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statement. In terms of Section 136 of the act, the said statement there has been no qualification, reservation, adverse remark
will be open for inspection upon request by the Members. any or disclaimer given by the Secretarial auditor in their report.
Member interested in obtaining such particulars may write to the
Company Secretary at investors@tatachemicals.com. Reporting of Fraud

Auditors during the year under review, the Statutory auditors, Cost auditors
I. Statutory Auditors and Secretarial auditors have not reported any instances of frauds
committed in the Company by its officers or employees, to the
at the agM held on august 9, 2017, B S r & Co. llp, Chartered audit Committee under Section 143(12) of the act details of which
accountants (Firm registration no. 101248W/W-100022) needs to be mentioned in this report.
were appointed as Statutory auditors of the Company for a
period of five consecutive years. Other Disclosures
Further, the report of the Statutory auditors along with notes I. Details of Board Meetings
to Schedules is a part of the annual report. there has been during the year under review, nine (9) Board Meetings
no qualification, reservation, adverse remark or disclaimer were held, details of which are provided in the Corporate
given by the auditors in their report. governance report.

II. Cost Auditors II. Composition of Audit Committee
as per Section 148 of the act read with the Companies (Cost during the year under review, the audit Committee
records and audit) rules, 2014, the Company is required comprised four (4) Members out of which three (3) were
to prepare, maintain as well as have the audit of its cost Independent directors and one (1) was a non-executive
records conducted by a Cost accountant and accordingly it director. during the year, ten (10) audit Committee meetings
has made and maintained such cost accounts and records. were held, details of which are provided in the Corporate
the Board on the recommendation of the audit Committee governance report. during the year under review, there
has appointed d. C. dave & Co., Cost accountants (Firm were no instances when the recommendations of the audit
registration no. 000611) as the Cost auditors of the Company Committee were not accepted by the Board.
for FY 2020-21 under Section 148 and all other applicable
provisions of the act. III. Composition of CSR, Safety and Sustainability
Committee
d. C. dave & Co. have confirmed that they are free from a Meeting of CSr Safety and Sustainability Committee was
disqualification specified under Section 141(3) and proviso held once during FY 2019-20 on June 4, 2019. thereafter, the
to Section 148(3) read with Section 141(4) of the act and that Board of directors decided to split the said committee into
the appointment meets the requirements of Section 141(3) two viz. CSr Committee and Safety, Health, environment and
(g) of the act. they have further confirmed their independent Sustainability Committee with effect from august 8, 2019.
status and an arm’s length relationship with the Company.
each of the two committees comprises four (4) Members
the remuneration payable to the Cost auditors is required to out of which one (1) is an Independent director. In addition
be placed before the Members in a general Meeting for their to one meeting of CSr Safety and Sustainability Committee,
ratification. accordingly, a resolution for seeking Members’ two separate meetings of CSr Committee and Safety, Health,
ratification for the remuneration payable to d. C. dave & Co. environment and Sustainability Committee were held during
is included at Item no. 7 of the notice convening the agM. the year under review, details of which are provided in the
Corporate governance report.
III. Secretarial Auditor
IV. Secretarial Standards
In terms of Section 204 of the act and rules made thereunder,
parikh & associates, practicing Company Secretaries, have the directors have devised proper systems and processes for
been appointed as Secretarial auditors of the Company complying with the requirements of applicable Secretarial
to carry out the secretarial audit for FY 2020-21. the report Standards issued by the Institute of Company Secretaries of
of the Secretarial auditors for FY 2019-20 is enclosed as India and that such systems were adequate and operating
Annexure 7 to this report. effectively.

72 I Integrated annual report 2019-20