Page 141 - KRCL ENglish
P. 141
Sr. No.
Emphasis
of Matter Statutory Auditor's Remarks Management Reply
Para:
Directors to the vacant post on the
Board of KRCL to form proper
composition of Directors on the
KRCL Board.
MoR and respective State
Governments are in process of
nomination of their Directors
including Independent Directors
by GoI through MoR on the Board
of the KRCL.
II. Non Compliance of Section Agreed.
177 (2) and Section 178 (1) of Ministry of Railway's vide its letter
Companies Act, 2013 and No. 2009/PL/50/13/Pt. Dated
R u l e 6 o f C o m p a n i e s 11/07/2019 have nominated 3 nos.
(Meetings of Board and its of Independent Directors on the
Powers) Rules 2014 and Board of the Corporation.
Clause 18 (1) and 19 (1) of Accordingly, Board of Directors of
SEBI Listing Obligation and the Corporation vide its Resolution
Disclosure Requirement b y C i r c u l a t i o n s -
regarding composition of KR/CO/S/Bonds/Resolution by
A u d i t C o m m i t t e e a n d Circulation - 2/2019 Dated
Nominatio and Remuneration 2 2 / 0 8 / 2 0 1 9 a n d
Committee. KR/CO/S/Bonds/Resolution by
Circulation - 3/2019 Dated
22/08/2019 having noted the same
at their 159th Board Meeting held
on 24/10/2019 by re-constituted
the Nomination and Remuneration
Committee (NRC) and Audit
Committee (AC) in accordance
with the provisions of Companies
Act, 2013 and its rules as well as
SEBI (LODR) Regulation. Hence,
after re-constituting of NRC and AC
there was no non-compliance as
brought out.
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