Board Committees

Terms of reference of Nomination and Remuneration Committee are as under:

• Formulation of the criteria for determining qualifications, positive attributes and independence of a director and recommend to the Board a policy, relating to the remuneration of the directors, key managerial personnel and other employees
• Formulation of criteria for evaluation of Independent Directors and the Board
• Devising a policy on Board diversity
• Identifying persons who are qualified to become directors and who may be appointed in senior management in accordance with the criteria laid down, and recommend to the Board their appointment and removal. The company shall disclose the remuneration policy and the evaluation criteria in its Annual Report

The terms of reference of Stakeholders Relationship Committee is to consider and resolve the grievances not only of equity shareholders but also of debentures/other securities holders, if any, including complaints related to transfer of shares, non- receipt of annual report and non-receipt of declared dividends. Besides that the Committee also considers and approves the transactions as may be referred to it by the Board of Directors.

Terms of reference of Corporate Social Responsibility Committee are as under:

• Formulation and recommend to the Board, a CSR policy and activities to be undertaken by the Company as per Schedule VII of the Companies Act, 2013
• Recommend the amount of expenditure to be incurred on the activities; and
• Monitor the Policy of the Company from time to time

Terms of reference of Risk Management Committee are as under:

• Framing of Risk Management Plan and Policy
• Overseeing implementation and to monitor Risk Management Plan and Policy
• Periodically reviewing and evaluating the Risk Management Policy and practices with respect to risk assessment and risk management processes; and
• Performing such other functions as may be necessary or appropriate for the performance of its oversight function