commitee

NOMINATION AND REMUNERATION COMMITTEE

OBJECTIVE

To ensure a fair transparent and equitable remuneration to employees and Directors based on quality of people, their performance and capability to run the company successfully.

SCOPE

The scope of the Nomination & Remuneration Committee (“the Committee”) would inter alia include:

1. Formulate the criteria for determining qualifications, positive attributes and independence of a director and recommend to the Board a policy, relating to the remuneration of the directors, key managerial personnel and other employees

2. Formulation of criteria for evaluation of Independent Directors and the Board;


AUDIT COMMITTEE

PURPOSSE

1. To ensure the preservation of good financial practices throughout the Company.

2. To monitor that internal controls are in force to ensure the integrity of the Financial information reported to the shareholders.

3. To provide by way of regular meetings, a line of communication between the Board and the external and internal auditors.

TERMS OF REFERENCE:

1. Overseeing the Company’s financial reporting process and disclosure of its financial information to ensure that the financial statement is correct, sufficient and credible.

2. Recommending to the Board the appointment, re-appointment and replacement, remuneration andterms of statutory auditor and the fixation of audit fee.