GSK_Annual_Report_2021

Statutory Reports GlaxoSmithKline Pharmaceuticals Limited 60  Details of the composition of the Audit Committee and attendance of Members are as follows: Five Audit Committee meetings were held during the year ended 31 March 2021. The Committee comprises of Independent and Non-Executive Directors and their meetings were held on 18 May 2020, 29 July 2020, 28 October 2020, 23 November 2020 & 5 February 2021. Name of the Members Designation Category of Directorship Attendance out of five meetings held Mr. D. Sundaram Chairman Non-Executive & Independent 5 Ms. R. S. Karnad Member Non-Executive 5 Mr. N. Kaviratne Member Non-Executive & Independent 5 Mr. P. V. Bhide Member Non-Executive & Independent 5 All members of the Audit Committee are financially literate. The Managing Director, Chief Financial Officer, other Whole-time Directors, the Statutory Auditors and Internal Auditors are invitees to the meetings. The Company Secretary is Secretary to the Committee. The Chairman of the Audit Committee, Mr. D. Sundaram, was present at the Annual General Meeting of the Company held on 27 July 2020. Risk Management Committee The composition of the Risk Management Committee: Name of the Members Designation Category of Directorship Mr. D. Sundaram Chairman Non-Executive & Independent Ms. R. S. Karnad Member Non-Executive Mr. N. Kaviratne Member Non-Executive & Independent Mr. P. V. Bhide Member Non-Executive & Independent During the year under review, the Committee met on 18 May 2020. The Chairman and all the members attended the meeting. The Managing Director, Chief Financial Officer, other whole-time Directors are invitees to the meetings. The Company Secretary is Secretary to the Committee. The Chairman of the Risk Management Committee, Mr. D. Sundaram, was present at the Annual General Meeting of the Company held on 27 July 2020. 4. NOMINATION & REMUNERATION COMMITTEE  Terms of Reference The terms of reference of this Committee cover the matters specified for Nomination & Remuneration Committee under Section 178 of the Companies Act, 2013 and Clause 19 of the Listing Obligations & Disclosures Regulations, 2015 with Stock Exchanges and are as follows: a) Formulation of the criteria for determining qualification, positive attributes and independence of a Director and they recommend to the Board a policy relating to the remuneration of the Directors, Key Managerial Personnel and other employees; While formulating the policy as mentioned above, the Committee will ensure that; 1) the level and composition of remuneration is reasonable and sufficient to attract, retain and motivate Directors of the quality required to run the Company successfully; 2) relationship of remuneration to performance is clear and meets appropriate performance benchmarks and;