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Committees of The Board

Committees of The Board

Audit & Risk Management Committee

Audit and Risk Management Committee represents a Committee of the Board of Directors under Section 177 of the Companies Act, 2013 under the Master Circular “Non-Banking Financial Companies – Corporate Governance (Reserve Bank) Directions, 2015. The Committee aids the Board of directors in meeting the oversight liabilities for evaluating the integrity, accuracy, transparency, and disclosure of the organization's financial report on time. It is the responsibility of the Committee to review the internal audit functions and oversee, measure, and assess the adequacy of the audits to maintain the highest standard. The Committee offers advocacy for the appointment of the internal auditors and secretarial, monitors the adherence to statutory compliance, meets the indispensable legal obligations, and ensures the related party transactions. Risk Management Committee is accountable for monitoring, identifying and evaluating the organization's critical, tactical, operational, or macro-environmental risks. The Committee reviews the risk management methodologies and approves action for prompt mitigation of the risk exposures.

Composition of Audit & Risk Management Committee
Sr. No. Name of the Director Designation
1 Dr. Sankar Datta Chairman
2 Dr. Tapan Kumar Mukhopadhyay Member
3 Mr. Kuldip Maity Member

Nomination And Remuneration (NRC) Committee

Nomination and Remuneration Committee (NRC) represents a Committee of the Board of Directors constituted under Section 178 of the Companies Act 2013 and the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015. The Committee is liable for formulating the succession plan and nomination procedure of the senior management and Board of Directors in a legitimate, transparent manner, based on the competency mapping, evaluation of expertise, relevant skills, and personal traits to attain the organizational goals and lead the company to the right direction. The Committee recommends the remuneration policy to the Board and devises the salary packages for the Key Managerial Personnel, Directors, and other significant employees.

Composition of Nomination and Remuneration Committee
Sr. No. Name of the Director Designation
1 Mr. Pradipta Kumar Jena Chairman
2 Dr. Sankar Datta Member
3 Mr. Ajit Kumar Maity Member

Corporate Social Responsibility (CSR) Committee

Corporate Social Responsibility (CSR) Committee under the Companies Act 2013 accredits the organizations to participate in social welfare movements and contribute to the development of society. The CSR Committee formulates and recommends strategies to the Board to attain the company's corporate social responsibilities. The Committee identifies the scopes of corporate social responsibilities of the organization, estimates expenditures, and composes financial statements to implement those specified CSR activities. The duties of the Committee include monitoring the execution of the CSR policies, evaluating their efficacy, and submitting the review reports to the Board.

Composition of Corporate Social Responsibility (CSR) Committee
Sr. No. Name of Members Designation
1 Dr. Sankar Datta Chairman
2 Mr. Kuldip Maity Member
3 Dr. Tapan Kumar Mukhopadhyay Member

Information Technology (IT) Strategy Committee

In accordance with the RBI Master Directions, the NBFC sector is decreed to form the Information Technology (IT) Strategy Committee for the comprehensive IT Governance of a company. The Committee carves the strategic IT decisions, reviews Board Policies, administers the organization’s IT performance, safeguards the cyber security systems, and perceives the IT roadmap of the enterprise. IT Strategy Committee appraises the immediate and future requirements; reviews the significance and certifies the viability of investment in IT projects; evaluates and amends the procedure for the protection of digital assets to ensure seamless operation of the organization. It examines the dynamics of technological transitions, formulates strategies to reform the organization’s economic outlook, and develops induction and training methodologies to enhance the IT competence of the workforce.

Composition Of Information Technology (IT) Committee
Sr. No. Name of Members Designation
1 Mr. Pradipta Kumar Jena Chairman
2 Mr. Kuldip Maity Member
3 Mr. Arindam Chakraborty Member (CTO)
4 Mr. Nikhil Agarwal Member (CIO)

Asset Liability Committee (ALCO)

Asset Liability Committee has been constituted as per the RBI Master Circular. Asset Liability Committee supervises the asset, liability, and risk management mechanisms to substantiate adequate liquidity; plans and evaluates risks associated with the balance sheet; considers interest rate risk, stabilizes interest income and interest expense; and determines effective lending and borrowing policies. The Committee designs and administers the Management Information System (MIS) for efficient risk management for on and off-balance sheets to earn sufficient returns. Asset Liability Committee is also accountable for risk diversification, capital requirements strategies, liquidity management, and performance indicators benchmarking. The responsibility of the Committee also includes framing liquidity management, capital market requirement, trading, interest rate, liquidity, risk, and capital adequacy policies of the institution.

Composition of Asset Liability Committee
Sr. No. Name of Members Designation
1 Mr. Kuldip Maity Chairman
2 Mr. Bijay Indra Member

Borrowing & Investment Committee

Borrowing & Investment Committee administers extensive management of the financial assets and adherence to the principle of statutory compliance. As specified under section 177 of the Companies Act 2013 and Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations 2015, the Audit Committee is accountable for borrowing and investment of the enterprise. The Committee monitors and reviews the long-term investment and financial exposures; efficacy of the borrowing and investment schemes; examines the fair value and status of the loans and investments of the company. The Committee is liable for outlining policies and management of borrowing, investment, the lending procedure, approval and rejection of loans and analyses of the associated risk factors.

Composition of Borrowing & Investment Committee
Sr. No. Name of the Director Designation
1 Mr. Ajit Kumar Maity Chairman
2 Mr. Kuldip Maity Member

Securities Allotment Committee

Security Allotment Committee is liable to circulate and allocate all categories of securities that the enterprise may issue from time to time in accordance with the Companies Act, 2013 and as specified in the Memorandum and Articles of Association of the company in conformity with the Companies (Issue of Share Certificate) Rules, 1960. The Board of Directors entrusts the Committee to issue share and equity certificates among the organization's stakeholders, address the queries and resolve shareholders' issues and conflicts related to the company's share allotments.

Composition of Securities Allotment Committee
Sr. No. Name of the Director Designation
1 Mr. Ajit Kumar Maity Chairman
2 Dr. Sankar Datta Member
3 Mr. Kuldip Maity Member