20 Genuine Draft Minutes of Committee Meeting

What Are “Draft Minutes of Committee Meeting”?

Think of a Draft Minutes of Committee Meeting like a group of important people in a company or organization sitting together to discuss and decide on certain matters (like finances, hiring, company goals, legal issues, etc.).

Now, during or after the meeting, someone (usually the Company Secretary or a designated person) writes down everything that was:

• Discussed
• Decided
• Proposed
• Voted on

These written notes are called “Minutes of the Meeting.”

🧾 What Does “Draft Minutes” Mean?

The word “draft” means it’s not final yet.

So, Draft Minutes are the first version of these meeting notes — they’re prepared right after the meeting to capture all the discussions and decisions, but they may still be reviewed, edited, or corrected later before being finalized.

📚 Example to Understand Better: Draft Minutes of Committee Meeting

Let’s say a committee of 5 people met on April 10th to talk about:

• Launching a new project
• Approving a budget
• Hiring a new manager

After the meeting, the Company Secretary quickly prepares a Draft Minutes Document that includes:

1. Date and time of the meeting
2. Names of people present
3. What each person said or suggested
4. What was agreed upon
5. Any decisions that need follow-up

This draft is then circulated to all committee members for their review. Once everyone agrees it’s accurate, it becomes final and is signed or adopted in the next meeting.

✅ Why Are Draft Minutes of Committee Meeting Important?

• They help everyone remember clearly what was said and decided.
• They are useful for legal records and compliance.
• They prevent misunderstandings or future conflicts.
• They are required by law for company records, especially under the Companies Act in India.

If you’re handling company records or secretarial work, preparing accurate draft minutes is a key part of maintaining transparency and legal compliance.

DRAFT MINUTES OF THE MEETING OF STAKEHOLDERS’ RELATIONSHIP COMMITTEE MEETING

Held on: [Date]
Time: [Start Time] to [End Time]
Venue: [Meeting Room / Online Platform Link / Registered Office]
Meeting Type: [Regular / Emergency / Special Committee Meeting]

1. Chairperson of the Meeting

The meeting was chaired by Mr./Ms. [Full Name], [Designation].

2. Attendance

The following members were present:

3. Leave of Absence (if any)

Leave of absence was granted to Mr./Ms. [Name], due to [reason, e.g., medical emergency/business travel].

4. OVERSEE AND REVIEW PENDING INVESTOR’S COMPLAINTS:

The status report of Investors’ complaints, received in the F.Y. 2025-26 (upto 31.12.2026) was placed before the meeting, details of which are as follows:

After detailed discussion on the report, the Committee found the above mentioned report appropriate and satisfactory and thereafter the report was taken on record.

The Committee also discussed the performance of the Registrar and Share Transfer Agent (‘RTA’) and Compliance Officer, who is jointly responsible to handle the grievances and requests/queries of the Shareholders. The Committee found that all shareholders’ queries and grievances related matter are being handled timely, cordially & appropriately. The Committee instructed the RTA and Compliance Officer to continue to resolve the issues and answer all the queries of the Shareholders, if any timely & appropriately, in future also. The Committee further instructed the RTA and Compliance Officer to report the Committee about all the serious grievances related matter, immediately, if needed.

None of the Directors or Key Managerial Personnel of the Company or their relatives is concerned or interested in the said resolution/matter except to the extent of their shareholding in the Company, if any.

Interested director(s) was/were not present at the meeting during discussions and voting, if any on the aforesaid resolutions, in which he/they are interested

Thereafter, the meeting concluded with a vote of thanks to the Chair.

5. Conclusion of Meeting

There being no other business, the meeting concluded at [Time] with a vote of thanks to the Chair.

