2009-10 - Aditya Birla Nuvo, Ltd

BIRLA SUN LIFE INSURANCE COMPANY LIMITED
During FY 2009-10, four Board meetings were held as below:
i) April 24, 2009
ii) July 22, 2009
iii) November 10, 2009
iv) January 23, 2010
During FY 2009- 10 the time gap between two successive board meetings did not exceed 4 months.
The attendance of the Directors at the above Board meetings and at the last Annual General
Meeting is given in Table 04:
Name of the Directors No. of Board meetings Attendance in
during the FY 2009-10
the last AGM
dated
Held Attended 11th May 2009
Mr. Donald A. Stewart 4 1 No
Mr. Kumar Mangalam Birla 4 2 Yes
Mr. Ajay Srinivasan 4 4 Yes
Mr. Bishwanath N. Puranmalka 4 4 Yes
Dr. Bharat K. Singh @ 1 0 No
Mr. Dikran Ohannessian 1 1 N.A.#
Mr. Gian P. Gupta 4 4 Yes
Dr. Rakesh Jain 2 2 N.A.#
Mr. Stephan Rajotte* 3 2 Yes
Mr. Suresh N. Talwar 4 2 No
Ms. Tarjani Vakil 2 2 N.A.#
Mr. Venkatesh S. Mysore 4 4 Yes
@ ceased to be director w.e.f. May 11, 2009
* ceased to be director w.e.f. January 23, 2010
# Appointed after the AGM
Table 04
I.E. Code of Conduct
The Company has designed and implemented a Code of Conduct for all the employees of the
Company. The senior management of the Company is also governed by this Code of Conduct.
II. AUDIT COMMITTEE
The provisions of Section 292A of the Companies Act, 1956, prescribes that every public company
having paid-up capital of not less than Rs. five crores shall constitute a committee of the Board
known as “Audit Committee”. The Company had constituted its Audit Committee on 31 st January,
2001 with well defined objectives, roles and responsibilities.
As per the documented charter, duly approved by the Board, the Audit Committee of the Company
is primarily responsible to review the internal control systems and financial operating systems of
the Company, ensure legislative and regulatory compliances, accounting policies and audit reports,
and report to the Board on significant results of the foregoing activities. The Committee also serves
the Board by providing qualitative inputs to financial statements and brings in a degree of financial
expertise. The Audit Committee scrutinizes the quarterly / yearly unaudited / audited financial
statements and satisfies itself with the accuracy and correctness of these statements.
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