Jetwings intl & Domestic

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Jet Airways (India) Limited - 16th Annual Report 2007-08 The terms of reference of the Audit Committee are comprehensive and cover the matters specified for the Audit Committees under the Listing Agreement with the Stock Exchanges. i. Composition, names of Members, Chairman and attendance at Meetings during the Financial Year 2007-08 The Company has a qualified and an Independent Audit Committee as required under Clause 49 of the Listing Agreement. Currently its constitution is as under: Name of the Member Designation Category/Position Mr. Aman Mehta Chairman Independent Director Dr. Vijay L. Kelkar # Member Independent Director Mr. Victoriano P. Dungca Member Non-executive Director Mr. Javed Akhtar Member Independent Director Mr. Yash Raj Chopra Member Independent Director # Resigned w.e.f. 31st December, 2007 Mr. Shirish Limaye, Company Secretary is the Secretary of the Audit Committee. Executives from Finance, Secretarial and Internal Audit Departments and representatives of the Statutory Auditors are invited to attend the Audit Committee Meetings. ii. Meetings and attendance during the Financial Year 2007-08 Four Meetings of the Audit Committee were held during the Financial Year 2007-08. The dates on which the Audit Committee Meetings were held are as follows: 26th June, 2007, 30th July, 2007, 29th October, 2007 and 28th January, 2008. Name of the Member No. of Meetings attended Mr. Aman Mehta 2 Dr. Vijay L. Kelkar# 3 Mr. Victoriano P. Dungca 3 Mr. Javed Akhtar 3 Mr. Yash Raj Chopra 4 # Resigned w.e.f 31st December, 2007 3. REMUNERATION AND COMPENSATION COMMITTEE i. Terms of Reference The Remuneration and Compensation Committee shall determine the Compensation Policy and other benefits for Executive Directors and the Senior Management. 31
Jet Airways (India) Limited - 16th Annual Report 2007-08 ii. Composition, names of Members and Chairman The Members of the Remuneration and Compensation Committee are as under: Name of the Member Designation Category/Position Dr. Vijay L. Kelkar# Chairman Independent Director Mr. Victoriano P. Dungca Member Non-executive Director Mr. Charles A. Adams Member Non-executive Director Mr. Javed Akhtar Member Independent Director Mr. Aman Mehta Member Independent Director # Resigned w.e.f 31st December, 2007 iii. Meetings and attendance during the Financial Year 2007-08 During the Financial Year 2007-08, only one Meeting of the Remuneration and Compensation Committee was held on 30th July, 2007. Dr. Vijay L. Kelkar, Mr. Victoriano P. Dungca, Mr. Charles A. Adams and Mr. Javed Akhtar were present at the meeting. iv. Remuneration Policy At present, the Non-executive Directors of the Company are entitled only to sitting fees and commission, which is decided by the Board of Directors and approved by the Shareholders as remuneration towards the increased responsibility entrusted upon them, current trends and commensurate with the time devoted and the contributions made by them. The Remuneration payable to the Executive Director is determined by the Remuneration and Compensation Committee. However due to the loss in the current financial year, no commission is payable to any Director. v. Details of remuneration of Directors for the Financial Year 2007-08 Name of the Director Basic Salary (Rs.) Retirement Sitting Commission Allowances Perquisites Benefits Fees Payable (Rs.) (Rs.) (Rs.) (Rs.) (Rs.) Mr. Naresh Goyal Nil Nil Nil Nil 80,000 Nil 80,000 Mr.Ali Ghandour Nil Nil Nil Nil 120,000 Nil 120,000 Mr. Victoriano P. Dungca Nil Nil Nil Nil 220,000 Nil 220,000 Mr. Charles A.Adams Nil Nil Nil Nil 180,000 Nil 180,000 Mr. Javed Akhtar Nil Nil Nil Nil 160,000 Nil 160,000 Mr. I. M. Kadri Nil Nil Nil Nil 120,000 Nil 120,000 Total (Rs.) 32
Page 2 and 3: Contents Jet Airways (India) Limite
Page 4 and 5: Jet Airways (India) Limited - 16th
Page 12 and 13: Operational Highlights DIVIDEND Jet
Page 18 and 19: POST BALANCE SHEET EVENTS Jet Airwa
Page 20 and 21: 1. INDUSTRY STRUCTURE AND DEVELOPME
Page 22 and 23: Other Revenues Jet Airways (India)
Page 26 and 27: 5. Awards Jet Airways (India) Limit
Page 30 and 31: Name of Director Jet Airways (India
Page 34 and 35: Name of the Director Basic Salary (
Page 38 and 39: 1. FINANCIAL CALENDAR Jet Airways (
Page 46 and 47: To, The Members of Jet Airways (Ind
Page 48 and 49: (Referred to in paragraph 3 of our
Page 58 and 59: Schedules to the Balance Sheet as a
Page 66 and 67: SCHEDULE ‘S’ SIGNIFICANT ACCOUN
Page 68 and 69: K. BORROWING COSTS : Jet Airways (I
Page 76 and 77: 15.5 Value of Components and Spare
Page 78 and 79: Sr. No. Nature of Transactions Hold
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Jet Airways (India) Limited - 16th
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Net Current Assets ( - ) 5 5 8 5 6
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Schedules to the Consolidated Balan
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SCHEDULE ‘S’ Jet Airways (India
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3. CONTINGENT LIABILITY: Jet Airway
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Board of Directors (as on 29th July
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6. RECONSTITUTION OF AUDIT COMMITTE
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To The Members of JET LITE (INDIA)
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Jet Lite (India) Limited - 17th Ann
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C. Cash flows from Financing Activi
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Schedules to the Balance Sheet as a
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SCHEDULE H : SUNDRY DEBTORS Jet Lit
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SCHEDULE ‘S’ SIGNIFICANT ACCOUN
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L. INVENTORIES : Jet Lite (India) L
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6. Employee Benefits (a) Defined co
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8.3 Expenditure in Foreign Currency
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I) Registration Details Jet Lite (I
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# JET AIRWAYS (INDIA) LIMITED Regd.
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