Krishna Ltd. is a listed company and it has six directors on its Board, out of which four directors are independent directors. Mr. Raju is the Executive Chairman and Promoter of the Company and Mr. Pawan is the Managing

Provisions related to Chairman of Audit Committee and its Composition As per Regulation 18 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Audit Committee shall comprise of at least three directors. At least two-thirds of the members of audit committee shall be independent directors. All members of audit committee shall be financially literate and at least one member shall have accounting or related financial management expertise. The chairperson of an Audit Committee shall be an independent director. In view of the above, since Mr. Pawan is Managing Director of M/s Krishna Limited, therefore, he cannot become the chairman of Audit Committee.