Year Ended March 31, 2008 - Lumax Auto Technologies Ltd.

S.No.Date of BoardMeetingBoard’s StrengthNo. of DirectorsPresent1.2.3.4.5.17/05/200725/06/200731/07/200723/10/200730/01/20086777767676b) Board's ProcessesIt is always been the Company's policy and practice that apart from matter requiring Board's approval by statute, all major decisionsincluding quarterly results of the Company, financial restructuring, capital expenditure proposals, collaborations, material investmentproposals in joint venture / group companies, sale and acquisition of material nature of assets, mortgages, guarantees, donations etc, asand when applicable, are placed before the Board.The minimum information required as per Code of Corporate Governance, is being made available to the Board as and when applicable.The Board meets at least once a Quarter. The Board Meetings are generally scheduled well in advance and the notice of each BoardMeeting is given in writing to each Director. The items placed at the meeting of the Board include the following:-1. Unaudited quarterly/half yearly financial results and audited annual accounts of the company.2. Minutes of meeting of Audit, Shareholders Grievance Committee, Remuneration Committee along with the Minutes of the subsidiaryCompany.3. Abstract of circular resolution passed, general notices of interest and Sales and /or purchase of investments, fixed assets, if any.4. Review of compliance of all laws applicable to the company including the requirement of the Listing Agreement with the Stock Exchangeand steps taken by the company to rectify instances of non compliance, If any.5. Related party transaction, if any.6. Reviewing the company's financial and risk management policies.7. Reviewing the business plan and strategy of the company.All the items in agenda are accompanied by notes giving comprehensive information on related subject and in certain matters such asfinancial/business plans, financial results, detailed presentations are made. The agenda and relevant notes are given to each Directorseparately at the Board Meeting to enable the Board to take informed decisions.The minutes of the Meeting of the Board are circulated to all Directors and confirmed at the subsequent meeting. The minutes of the AuditCommittee, Remuneration Committee and Shareholders' Grievance Committee are also individually given to the members of theCommittee and thereafter placed before the Board at the subsequent board meeting for taking on record.3. COMMITTEES OF THE BOARDCurrently, the Board has three Committees: (A) Audit Committee, (B) Remuneration Committee, (C) Investor Grievance and ShareTransfer Committee. The brief details of the various committees of the Board and their constitution and functions are as under:A. Audit Committeea) Composition and AttendanceThe Audit Committee comprises of three Non-Executive Independent Directors. The Composition of the Audit Committee is as follows:S.No.1.2.3.Name of DirectorsMr. Sandeep DinodiaMr. Manmohan SachdevMr. A.V. AlexanderStatusChairmanMemberMemberCategory ofMembershipNon-ExecutiveIndependent DirectorNon-ExecutiveIndependent DirectorNon-ExecutiveIndependent DirectorThe Audit Committee had met four times during the Financial Year April 1, 2007 to March 31, 2008. The attendance of the meetings are asunder :-S.No.123DirectorsMr. Sandeep DinodiaMr. Manmohan SachdevMr. A.V. AlexanderNo. of Meetings attended34412