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Statement of the boards, councils, committees and other bodies

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Statement of the boards, councils, committees and other bodies

 

A  statement  of  the  boards,  councils,  committees  and  other bodies consisting of two or more persons constituted as its part or for the purpose of its advice, and as to whether meetings of those boards,  councils,  committees  and  other  bodies  are  open  to  the public, or the minutes of such meetings are accessible for public.

 

The statement of Board of Directors and  its  various  Committees  is  as follows:

Board of Directors

The  Board  of  MMTC  has  a  mix  of  Executive  &  non-executive  Directors.  The present Board (as on 31.3.2016) comprises of CMD, 5 whole time functional Directors, two part time Govt. nominee Directors from the Department of Commerce, Ministry of Commerce & Industry, Govt. of India and five independent directors. The President of India appoints all the Directors of MMTC.

 

The Board  is  responsible  for  the  proper  direction,  control, superintendence and management of the Company. The meetings of the Board are usually held at the registered office of the company and are scheduled well in advance.  The Board of MMTC meets regularly at least once in a quarter.  The meetings of Board are governed by a structured agenda for discussion.  Detailed agenda papers including other explanatory notes are circulated in advance on all major issues to enable the Board to take informed and independent decisions.

 

To  facilitate  expeditious  considerations  and  decisions/directions  with focused  attention  on  the  affairs  of  the  company,  the  Board  has constituted  following  committees  with  distinct  role,  responsibility  and authority:

Reconstitution of Sub-Committees of the Board w.e.f 10.08.2016 as approved by the Board of Directors in it’s 426th Meeting held on 19.08.2016

 

Sl. No.

Name of the Committees of the Board

Brief role of the Committee

Present Members/ Chairman

1.

Audit Committee

To oversee the audit function, review critical findings, ensure compliance with the accounting standards as per Companies Act 2013.

Shri R. Anand- Chairperson & Ind. Director

Shri J.K.Dadoo- Govt. Nominee Director

Shri B.K.Shukla- Ind. Director

 

2.

Committee of Directors on Subsidiary, Joint Ventures & Associate Companies

To consider and recommend approval of investments/disinvestments, approval of agreement and any changes therein to the Board of Directors, advice on strategic issues related to MMTC’s investment and the performance of projects/ JVs/Associate companies/ Subsidiaries .

To be reconstituted

3.

Nomination & Remuneration Committee

Committee shall identify the persons who are qualified to become directors and who may be appointed in senior management, recommend to the board their appointment and removal and shall carry out evaluation of every director’s  performance.

Shri B.K.Shukla- Chairperson & Ind. Director

Dr. Inder Jit Singh- Govt. Nominee Director

Shri R.Anand- Ind. Director

 

4.

Stakeholders Relationship Committee

Committee shall expeditiously consider and monitor  the grievances of the shareholders/other investors.

Shri B.K.Shukla- Chairperson & Ind. Director

CMD

Director (Finance)

 

5.

Committee of Directors on CSR & Sustainability

To oversee the implementation and monitoring of CSR and Sustainability activities in accordance with the applicable provisions.

Shri R.Anand- Chairperson & Ind. Director

CMD

Director (Finance)

Director (Personnel)

 

6.

Committee of Directors on Personnel Policies

To consider and recommend approval of modifications/formulation of service rules and other personnel policies to the Board

To be reconstituted

7.

Share Transfer Committee

 

It shall expeditiously considers & approves requests for physical share transfers, rematerialisation & dematerialization

All Functional Directors

 

8.

Risk Management Committee

 

Recommend to the Board and maintain  a sound system of risk oversight, management & internal control. The Committee identifies, assesses, manages & monitors risk.

CMD

All Functional Director

 

 

                            

The meetings of the Board and its Committees are not open to the public.

The minutes of meetings of the Board of Directors and its Committees are not accessible for public since these are related to strategies, policies and business decisions, the information of which is not to be published as per the exemption granted under Sec 8(d) of the Right to Information Act, 2005.

 


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Last Updated on 17-11-2017