MINUTES OF THE FOURTH MEETING OF THE AUDIT COMMITTEE OF GRAND

FOUNDRY LIMITED FOR THE FINANCIAL YEAR 2018-19 HELD ON TUESDAY,

NOVEMBER 13, 2018 AT THE REGISTERED OFFICE SITUATED AT 2327, 3RD
FLOOR, ARUN CHAMBERS, TARDEO, MUMBAI-400034 AT 11:00 A.M.

DIRECTORS PRESENT:

1. Naresh Goradia Chairman/Non- Executive, Independent Director

2. Kiran Jangla Director
3. Bhanwarlal Sanghvi Independent Director

CHAIRMAN

Mr. Naresh Goradia thanked all the members of the Committee and took the Chair.

CONFIRMATION OF MINUTES OF THE PREVIOUS AUDIT COMMITTEE

MEETING:

Minutes of the previous meeting held on August 07, 2018 were circulated to all the Members
and the Chairman enquired if there were any queries or clarifications on the minutes. Since
there were no further queries pertaining to the previous meeting minutes, the same were
considered as approved and confirmed and Signed by Chairman of Committee.

CONSIDERATION AND APPROVAL OF UN-AUDITED FINANCIAL RESULTS

FOR THE QUARTER AND HALF YEAR ENDED SEPTEMBER 30, 2018 WITH
LIMITED REVIEW REPORT OF AUDITOR

The chairman placed before the Members un-audited Financial Results for the quarter and half
year ended September 30, 2018 along with the Limited Review Report thereon issued by the
Statutory Auditor of the Company.
The Audit committee noted and recommended the same to the Board of Directors for their
approval and thereafter passed the following resolution:
“RESOLVED THAT, the Un-Audited Financial Results for the quarter and half year ended
September 30, 2018 be and is hereby approved by the members and the same be recommended
to the Board of Directors for their approval.”

“RESOLVED FURTHER THAT, the committee member be and are hereby declared that,
the company has made loss 16.74 lacs as compared to previous quarter made loss Rs.28.22
lacs, same will be placed in the board meeting for approval of Board of director of the
Company.
NOTED AUDITOR’S CERTIFICATE FOR THE QUARTER AND HALF YEAR
ENDED SEPTEMBER 30, 2018

The committee was informed that in terms of as per Regulation 33 of SEBI (LODR)
Regulation, 2015, the Audited Financial Results of the Company are subject to the Auditors
Report by the Statutory Auditors of the Company. Accordingly, M/s. Vijay V Dedhia & Co.
Chartered Accountants conducted the audit on the financials of the Company for the quarter
and half year ended September 30, 2018 and issued a report thereon, copies of which were
tabled at the meeting for perusal of the committee.

The committee was apprised that there was no qualification in the Report and also had no
adverse remark.

The committee reviewed and took note of the said Report.

RECOMMENDATION FOR APPOINTMENT OF MS. PARUL GUPTA AS

COMPANY SECRETARY AND COMPLIANCE OFFICER OF THE COMPANY

VOTE OF THANKS:

There being no further business for discussion at the meeting, the Meeting then terminated with
a vote of thanks to the Chair.

The chairman confirmed that the quorum was present throughout the Meeting.

Place: Mumbai Chairman