Audit Committee

Composition

The Audit Committee shall comprise of at least 3 Directors as Members and at least 2/3rd of the Directors to be Independent Directors. The chairperson of the Audit Committee shall be an Independent Director. All members of the Audit Committee shall be financially literate and at least one member shall have accounting or related financial management expertise. The company secretary of the Manager shall act as the secretary to the Audit Committee

Quorum

The quorum for the audit committee meeting shall either be two members or one third (1/3rd) of the members of the audit committee, whichever is greater, with at least two independent directors.

Frequency of meetings

The audit committee shall meet at least four times in a financial year and not more than one hundred and twenty days shall elapse between two meetings.