ED 4 4 Mr. Pramod Agarwal * Member NED 3 3 Ms. Anjuly Chib Duggal * Member NED/ID 3 3 NED – Non-Executive Director ID – Independent Director ED – Executive Director & Audit Committee Meeting held on May 7, 2020 was held through video-conference . # Mr. Chittranjan Dua attended the Audit Committee meeting held on August 21, 2019 and November 5, 2019 via video- conferencing. * Mr. Pramod Agarwal and Ms. Anjuly Chib Duggal were inducted as Members of the Audit Committee effective August 22, 2019. @ Mr. Bansidhar S. Mehta shall cease to be a member of the Audit Committee on September 28, 2020. $ Mr. Narendra P. Sarda shall cease to be a member of the Audit Committee on August 28, 2020. The Audit Committee plays the role as is contemplated under Section 177 of the Companies Act, 2013 read with the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The Audit Committee powers include the following: a) to investigate any activity within its terms of reference; b) to seek information from any employee; c) to obtain outside legal or other professional advice; and d) to secure attendance of outsiders with relevant expertise, if it considers necessary. The Audit Committee role includes the following: i. Recommendation for appointment, remuneration and terms of appointment of auditors of the Company; ii. Review and monitor the auditor’s independence and performance, and effectiveness of audit process; iii. Approval or any subsequent modification of transactions of the Company with related parties; iv. Scrutiny of inter-corporate loans and investments; v. Valuation of undertakings or assets of the Company, wherever it is necessary; vi. Evaluation of internal financial controls and risk management systems; vii. Oversight of the Company’s financial reporting process and the disclosure of its financial information to ensure that the financial statement is correct, sufficient and credible; viii. Approval of payment to statutory auditors for any other services rendered by the statutory auditors; ix. Examination and reviewing,with themanagement, the annual financial statements and auditor’s report thereon before submission to the Board for approval, with particular reference to: • Matters required to be included in the Director’s Responsibility Statement to be included in the Board’s report in terms of clause (c) of sub-section 3 of section 134 of the Companies Act, 2013; • Changes, if any, in accounting policies and practices and reasons for the same; • Major accounting entries involving estimates based on the exercise of judgment by management;