PRIVI SPECIALITY CHEMICALS LIMITED Annual Report 2020-21

18 PRIVI SPECIALITY CHEMICALS LIMITED (Formerly known as Fairchem Speciality Limited) SECRETARIAL AUDITORS AND SECRETARIAL AUDIT REPORT: As required by Section 204 of the Act, read with The Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, the Board has appointed M/s. Rathi & Associates, Company Secretaries, a firm of Company Secretaries in Practice to conduct Secretarial Audit for the Financial Year 2020-21. The Report of the Secretarial Audit for the financial year ended on March 31, 2021 is annexed to this Report. The Board has reviewed the Secretarial Auditor’s Report and is of the opinion that the observations and comments, appearing in the report are self-explanatory and do not call for any further explanation / clarification by the Board in its Report as provided under Section 134 of the Act. COST AUDITORS: As per the Companies (Cost Records and Audit) Rules, 2014 as amended by Companies (Cost Records and Audit) Amendment Rules, 2014, issued by the Central Government, the Company is required to get its cost records maintained by it for the products covered under Chapters 2902, 2903, 2905, 2906, 2907, 2909, 2912, 2914, 2915, 2918, 2926 and 2932 of Sr. No. 18 of table mentioned under Rule 3 (B) – Non-regulated Sectors audited by a Cost Auditor. The Board of Directors has on the recommendation of the Audit Committee appointed M/s Kishore Bhatia & Associates, Cost Accountants as the Cost Auditors of the Company for the financial year 2021-22. Pursuant to the provisions of Section 148 of the Act read with The Companies (Audit and Auditors) Rules 2014, Members are requested to consider the ratification of the remuneration payable to M/s. Kishore Bhatia & Associates. CONFIRMATION OF COMPLIANCE OF SECRETARIAL STANDARDS: During the year under review, the Company has complied with the applicable Secretarial Standards i.e. SS-1 and SS-2, relating to “Meetings of the Board of Directors” and “General Meetings”, respectively, issued by The Institute of Company Secretaries of India (ICSI). VIGIL MECHANISM AND WHISTLEBLOWER POLICY: As required under the Act and SEBI (LODR) Regulations, the Company has put in place a Vigil Mechanism and Whistle Blower Policy to provide a formal mechanism to the Employees so that they can report concerns about unethical behavior, actual or suspected fraud or violation of the Company’s Code of Conduct Policy and SEBI Insider Trading Regulations. Vigil Mechanism and Whistle Blower Policy is uploaded on the Company’s Website at http://www.privi.com/investor-relations/ corporate-governance/company-policies SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION, PROHIBITION AND REDRESSAL) ACT, 2013: The Company has adopted a policy on prevention, prohibition and redressal of sexual harassment at workplace in line with the provisions of the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 and the Rules made thereunder and has complied with the provision relating to the constitution of Internal Complaints Committee. During the year, no complaint of sexual harassment was received by the Company. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, AND FOREIGN EXCHANGE EARNINGS AND OUT GO: A. CONSERVATION OF ENERGY Steps taken or impact on conservation of energy. • Specific consumption: Fresh Water: 20.95% Steam: 5.47% Electricity: 5.92% • Commissioned Vapour Absorption Machines (VAMs) which works on available waste flash steam and hot water for Chilled Water generation. Thus, reducing power consumption to 2.76 kWh on chilling plants against compressor motors of 83.49 kWh. • Steam recovery in CST saves 330.89 kg/day of fuel • Energy audit done through Forbes Marshall and all the recommendations on energy conservation has been implemented.