Committees of The Board
Audit & Risk Management Committee
Audit and Risk Management Committee represents a Committee of the Board of Directors under Section 177 of the Companies Act, 2013 under the Master Circular “Non-Banking Financial Companies – Corporate Governance (Reserve Bank) Directions, 2015. The Committee aids the Board of directors in meeting the oversight liabilities for evaluating the integrity, accuracy, transparency, and disclosure of the organization's financial report on time. It is the responsibility of the Committee to review the internal audit functions and oversee, measure, and assess the adequacy of the audits to maintain the highest standard. The Committee offers advocacy for the appointment of the internal auditors and secretarial, monitors the adherence to statutory compliance, meets the indispensable legal obligations, and ensures the related party transactions. Risk Management Committee is accountable for monitoring, identifying and evaluating the organization's critical, tactical, operational, or macro-environmental risks. The Committee reviews the risk management methodologies and approves action for prompt mitigation of the risk exposures.
Composition of Audit & Risk Management Committee
| Sr. No. | Name of the Director | Designation |
|---|---|---|
| 1 | Mr. Pradipta Kumar Jena | Chairman |
| 2 | Dr. Tapan Kumar Mukhopadhyay | Member |
| 3 | Mr. Kuldip Maity | Member |
Nomination and Remuneration (NRC) Committee
Nomination and Remuneration Committee (NRC) represents a Committee of the Board of Directors constituted under Section 178 of the Companies Act 2013 and the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015. The Committee is liable for formulating the succession plan and nomination procedure of the senior management and Board of Directors in a legitimate, transparent manner, based on the competency mapping, evaluation of expertise, relevant skills, and personal traits to attain the organizational goals and lead the company to the right direction. The Committee recommends the remuneration policy to the Board and devises the salary packages for the Key Managerial Personnel, Directors, and other significant employees.
Composition of Nomination and Remuneration Committee
| Sr. No. | Name of the Director | Designation |
|---|---|---|
| 1 | Mr. Pradipta Kumar Jena | Chairman |
| 2 | Ms. Shivanjali Mehta | Member |
| 3 | Mr. Ajit Kumar Maity | Member |
Corporate Social Responsibility (CSR) Committee
Corporate Social Responsibility (CSR) Committee under the Companies Act 2013 accredits the organizations to participate in social welfare movements and contribute to the development of society. The CSR Committee formulates and recommends strategies to the Board to attain the company's corporate social responsibilities. The Committee identifies the scopes of corporate social responsibilities of the organization, estimates expenditures, and composes financial statements to implement those specified CSR activities. The duties of the Committee include monitoring the execution of the CSR policies, evaluating their efficacy, and submitting the review reports to the Board.
Composition of Corporate Social Responsibility (CSR) Committee
| Sr. No. | Name of Members | Designation |
|---|---|---|
| 1 | Ms. Shivanjali Mehta | Chairman |
| 2 | Mr. Kuldip Maity | Member |
| 3 | Dr. Sankar Datta | Member |
Information Technology (IT) Strategy Committee
In accordance with the RBI Master Directions, the NBFC sector is decreed to form the Information Technology (IT) Strategy Committee for the comprehensive IT Governance of a company. The Committee carves the strategic IT decisions, reviews Board Policies, administers the organization’s IT performance, safeguards the cyber security systems, and perceives the IT roadmap of the enterprise. IT Strategy Committee appraises the immediate and future requirements; reviews the significance and certifies the viability of investment in IT projects; evaluates and amends the procedure for the protection of digital assets to ensure seamless operation of the organization. It examines the dynamics of technological transitions, formulates strategies to reform the organization’s economic outlook, and develops induction and training methodologies to enhance the IT competence of the workforce.
Composition of Information Technology (IT) Strategy Committee
| Sr. No. | Name of Members | Designation |
|---|---|---|
| 1 | Dr. Tapan Kumar Mukhopadhyay | Chairman |
| 2 | Mr. Kuldip Maity | Member |
| 3 | Dr. Sankar Datta | Member |
| 4 | Mr. Arindam Chakraborty | Member (CTO) |
| 5 | Mr. Nikhil Agarwal | Member (CIO) |
Borrowing & Investment Committee
Borrowing & Investment Committee administers extensive management of the financial assets and adherence to the principle of statutory compliance. As specified under section 177 of the Companies Act 2013 and Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations 2015, the Audit Committee is accountable for borrowing and investment of the enterprise. The Committee monitors and reviews the long-term investment and financial exposures; efficacy of the borrowing and investment schemes; examines the fair value and status of the loans and investments of the company. The Committee is liable for outlining policies and management of borrowing, investment, the lending procedure, approval and rejection of loans and analyses of the associated risk factors.
Composition of Borrowing & Investment Committee
| Sr. No. | Name of the Director | Designation |
|---|---|---|
| 1 | Mr. Ajit Kumar Maity | Chairman |
| 2 | Mr. Kuldip Maity | Member |
Asset Liability Committee
Asset Liability Committee oversee the management of a company’s assets and liabilities for effectively evaluating on and off-balance sheet risk to the Company along with ensuring adequate liquidity. The Committee acts as a supervisory group that coordinates the management of assets and liabilities with a goal of earning adequate returns.Member responsibilities typically include managing market risk tolerances, establishing appropriate MIS, and reviewing the company’s liquidity position and facilitates funds management decision of the Company.
Composition of Asset Liability Committee
| Sr. No. | Name of the Director | Designation |
|---|---|---|
| 1 | Mr. Kuldip Maity | Chairman |
| 2 | Mr. Dipanjan Chatterjee | Member |