|Mr. Jagdeesh K. Reddy
|Mr. Biji Koshy
|Mr. Irfan Razack
|Dr. Pangal Ranganath Nayak
Mr. M. Sridhar , Company Secretary and Compliance Officer, acts as Secretary to the Audit Committee.
Brief description of terms of reference:
The general terms of reference of the Audit Committee are as under:
- Oversight of the Company's financial reporting process and the disclosure of its financial information to ensure that the financial statements are correct, sufficient and credible;
- Recommending to the Board the appointment, re-appointment and, if required, the replacement or removal of the statutory auditors and the fixation of the audit fees;
- Approval of payment to the statutory auditors for any other services rendered by the statutory auditors;
- Reviewing, with the management, the annual financial statements before submission to the Board for approval, with particular reference to:
- Matters required to be included in the Directors' Responsibility Statement to be included in the Board's report;
- Changes, if any, in accounting policies and practices and reasons for the same;
- Major accounting entries involving estimates based on the exercise of judgment by the management;
- Significant adjustments made in the financial statements arising out of audit findings;
- Compliance with listing and other legal requirements relating to financial statements;
- Disclosure of any related party transactions;
- Qualifications in the draft audit report;
- Reviewing, with the management, the quarterly financial statements before submission to the board for approval;
- Reviewing, with the management, performance of statutory and internal auditors, and adequacy of the internal control systems;
- Reviewing the adequacy of internal audit function, if any, including the structure of the internal audit department, staffing and seniority of the official heading the department, reporting structure coverage and frequency of internal audit;
- Discussion with internal auditors any significant findings and follow up there on;
- Reviewing the findings of any internal investigations by the internal auditors into matters where there is suspected fraud or irregularity or a failure of internal control systems of a material nature and reporting the matter to the board;
- Discussion with statutory auditors before the audit commences, about the nature and scope of audit as well as post-audit discussion to ascertain any area of concern;
- To look into the reasons for substantial defaults in the payment to the depositors, debenture holders, shareholders (in case of non payment of declared dividends) and creditors;
- To monitor the utilization of the Issue proceeds;
- Approval or any subsequent modification of transactions of the company with related parties
- Scrutiny of inter-corporate loans and investments;
- Valuation of undertakings or assets of the company and
- Such other functions as may be specifically referred to, by the Board, from time to time
Pursuant to Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("LODR"), we wish to inform you that a Meeting of the Board of Directors of Prestige Estate Projects Limited ('the Company') is scheduled to be held on Monday, February 13, 2017, to, inter alia, consider and approve the unaudited standalone and consolidated financial results of the company for the quarter and nine months ended December 31, 2016.
To read the full announcement of the company to the Stock Exchange, click here.
ICRA Limited has upgraded the long term rating of Prestige Estates Projects Limited to [ICRA] A+ ( Pronounced as ICRA A Plus) from [ICRA] A- (Pronounced as ICRA A minus) in respect of the various Fund and Non-Fund Based Credit Facilities sanctioned to the Company.
Contact Person for Investor Queries & Grievances
Prestige Estates Projects Ltd.
The Falcon House, No. 1,
Main Guard Cross Road,
Bangalore - 560 001.
Tel: +91 80 2559 1080