Arohan Financial Services Limited | Annual Report 2022-23

195 | Annual Report | 2022-2023 Arohan Financial Services Limited Summary of significant accounting policies and other explanatory information for the year ended 31 March 2023 (Contd.) (All amounts in ` lakhs unless otherwise stated) Note 50(A): Additional disclosures pursuant to the RBI/2021-22/112DOR.CRE.REC.No.60/03.10.001/2021-22 dated October 22, 2021 on Scale Based Regulation (contd) Details of change in composition of the Board during the current and previous financial year. Name of Director Capacity (i.e., Executive/ Non- Executive/ Chairman/ Promoter nominee/ Independent) Nature of change (resignation, appointment) Effective date Mr. Manoj Kumar N Nambiar Executive - Managing Director Re-appointment July 1, 2021 Mr. Kasper Svarrer Non Executive - Nominee Director Vacation May 11, 2022 Mr. David Arturo Paradiso Non Executive - Nominee Director Appointment Additional Director since May 11, 2022 Nominee Director since August 11, 2022 Mr. Stephen Dongwon Lee Additional Director Appointment December 1, 2022 Ms. Matangi Gowrishankar Non Executive - Independent Director Re-appointment August 22, 2021 Where an independent director resigns before expiry of his/ her term, the reasons for resignation as given by his/ her shall be disclosed.: Nil Details of any relationship amongst the directors inter-se shall be disclosed: Nil 2) Committees of the Board and their composition (a) Audit Committee Audit Committee has been constituted under Section 177 of the Companies Act 2013 and under Regulation 18 and Part C of Schedule II of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015. The Committee has been charged with the principal oversight of financial reporting process and to ensure accurate and timely disclosure with the highest levels of transparency, integrity and aims to enhance the confidence in the quality of the Company’s financial reporting, to review of internal audit reports and action taken reports and assessment of the efficacy of the internal control systems. The Audit Committee also looks after the compliance with the legal and statutory requirements, related party transactions and recommends the appointment of statutory auditor to the Board. Name of the Director Member of Committee since Capacity (i.e., Executive/ Non-Executive/ Chairman/ Promoter nominee/ Independent) Number of Meetings of the Committee Number of shares held in the NBFC Held Attended Mr. Rajat Mohan Nag April 27, 2018 Non Executive - Independent Director 6 6 Nil Mr. Sumantra Banerjee April 27, 2018 Non Executive - Independent Director 6 4 10,000 Ms. Matangi Gowrishankar April 27, 2018 Non Executive - Independent Director 6 5 Nil Mr. Dinesh Kumar Mittal (*) November 10, 2022 Non Executive - Independent Director 6 3 Nil Mr. Piyush Goenka April 27, 2018 Non Executive - Nominee Director 6 5 Nil (*) Mr. Dinesh Kumar Mittal is a member of the Committee w.e.f. November 10, 2022.