| IN LINE WITH THE REQUIREMENTS UNDER THE ACT AND SEBI LISTING REGULATIONS, THE BOARD UNDERTOOK A FORMAL ANNUAL EVALUATION OF ITS OWN PERFORMANCE, AND THAT OF ITS COMMITTEES, DIRECTORS AND THE CHAIRPERSON. NOMINATION & REMUNERATION COMMITTEE FRAMED QUESTIONNAIRES FOR EVALUATION OF PERFORMANCE OF THE BOARD AS A WHOLE, COMMITTEES, DIRECTORS AND THE CHAIRPERSON. THE DIRECTORS WERE EVALUATED ON VARIOUS PARAMETERS SUCH AS VALUE ADDITION TO DISCUSSIONS, LEVEL OF PREPAREDNESS, WILLINGNESS TO APPRECIATE THE VIEWS OF FELLOW DIRECTORS, COMMITMENT TO PROCESSES WHICH INCLUDES RISK MANAGEMENT, COMPLIANCE AND CONTROL, COMMITMENT TO ALL STAKEHOLDERS (SHAREHOLDERS, EMPLOYEES, VENDORS, CUSTOMERS ETC.), FAMILIARIZATION WITH RELEVANT ASPECTS OF COMPANY’S BUSINESS/ ACTIVITIES, AMONGST OTHER MATTERS. SIMILARLY, THE BOARD AS A WHOLE WAS EVALUATED ON PARAMETERS WHICH INCLUDED ITS COMPOSITION, STRATEGIC DIRECTION, FOCUS ON GOVERNANCE, RISK MANAGEMENT AND FINANCIAL CONTROLS. A SUMMARY REPORT OF THE FEEDBACK OF DIRECTORS ON THE QUESTIONNAIRE(S) WAS CONSIDERED BY THE INDEPENDENT DIRECTORS, NOMINATION & REMUNERATION COMMITTEE AND THE BOARD OF DIRECTORS AT THEIR RESPECTIVE MEETINGS. ON THE BASIS OF OUTCOME OF EVALUATION QUESTIONNAIRE AND DISCUSSION OF THE BOARD, THE PERFORMANCE OF THE BOARD AND ITS COMMITTEES, DIRECTORS (INCLUDING INDEPENDENT DIRECTORS) AND CHAIRPERSON HAS BEEN ASSESSED AS SATISFACTORY. A SEPARATE MEETING OF INDEPENDENT DIRECTORS WAS ALSO HELD TO REVIEW: PERFORMANCE OF THE NON - INDEPENDENT DIRECTORS AND THE BOARD AS A WHOLE. PERFORMANCE OF THE CHAIRPERSON OF THE COMPANY CONSIDERING THE VIEWS OF THE DIRECTORS OF THE COMPANY. ASSESS THE QUALITY, QUANTITY AND TIMELINESS OF FLOW OF INFORMATION BETWEEN THE COMPANY MANAGEMENT AND THE BOARD THAT IS NECESSARY FOR THE BOARD TO EFFECTIVELY AND REASONABLY PERFORM THEIR DUTIES. |