3.2 Nomination and Remuneration Committee:
The Company has in place the Nomination & Remuneration Committee. The Committee
ensures on the basis of set parameters and criteria that the existing directors
and key managerial personnel are ‘fit and proper person’.
Brief description of terms of reference
The powers and role of the Committee would encompass ensuring the criteria for
the appointment of the directors and the personnel at the senior management personnel.
In addition, the Committee also ensures that the members elected, as members of
the Committee of the board of directors, are also appropriate.
The terms of reference also includes the Company’s policy on specific remuneration
packages for executive directors including payment of minimum remuneration in terms
of Schedule XIII of the Companies Act, 1956.
It also includes dealing with matters relating to appointment and remuneration,
one level below the board of directors of the Company and also have such power as
may be entrusted to them, from time to time, by the board of directors and all such
matter in connection with the above.
Composition, name of members and the chairman:
The Nomination and Remuneration committee consists of the following directors:
|Name of the directors (M/s.)