MAHINDRA & MAHINDRA LTD. | Integrated Annual Report 2022-23

165 COMPANY OVERVIEW BOARD’S REPORT MANAGEMENT DISCUSSION AND ANALYSIS CORPORATE GOVERNANCE BUSINESS RESPONSIBILITY AND SUSTAINABILITY REPORT STANDALONE ACCOUNTS CONSOLIDATED ACCOUNTS The Meetings of the Audit Committee are also attended by the Chairman, the Managing Director and Chief Executive Officer, Executive Director and CEO (Auto and Farm Sector), Group Chief Financial Officer, the Statutory Auditors, the Group Chief Internal Auditor, the Controller of Accounts, the Chief Financial Officer of Auto and Farm Sectors and the Company Secretary. As required under the Secretarial Standard on General Meetings, the Chairman of the Committee or, in his absence, any other Member of the Committee authorised by him on his behalf shall attend the General Meeting of the Company. Mr. T. N. Manoharan, Chairman of the Audit Committee, was virtually present at the 76 th AGM of the Company held through Video Conferencing facility on 5 th August, 2022 to address the Shareholders’ queries pertaining to Annual Accounts of the Company. Apart from the Meetings, Circular Resolution(s) are also passed by the Members. Subsequently, these Circular Resolution(s) are noted in the Meeting held after the date on which the Circular Resolution(s) are passed by the Members. Composition and Attendance (in brief): 100% 4 8 100% Independence Members Meetings Attendance The Committee met Eight times during the year under review on 27 th May, 2022, 7 th July, 2022, 4 th August, 2022, 9 th September, 2022, 10 th November, 2022, 21 st November, 2022, 9 th February, 2023 and 14 th March, 2023. The gap between two Meetings did not exceed one hundred and twenty days. The attendance at the Meetings was as under: Name of the Members Committee Meeting Dates and Mode Held during the Year Attended % of attendance of a Member 1 2 3 4 5 6 7 8 27 th May, 2022 7 th July, 2022 4 th August, 2022 9 th September, 2022 10 th November, 2022 21 st November, 2022 9 th February, 2023 14 th March, 2023 Hybrid VC Hybrid VC Physical VC Physical Hybrid Mr. T. N. Manoharan (Chairman) 8 8 100% Ms. Shikha Sharma 8 8 100% Mr. Vikram Singh Mehta 8 8 100% Mr. Haigreve Khaitan 8 8 100% % of attendance at a Meeting 100% 100% 100% 100% 100% 100% 100% 100% Audit Committee Attendance                Attended through Video Conference  Leave of Absence  Attended in-person AUDIT COMMITTEE REPORT FOR THE YEAR ENDED 31 ST MARCH, 2023 Activities of the Committee during the year Frequency Reviewed Quarterly, Half yearly and Annual Standalone and Consolidated Financials of the Company prepared in accordance with the Indian Accounting Standards (Ind AS) as specified under the Companies Act, 2013, read with the relevant rules thereunder Q / A Held discussions with the Statutory Auditors regarding the Company’s financial statements, scope of their Reports and sought the auditors’ judgment on the quality and applicability of the accounting principles, the reasonableness of significant judgments, the adequacy of disclosures in the financial statements and other matters as the Committee deemed necessary Q Reviewed and approved the Audit Fees and Fees payable for other services rendered by the Statutory Auditors during the year under review A Considered and made recommendation on the Remuneration payable to the Chief Internal Auditor and Chief Financial Officer of the Company A Reviewed the performance of the Statutory Auditors and approved their Re-Appointment as Statutory Auditors for a Second Term of 5 (five) consecutive years and recommended the same to the Board A / E Reviewed with independent auditors, the nature and scope of the audit alongwith the review of audit engagement to ascertain adequacy and appropriateness E