PRIVI SPECIALITY CHEMICALS LIMITED Annual Report 2020-21

58 PRIVI SPECIALITY CHEMICALS LIMITED (Formerly known as Fairchem Speciality Limited) 6. Management Committee During the year, the Management Committee was re-constituted at the Board Meeting held on August 17, 2020 wherein Mr. Mahesh P. Babani - Chairman &Managing Director was appointed as the Chairman of the Committee, Mr. D. B. Rao - Executive Director was appointed as the Member of the Committee and Mr. R.S. Rajan, President of the Company was co-opted as the member of the said Committee. The Management Committee has certain Administrative and Financial powers delegated by the Board. 7. Corporate Social Responsibility Committee Pursuant to the provisions of Section 135 of the Act, the Company had formed Corporate Social Responsibility Committee. For the period upto August 12, 2020, composition of the Corporate Social Responsibility Committee was, three Independent Directors, two Non-Executive Directors and one Executive Director with Mr. Utkarsh Shah, Non‑Executive Director as Chairman of the Committee, Mr. Nahoosh Jariwala, Executive Director, Mr. Bhaktavatsala Doppalapudi Rao, Non-Executive Director, Ms. Radhika Pereira, Non-Executive Independent Director and Mr. Hemang Gandhi, Non-Executive Independent Director as the members of the Committee. However, during the year, four members resigned, therefore, the Committee was reconstituted at the Board meeting held on August 12, 2020 where Mrs. Anuradha Thakur, Non-Executive Independent Director was appointed as the Chairperson of the Committee and Mr. Sumit Maheshwari, Non-Executive Nominee Director, Mr. Rajesh Budhrani, Non-Executive Independent Director, Mr. Anurag Surana, Non-Executive Independent Director and Mr. Bhakatavatsala Doppalapudi Rao, Executive Director were appointed as the members of the Committee. During the year under review two Corporate Social Relationship Committee meetings were held on November 05, 2020 and February 05, 2021. The details of composition of the Corporate Social Responsibility Committee and attendance at Meetings during the financial year 2020-21 were as follows: Name of Member Designation No. of Committee Meeting(s) attended Mr. Utkarsh Shah (Chairman)* Non-Executive Director - Promoter 0 Mr. Hemang Gandhi* Non-Executive Independent Director 0 Mr. Nahoosh Jariwala* Executive Director - Promoter 0 Mr. Bhaktavatsala Doppalapudi Rao Non-Executive Director - Promoter 2 Ms. Radhika Pereira* Non-Executive Independent Director 0 Mrs. Anuradha Thakur (Chairman) ** Non-Executive Independent Director 2 Mr. Sumit Maheshwari *** Non-Executive Nominee Director 2 Mr. Anurag Surana** Non-Executive Independent Director 2 * Ceased to be Director/Member of Corporate Social Responsibility Committee of the Company w.e.f. closing hours of August 12, 2020. ** Appointed as the Director/Member of Corporate Social Responsibility Committee of the Company w.e.f. opening hours of August 13, 2020. *** Ceased to be Director/Member of Corporate Social Responsibility Committee of the Company w.e.f. closing hours of April 29, 2021. The terms of references of the Corporate Social Responsibility Committee are as follows: 1. to formulate and recommend to the Board, a Corporate Social Responsibility Policy which shall also indicate the activities to be undertaken by the company in areas or subject, specified in Schedule VII of the Act. 2. recommend the amount of expenditure to be incurred on the activities referred as per the Corporate Social Responsibility Policy 3. monitor the Corporate Social Responsibility Policy of the company from time to time. 4. institute transparent monitoring mechanism for implementation of the CSR Projects or programs or activities undertaken by the Company. 5. do such other acts, deeds, things and matters as are necessary or expedient in complying with the provisions of Section 135 of the Act and Companies (Corporate Social Responsibility Policy) Rules, 2014 The Company has also formulated the Corporate Social Responsibility Policy and the same is available on the website of the Company at http://www.privi.com/Downloads/Policies-PSCL/PSCL-Corporate-Social-Responsibility-Policy.pdf .