Page 68 - Kolte Patil AR 2019-20

(1) 28 May 2019,
(2) 06 August 2019,
(3) 07 September 2019,
(4) 11 November 2019,
(5) 07 February 2020.
10. Statutory Auditors
M/s. Deloitte Haskins & Sells LLP (LLP Registration No. AAB-8737, FRN – 117366W/ W-100018), Chartered Accountants, Pune, were appointed as statutory auditors till the Annual General Meeting (AGM) to be held in the year 2023.
11. Contracts or arrangements with related parties
During the year under review, all transactions/arrangements entered by the Company with related parties were in the ordinary course of business and on an arm’s length basis.
The Policy on materiality of related party transactions and dealing with related party transactions as approved by the Board may be accessed on the Company’s website at the link: https://www.koltepatil.com/ assets/uploads/corporate_governance/157190898585109151.pdf
The details of all transactions/arrangement with related party are given in the Note No. 43 in Notes to Accounts forming part of the Audited Standalone Financial Statement.
12. Conservation of energy, technology absorption and foreign exchange earnings and outgo
As the Company is not engaged in the manufacturing activities, the information related to Conservation of energy, technology absorption has not be provided.
The details of Foreign Exchange outgo are as follows:
(C in Lakhs) For Year ended
31 March 2019
- 116 - - - 116
13.Particulars of loans, guarantees and investments
The particulars of loans, guarantees and investments are given in Note No. 5, 9 and 32 in Notes to accounts forming part of the Audited Financial Statements.
14. Extract of the annual return
Pursuant to the provisions of Section 92 read with Rule 12 of the Companies (Management and administration) Rules, 2014, the extract of the annual return in Form No. MGT – 9 as provided in Annexure III form part of the Board’s report.
15. Corporate Social Responsibility (CSR)
In compliance with Section 135 of the Companies Act, 2013 read with the Companies (Corporate Social Responsibility Policy) Rules 2014, the Company has established Corporate Social Responsibility (CSR) Committee and Report on CSR Activities forms part of this Report as Annexure IV.
16. Audit Committee
The Audit Committee of the Company comprises of following members:
Particulars
Salary -
Travelling Expenses
Professional Fees
Advertising Expenses
Purchase of sanitary wares
Total 195
66 | Kolte-Patil Developers Limited
For Year ended 31 March 2020
155 - 40 -
Name of the Member
Mr. Prakash Gurav
Mr. Jayant Pendse
Mr. G L Vishwanath
Mrs. Manasa Vishwanath Mr. Umesh Joshi
Mr. MilInd Kolte
Mr. Vinod Patil, Company Secretary
secretary to the Audit Committee and the Managing Director and the Chief Financial Officer of the Company are permanent invitees to the Audit Committee Meetings.
The Board has accepted all the recommendations of the Audit Committee.
17. Vigil Mechanism for Directors and Employees
The Vigil Mechanism of the Company, which also incorporates a Whistle Blower Policy in Regulation 22 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, includes an Ethics & Compliance Task Force comprising senior executives of the Company. Protected disclosures can be made by a whistle blower through an e-mail, or dedicated telephone line or a letter to the Task Force or to the Chairman of the Audit Committee.
Designation
Chairman Member Member Member Member Member
Category
Independent Director Independent Director Independent Director Independent Director Independent Director Executive Director
of the Company, acts as the