Page 98 - Kolte Patil AR 2019-20

We further report that,
The Board of Directors of the Company is duly constituted with proper balance of Executive Directors, Non-Executive Directors and Independent Directors. However the constitution of Nomination and Remuneration Committee consisted of two independent directors and an executive director which was reconstituted after the close of financial year with the appointment of non executive director.
Adequate notice is given to all directors to schedule the Board Meetings, agenda and detailed notes on agenda were sent at least seven days in advance, and a system exists for seeking and obtaining furtherinformation and clarifications on the agenda items before the meeting and for meaningful participation at the meeting at the meeting Further, in the incidences where, for the purpose of any Board or Committee Meeting, notice, agenda or notes to agenda are circulated with shorter period of less than seven days, all the
Place: Pune
Date: June 22, 2020
Note: This report is to be read with letter of even date by the Secretarial of this report.
Directors including independent Director have consented to the shorter period of circulation of the same. All decisions at Board Meetings and Committee Meetings are carried out unanimously as recorded in the minutes of the meetings of the Board of Directors or Committees of the Board, as the case may be.
We further report that there are adequate systems and processes in the company commensurate with the size and operations of the company to monitor and ensure compliance with applicable laws, rules, regulations and guidelines.
We further report thatduring the audit period, there are no specific events / actions having a major bearing on the company’s affairs in pursuance of the above referred laws, rules, regulations, guidelines, standards, etc. referred to above.
For SVD & Associates Company Secretaries
Sridhar G. Mudaliar
Partner FCS No: 6156 C P No: 2664 UDIN: F006156B000362072
Auditors, which is annexed as Annexure A and forms an integral part
96 | Kolte-Patil Developers Limited