MINUTES OF THE MEETING OF THE AUDIT COMMITTEE OF ATN INTERNATIONAL LIMITED HELD AT ITS REGISTERED OFFICE AT 10, PRINCEP STREET, 2ND FLOOR, KOLKATA – 700 072 ON MONDAY, 31ST OCTOBER, 2005 AT 10.30 A.M.
PRESENT Sri Krishan Kumar Khadaria Sri Santosh Kumar Lahoti Sri Arihant Jain -
Chairman Member Member
Smt Rina Madia
Secretary
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CHAIRMAN Sri Krishan Kumar Khadaria took the chair and presided over the meeting. CONFIRMATION OF MINUTES Minutes of the last meeting of the Audit Committee of the Company were read, approved and signed by the Chairman. APPOINTMENT OF COMPANY SECRETARY & COMPLIANCE OFFICER The Chairman informed the Committee that Smt. Rina Madia, an Associate Member of the Institute of Company Secretaries of India have been appointed by the Board as the Company Secretary & Compliance Officer of the Company w.e.f. 3 rd August, 2005. Smt. Rina Madia, will also act as the Secretary to the Committee as per the requirement of the Listing Agreement.” Smt. Rina Madia was thereafter invited to attend the meeting. REVIEW OF UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED 30TH SEPTEMBER, 2005 The Chairman placed before the Committee the Unaudited Financial Results for the quarter ended 30th September, 2005 a copy of which was circulated to all the Members present at the meeting. The results were discussed at length and the following resolution was passed unanimously. “RESOLVED THAT the Unaudited Financial Results (Provisional) of the Company for the quarter ended 30th September, 2005 be and is hereby reviewed and the same be recommended to the Board for approval. REMUNERATION OF STATUTORY AUDITORS The members of the Committee discussed the remuneration to be paid to the Auditors of the Company for the year ended 31st March, 2006. The Committee discussed the matter and it was resolved as under. “RESOLVED THAT the Auditors of the Company M/s. Shambhu Kedia & Co., Chartered Accountants, be paid a sum of Rs. 44,080/- (Rupees Forty Four Thousand and eighty only) inclusive of service tax, for auditing the Accounts of the Company for the year ended 31st March, 2006 and the same be recommended to the Board for approval.”
VOTE OF THANKS There being no other business to transact, the meeting terminated with a vote of thanks to the Chair.
Place : Kolkata Dated : 31.01.2006
CHAIRMAN