Here I am Only adding Content related to agenda not the Whole Draft for your Reference: For Audit Committee Meeting Minutes

AUDITED FINANCIAL RESULTS FOR THE YEAR ENDED MARCH 31, 2025:

The Balance Sheet of the Company as at 31st March, 2025 and the Profit and Loss Account for the year ended on that date, duly audited, were placed before the Committee for discussion. The Board Discussed the same. The Committee noted that the company has achieved a turnover of Rs. 11139.50 Lacs as against the turnover of Rs. 10280.45 Lacs in the previousThe Cash Flow Statement prepared in accordance with Accounting Standard was placed before the meeting. After discussion, the Committee approved the same for submission to the Board of Directors of the Company.                        

The Committee noted the same and recommended to the Board of Directors for their approval. The Committee, thereafter, passed the following resolution:  

“RESOLVED THAT the Balance Sheet as at 31st March, 2025 and the Profit and Loss Account for the year ended on that date along with Notes on Accounts and Cash Flow Statement, placed before the meeting, be and are hereby approved and that the same be recommended to the Board of Directors for their approval

STATEMENT OF TRANSACTIONS WITH RELATED PARTIES:

It was informed to the Committee that during the year under review, the Company had not entered into any materially significant related party transactions that may have potential conflict with the interests of the

Company at large. All related party transactions entered into by the Company during the year under review were in the ordinary course of business and were on arm’s length basis. All related party transactions had the prior approval of the audit committee. A statement in summary form of transactions with related parties in the ordinary course of business placed before the audit committee. After review, the Committee noted and approved the same.

COMPLIANCE REPORTS OF LAWS APPLICABLE TO THE COMPANY:

A comprehensive status report detailing the Company’s compliance with applicable laws, including the provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, for the financial year ended March 31, 2025, was presented before the Committee during the meeting. After careful examination and discussion, the Committee took note of the report and acknowledged that the necessary regulatory requirements had been duly complied with.

REVIEW OF THE RISK ASSESSMENT AND MINIMIZATION PROCEDURES TO ENSURE THAT EXECUTIVE MANAGEMENT CONTROLS RISK THROUGH MEANS OF A PROPERLY DEFINED FRAMEWORK:

The Chairman informed the Committee about the current Risk Assessment and Minimization Procedures, emphasizing the importance of ensuring that the executive management effectively monitors and manages risks through a clearly defined and structured framework. Following a thorough discussion on the subject, the Committee acknowledged the existing measures in place. However, it recommended that the Board take appropriate steps to further strengthen and enhance the current procedures and systems, aiming for a more robust and comprehensive risk management strategy.

PRIOR OMNIBUS APPROVAL FOR RELATED PARTY TRANSACTIONS

The Audit Committee was apprised that, pursuant to Regulation 23 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, all Related Party Transactions (RPTs) are required to receive prior approval from the Audit Committee. However, the Audit Committee is empowered to grant omnibus approval for such transactions proposed to be entered into by the Company, subject to the following conditions:

i) The Audit Committee shall establish specific criteria for granting omnibus approvals, in alignment with the Company’s approved Policy on Related Party Transactions, and such approvals shall apply only to transactions that are repetitive in nature.

ii) The Audit Committee must be satisfied about the necessity of such omnibus approvals and ensure that such approvals are in the best interest of the Company.

iii) The omnibus approval shall include:

• the name(s) of the related party(ies),
• the nature and duration of the transaction,
• the maximum value of transactions that may be entered into,
• the indicative base price / current contracted price and the formula for price variation, if any, and
• any other conditions deemed appropriate by the Committee.

Provided that where the need for a Related Party Transaction cannot be foreseen and the above details are not available, the Committee may grant omnibus approval for such transactions, subject to the value not exceeding Rs. 1 crore per transaction.

iv) The Audit Committee shall review, at least on a quarterly basis, the details of RPTs entered into by the Company pursuant to each omnibus approval granted.

v) Such omnibus approvals shall be valid for a maximum period of one year, after which fresh approval must be obtained.

It was further informed to the Committee that the Company proposes to enter into certain transactions with its related parties in the ordinary course of business and on an arm’s length basis.

