REMUNERATION TO DIRECTORS
The Company has adopted a Nomination and Remuneration Policy in compliance of Section 178 of the Companies Act, 2013 and the Listing Agreement, entered into by the Company with Stock Exchanges. The policy acts as a guideline for determining, inter-alia, qualifications, positive attributes and independence of a director, matters relating to the remuneration, appointment, removal and evaluation of performance of the Directors, Key Managerial Personnel, Senior Management and other employees.
REMUNERATION CRITERIA TO NON EXECUTIVE DIRECTORS/ INDEPENDENT DIRECTORS:
The Non Executive Directors of the company, whether Independent or Non Independent, are paid sitting fees for attending the meetings of the Board of Directors / Committees of Board of Directors which is within the limits prescribed under the Companies Act, 2013 and the company does not paid any other fee or compensation to the Non Executive directors.
Details of Familiarization Programmes to Directors
The Company as a practice ensures that all Directors are briefed on matters of the Company on their induction into the Board of Directors of the company. The company also issues a Letter of Appointment in case of Independent Directors detailing their terms and conditions of appointment.
The Memorandum and Articles of Association of the Company, copies of Annual Reports for the previous financial years, half year reports, organization structure, Company policies including Code of Conduct, Insider Trading Policy, and Board Charter, Whistle Blower Policy etc. are provided to the directors at the time of induction.
The Board of Directors are also familiarized at regular intervals on any changes that takes place in the organization and also updations on statutory enactments effecting them as Directors or impacting the Company.
Terms and conditions for appointment of Independent Directors.pdf
The Board of Directors at their meeting held on February 6, 2012 approved the Code of Conduct
to all the Members of the Board of Directors and Senior Management Personnel (into DGM level)
pursuant to the provisions of Clause 49 of the Listing Agreement.