SS-1 is applicable to meetings of the committees only if: -All the members of the said committee are directors and the committee has been constituted by the Board whether statutorily or otherwise. 

Reg 21 of SEBI LODR says that the majority of members of Risk Management Committee shall consist of members of the board of directors and the Chairperson of the Risk management committee shall be a member of the board of directors and senior executives of the listed entity may be members of the committee.

SEBI LODR allows senior executives of the listed entity may be members of the committee but in this case SS-1 is not applicable on Risk Management committee constituted under Listing Regulations. Any other views/comment ?