After careful deliberation and discussion, the Audit Committee passed the following resolution unanimously:

“RESOLVED THAT, subject to the consent of the shareholders of the Company by way of Special/Ordinary Resolution, as applicable, and pursuant to the provisions of Section 188 of the Companies Act, 2013, read with applicable rules and other enabling provisions (including any statutory modification or re-enactment thereof), and in compliance with the applicable provisions of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, omnibus approval of the Audit Committee be and is hereby accorded for all Related Party Transactions entered into / to be entered into by the Company during the Financial Year April 01, 2025 to March 31, 2026, in the ordinary course of business and at arm’s length basis, up to the maximum annual transaction limits as detailed below:

Details of Transactions Entered / To Be Entered Into with Related Parties during FY 2025–26:

(Insert table or list of related party transactions here with name, nature of transaction, value limits, etc.)

RESOLVED FURTHER THAT all these transactions will be based on ordinary course of business and at arms’ length basis.

REVIEW OF INTERNAL CHECK & CONTROL

The matter was thoroughly discussed and deliberated upon by the members of the Audit Committee, in consultation with the Statutory Auditors. The Auditors expressed their satisfaction with the current systems and procedures being followed. However, the Committee acknowledged the scope for further improvement, particularly in the area of inventory management and control. It was collectively agreed that enhancing these systems could lead to better operational efficiency and a significant reduction in overhead costs.

REVIEW OF PERFORMANCE OF STATUTORY, JOINT STATUTORY AND INTERNAL AUDITORS:

The Audit Committee undertook a comprehensive review of the performance and conduct of the Statutory Auditors, M/s. Committee & Associates, Chartered Accountants, Mumbai, for the financial year 2024–25. The evaluation was conducted in accordance with the relevant provisions of the Companies Act, 2013, and applicable standards issued by the Institute of Chartered Accountants of India (ICAI). Based on the review of the audit methodology, independence, professional integrity, reporting standards, and responsiveness to the Committee’s queries and recommendations, the Committee expressed its satisfaction with the overall performance and effectiveness of the Statutory Auditors in discharging their duties during the said period.

The Committee acknowledged that the auditors had adhered to the prescribed regulatory framework and maintained the requisite level of diligence, objectivity, and professional competence in the execution of their responsibilities. 

REVIEW OF THE MANAGEMENT LETTERS / LETTERS OF INTERNAL CONTROL WEAKNESSES, IF ANY ISSUED BY THE STATUTORY AUDITOR.

The Committee was apprised that, for the quarter and half-year period ended September 30, 2025, the Statutory Auditors did not issue any Management Letter nor did they report any material weaknesses or deficiencies in the Company’s internal control systems. This indicates that, based on their audit procedures and professional judgment, the auditors did not identify any significant matters warranting communication to the management or those charged with governance under the applicable auditing standards. The absence of such letters reflects a satisfactory internal control environment during the said reporting period.

REVIEW OF THE AUDITOR’S INDEPENDENCE, PERFORMANCE, AND EFFECTIVENESS OF AUDIT PROCESS.

The Audit Committee conducted a comprehensive review of the independence, performance, and overall effectiveness of the Statutory Auditor, M/s.Committee & Associates, Chartered Accountants, Jaipur, for the half-year period ended September 30, 2026. The evaluation encompassed an assessment of the auditor’s compliance with the relevant ethical standards, objectivity in audit reporting, and the quality and timeliness of audit deliverables.

Additionally, the Committee reviewed the independence, competence, and effectiveness of the Secretarial Auditor in discharging their responsibilities in accordance with the applicable provisions of the Companies Act, 2013 and the rules framed thereunder.

Upon due consideration of the observations, reports, and interactions held with both the audit firms, the Committee expressed its satisfaction with the level of professional integrity, audit quality, and independence maintained by both the Statutory and Secretarial Auditors during the said period.

