annual-report-FY2021

180 COMPANY OVERVIEW BOARD’S REPORT MANAGEMENT DISCUSSION AND ANALYSIS CORPORATE GOVERNANCE BUSINESS RESPONSIBILITY REPORT STANDALONE ACCOUNTS CONSOLIDATED ACCOUNTS The Board observed that the R&D activities had matured over a period of time and as the R&D processes were streamlined, dissolved the Committee with effect from 8 th August, 2020. G. Strategic Investment Committee (A voluntary initiative of your Company) The Strategic Investment Committee is constituted by the Board with powers, inter alia , to evaluate and scrutinise significant investments / funding including but not limited to business acquisitions, reviewing and monitoring existing investments in subsidiaries, joint ventures and other group companies, overseeing and reviewing performance of various subsidiaries and making necessary recommendations to the Board from time to time including disinvestments. Mr. Anand G. Mahindra is the Chairman of the Committee. Mr. Vikram Singh Mehta, Mr. T. N. Manoharan, Ms. Shikha Sharma and Mr. Vijay Kumar Sharma are other Members of the Committee. Mr. Nadir B. Godrej ceased to be a Member of the Committee with effect from 8 th August, 2020 upon cessation as a Director of the Company. Apart from the Committee Members, the Committee Meetings are also invariably attended by the other Directors as Invitees. The Committee met five times during the year under review on 11 th June, 2020, 6 th August, 2020, 9 th November, 2020, 4 th February, 2021 and 25 th March, 2021. The attendance at the Meetings was as under: Name of the Directors Committee Meetings 1 2 3 4 5 Held during tenure Attended % of attendance of a Member 11 th June, 2020 6 th August, 2020 9 th November, 2020 4 th February, 2021 25 th March, 2021 Mr. Anand G. Mahindra (Chairman) 5 5 100% Mr. Nadir B. Godrej* 2 2 100% Mr. Vikram Singh Mehta 5 5 100% Mr. T. N. Manoharan 5 5 100% Ms. Shikha Sharma 5 5 100% Mr. Vijay Kumar Sharma 5 5 100% % of attendance at a Meeting 100% 100% 100% 100% 100% Strategic Investment Committee Meeting Attended through video conference * Ceased to be a Director and thereby Member of the Committee with effect from 8 th August, 2020. N.A. N.A. N.A. STRATEGIC INVESTMENT COMMITTEE REPORT FOR THE YEAR ENDED 31 ST MARCH, 2021 Activities of the Committee during the year Frequency Considered, reviewed and approved significant investments/funding to be made by the Company including acquisitions of Business and taking note of outstanding debt and recommended to the Board Q / P Monitored and reviewed the existing investments in subsidiaries, Joint Ventures and other group entities including overseeing the performance of various sectors/companies Q / P Considered and reviewed proposed divestments of the subsidiaries, Joint Ventures and other group entities and made suitable recommendations to the Board P Frequency Q Quarterly P Periodically H. Loans & Investment Committee (A voluntary initiative of your Company) The Loans & Investment Committee is authorised to approve loans and investment, disinvestment, borrowing moneys and related aspects of fund management in accordance with the authority granted and the parameters prescribed by the Board with Mr. Anand G. Mahindra as the Chairman of the Committee and the other Members being Dr. Pawan Goenka, Mr. Vikram Singh Mehta, Mr. Haigreve Khaitan and Ms. Shikha Sharma. Subsequent to the year end, Dr. Pawan Goenka ceased to be a Member of the Committee with effect from 2 nd April, 2021 and Dr. Anish Shah was appointed as Member of the Committee with effect from that date. Apart from the Meetings, Circular Resolution(s) is/ are also passed by the Members. Subsequently, these Resolution(s) are noted in the Meeting held after the date on which the Circular Resolution(s) is/are passed by the Members.