annual-report-FY2020

189 MAHINDRA & MAHINDRA LTD. INTEGRATED ANNUAL REPORT 2019-20 profits during the three immediately preceding Financial Years in pursuance of its CSR Policy for the Company’s CSR Initiatives. The scope of functions of the Committee includes, inter alia , the formulation and recommendation to the Board for its approval and implementation, the Business Responsibility (“BR”) Policy(ies) of the Company, undertake periodical assessment of the Company’s BR performance, review the draft BR Report and recommend the same to the Board for its approval and inclusion in the Annual Report of the Company. The role of this Committee also includes recommendation of the amount of expenditure to be incurred on the CSR activities as enumerated in Schedule VII of the Act and also referred to in the CSR Policy of the Company, as also to monitor the CSR Policy from time to time, etc. During the year, the Annexure to the CSR Policy containing list of the CSR Projects (2019-20) was updated. The CSR Policy for your Company as duly amended is available on the website of the Company at the web link: https://www.mahindra.com/resources/FY20/ AnnualReport.zip. The Committee met thrice during the year under review on 28 th May, 2019, 7 th November, 2019 and 27 th March, 2020. The attendance at the Meetings was as under: Members Number of Meetings attended Dr. Vishakha N. Desai (Chairperson) 3 Mr. Anand G. Mahindra 3 Dr. Pawan Goenka 3 Mr. R. K. Kulkarni* 1 Mr. Vikram Singh Mehta 3 * Ceased to be a Director and thereby Member of the Committee with effect from 8 th August, 2019. E. Risk Management Committee Regulation 21 of the Listing Regulations mandates constitution of the Risk Management Committee. The Committee is required to lay down the procedures to inform to the Board about the risk assessment and minimisation procedures and the Board shall be responsible for framing, implementing and monitoring the Risk Management Plan of the Company. The Board has constituted a Risk Management Committee. The Committee is headed by Dr. Pawan Goenka. The other Members are Mr. Nadir B. Godrej, Mr. M. M. Murugappan, Mr. T. N. Manoharan and Ms. Shikha Sharma. Ms. Shikha Sharma was appointed as a Member of Committee with effect from 8 th August, 2019 and Mr. R. K. Kulkarni ceased to be a Member of the Committee with effect from 8 th August, 2019 upon cessation as a Director of the Company. Subsequent to year end, Dr. Anish Shah and Mr. Rajesh Jejurikar have been appointed as Members of the Committee, with effect from 1 st April, 2020. The Committee met twice during the year under review on 7 th November, 2019 and 27 th March, 2020. The attendance at the Meetings was as under: Members Number of Meetings attended Dr. Pawan Goenka (Chairman) 2 Mr. Nadir B. Godrej 2 Mr. M. M. Murugappan 2 Mr. R. K. Kulkarni* N.A. Mr. T. N. Manoharan 2 Ms. Shikha Sharma** 2 * Ceased to be a Director and thereby Member of the Committee with effect from 8 th August, 2019. ** Appointed as a Member of the Committee with effect from 8 th August, 2019. F. Research & Development Committee (A voluntary initiative of your Company) The Research & Development (“R&D”) Committee, which was constituted by the Board in 1998, provides direction on the R&D mission and strategy and key R&D and technology issues. The Committee also reviews and makes recommendations on the skills and competencies required and the structure and the process needed to ensure that the R&D initiatives result in products that are in keeping with the business needs. Mr. M. M. Murugappan is the Chairmanof the Committee.Mr. AnandG.Mahindra, Dr. Pawan Goenka and Mr. Nadir B. Godrej are the other Members of the Committee. The Committee met twice during the year under review on 28 th May, 2019 and 6 th November, 2019. The attendance at the Meetings was as under: Members Number of Meetings attended Mr. M. M. Murugappan (Chairman) 2 Mr. Anand G. Mahindra 2 Dr. Pawan Goenka 2 Mr. Nadir B. Godrej 2