RECOMMENDATION TO THE BOARD, FOR THE RE-APPOINTMENT OF THE SECRETARIAL AUDITOR FOR THE FINANCIAL YEAR 2025-2026:

aking into consideration the professional qualifications, track record, and domain expertise of M/s Commeetiee & Associates, Practicing Company Secretaries, Mumbai, along with their past performance in handling Secretarial Audit assignments, the Audit Committee deliberated upon and evaluated the nature, scope, and depth of the proposed Secretarial Audit engagement for the financial year 2025-26. After a detailed discussion, and being satisfied with their competency and capacity to conduct the audit in compliance with the applicable provisions of the Companies Act, 2013 and relevant SEBI regulations, the Committee unanimously recommended the appointment of M/s Commeetiee & Associates as the Secretarial Auditor of the Company for the financial year 2025-26, subject to the approval of the Board of Directors.”

TO EVALUATE FINANCIAL CONTROL

The Chairman of the committee informed the members that the internal financial control system of the company should be like a trigger document i.e. the policies and the procedures adopted by the company for ensuring orderly and efficient conduct of its business including adherence to company’s policies safeguarding of assets, prevention and detection of frauds or errors, accuracy and completeness of accounting records and timely preparation of reliable financial information.

The members further discussed that the company should adhere to the internal policies for revenue, IT, cost, HR, Treasury policies for the efficient working and growth of the company.

The members further discussed that in the era of demonetization, the company should also focus on Cash less and paper less policies. The company should make arrangements for providing training programs to be mandatorily given to all the employees of the company to make them aware about the benefits of E-Wallet facility introduced by Government, etc.

The Chief financial officer of the company Miss Committee Agrawal raised the concern for preparing an annual budget for the company because the budget provides a base to compare it with the actual performance so that the expenses are incurred out of the budget set for the company. Mr. Akshaya Goyal the chairman of the committee stated that there should be budget sheet for each of the department and branches of the company so that the expenses will be made within the limits of the budget.

The members further discussed that as we are working in a dynamic environment, we should make strategies and then budget should be made according to the strategies but these strategies and policies should not be rigid and should be flexible so that any changes in policies, strategies and budget could be made whenever it is required for the efficient working of the organization.

The members further discussed that there should be a variance analysis meeting to be done for the targets set and targets achieved which helps us in identifying the errors and the cause for such variance which will ultimately helps in achieving the targets of the company efficiently and effectively.

 Therefore, the committee expected that the above made decisions will help in improving the performance of the company in the future.

REVIEW OF THE FINANCIAL REPORTING PROCESS AND THE DISCLOSURE OF ITS FINANCIAL INFORMATION TO ENSURE THAT THE FINANCIAL STATEMENTS ARE CORRECT, SUFFICIENT AND CREDIBLE.

The CFO presented a comprehensive overview of the Company’s financial reporting process and the procedures for disclosing financial information. The Committee was thoroughly briefed on the internal mechanisms in place, ensuring that all financial data is accurately compiled, verified, and presented in line with regulatory requirements and best practices. After reviewing the existing system, the Committee expressed their satisfaction, acknowledging that the current process is robust, transparent, and adheres to high standards of financial integrity. The members were particularly reassured by the thoroughness of the reporting process and the adequacy of the disclosure practices, which contribute to maintaining stakeholder trust and compliance with financial regulations.

RECONSTITUTION OF AUDIT COMMITTEE:

Our company has reconstituted the Audit Committee (“Audit Committee”) through a resolution dated March 14, 2026, in accordance with the applicable provisions of Section 177 of the Companies Act, 2013, and Regulation 18 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This reconstitution was necessitated by the resignation of Mr. Goyal (Independent Director) and the appointment of Mr. Yes Mohnot as an Independent Director of the company. The reconstituted Audit Committee comprises the following members:

The company secretary of our company shall act as a secretary to the Audit Committee. the Chairman of the Audit Committee shall attend the Annual General meeting of our company to answer shareholder queries.