Appointment of Independent Directors

Schedule IV under Section 149 (8) of the Companies Act, 2013 read with Clause 49 of the Listing Agreement, the terms and conditions of appointment of the Five Independent Directors are to be disclosed along with their profiles which are also disclosed under the link : “Company – Executive Team”

Criteria of making payment of commission to Non-Executive Directors

With the growth in size, scale and complexity of the Company’s operations and the level of involvement of the Non-Executive Directors and Independent Directors in the supervision and control of the Company and their guidance for the growth of the Company as Members of the Board and also as Chairman and Members of the Committees of the Board, the role of Non-Executive/ Independent Directors on the Board has undergone significant qualitative change and is expanding. They have to devote considerable time and they all are highly qualified and experienced professionals.

Hence the company pays to all the Non-Executive Directors a sitting fees of Rs. 10,000/- per meeting per attendance for Board meeting and Rs. 10,000/- per meeting per attendance for Committee meeting