Our Leadership
Our Leadership
At TechEra Engineering, our leadership team is comprised of experienced professionals who possess a wealth of industry knowledge and a common goal of fostering innovation and excellence. With decades of experience across multiple sectors, including Aerospace, Automation, and Precision Manufacturing, our leaders contribute invaluable insights. Their strategic planning and hands-on leadership have been essential in driving TechEra’s success and expansion. Our leaders are dedicated to cultivating a culture of collaboration, continuous enhancement, and a strong focus on customer satisfaction, ensuring we provide innovative solutions that not only meet but exceed our clients’ evolving requirements. Under their direction, TechEra is positioned at the leading edge of technology advancements, establishing new benchmarks in the industry.
Board of Directors:
Board Committees:
The Board has appointed various committees to assist it in discharging its responsibilities. The Board has adopted charters setting forth the roles and responsibilities of each of the committees. The Board may constitute new committees or dissolve any existing committee as it deems necessary for the discharge of its responsibilities.
Audit Committee
Composition
Haridas N. Bhabad
Chairperson
Manish Gupta
Independent Director
Nimesh R. Desai
Managing Director
Objective of Audit Committee
The Audit Committee aims to enhance the confidence in the integrity of the company’s financial reporting, the internal control processes and procedures and the risk management systems.
Terms of reference of the Audit Committee:
(a) the recommendation for appointment, remuneration and terms of appointment of auditors of the company;
(b) review and monitor the auditor’s independence and performance, and effectiveness of audit process;
(c) examination of the financial statement and the auditors’ report thereon;
(d) approval or any subsequent modification of transactions of the company with related parties;
(e) scrutiny of inter-corporate loans and investments;
(f) valuation of undertakings or assets of the company, wherever it is necessary;
(g) evaluation of internal financial controls and risk management systems;
(h)monitoring the end use of funds raised through public offers and related matters.
Role of the Audit committee:
- oversight of the company’s financial reporting process and the disclosure of its financial information to ensure that the financial statement is correct, sufficient and credible;
- recommendation for appointment, remuneration and terms of appointment of auditors of the company;
- approval of payment to statutory auditors for any other services rendered by the statutory auditors;
- reviewing, with the management, the annual financial statements and auditor’s report thereon before submission to the board for approval, with particular reference to:
(a) matters required to be included in the Director’s Responsibility Statement to be included in the Board’s report in terms of clause (c) of sub-section 3 of section 134 of the Companies Act, 2013
(b) changes, if any, in accounting policies and practices and reasons for the same
(c) major accounting entries involving estimates based on the exercise of judgment by management
(d) significant adjustments made in the financial statements arising out of audit findings
(e) compliance with listing and other legal requirements relating to financial statements
(f) disclosure of any related party transactions
(g) 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, the statement of uses / application of funds raised through an issue (public issue, rights issue, preferential issue, etc.), the statement of funds utilized for purposes other than those stated in the offer document / prospectus / notice and the report submitted by the monitoring agency monitoring the utilisation of proceeds of a public or rights issue, and making appropriate recommendations to the Board to take up steps in this matter;
- review and monitor the auditor’s independence and performance, and effectiveness of audit process;
- 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, wherever it is necessary;
- evaluation of internal financial controls and risk management systems;
- reviewing, with the management, performance of statutory and internal auditors, 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 of 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 review the functioning of the Whistle Blower mechanism;
- approval of appointment of CFO (i.e., the whole-time Finance Director or any other person heading the finance function or discharging that function) after assessing the qualifications, experience and background, etc. of the candidate;
- carrying out any other function as is mentioned in the terms of reference of the Audit Committee.
Nomination & Remuneration Committee
Composition
Manish Gupta
Chairperson
Haridas N. Bhabad
Independent Director
Kalpana N. Desai
Director
Terms of Reference Nomination & Remuneration Committee:
- formulation of the criteria for determining qualifications, positive attributes and independence of a director and recommend to the Board a policy, relating to the remuneration of the directors, key managerial personnel and other employees;
- formulation of criteria for evaluation of Independent Directors and the Board;
- devising a policy on Board diversity;
- identifying persons who are qualified to become directors and who may be appointed in senior management in accordance with the criteria laid down, and recommend to the Board their appointment and removal. The company shall disclose the remuneration policy and the evaluation criteria in its Annual Report.
Functions of Nomination & Remuneration Committee:
- identify persons who are qualified to become directors and who may be appointed in senior management in accordance with the criteria laid down, recommend to the Board their appointment and removal. Further it has been attached with a wider responsibility of carrying out evaluation of every director’s performance.
- formulate the criteria for determining qualifications, positive attributes and independence of a director and recommend to the Board a policy, relating to the remuneration for the directors, key managerial personnel and other employees. While formulating the policy, the Committee shall consider the following:
(a) the level and composition of remuneration is reasonable and sufficient to attract, retain and motivate directors of the quality required to run the company successfully;
(b) relationship of remuneration to performance is clear and meets appropriate performance benchmarks; and
(c) remuneration to directors, key managerial personnel and senior management involves a balance between fixed and incentive pay reflecting short and long-term performance objectives appropriate to the working of the company and its goals.
