PURSUANT TO THE APPLICABLE PROVISIONS OF THE ACT AND THE SEBI LISTING REGULATIONS, THE BOARD HAS CARRIED OUT AN ANNUAL EVALUATION ON ITS OWN PERFORMANCE, PERFORMANCE OF THE DIRECTORS AND THE WORKING OF ITS COMMITTEES BASED ON THE EVALUATION CRITERIA DEFINED BY NOMINATION AND REMUNERATION COMMITTEE FOR PERFORMANCE EVALUATION PROCESS OF THE BOARD, ITS COMMITTEES AND DIRECTORS. THE BOARD’S FUNCTIONING WAS EVALUATED ON VARIOUS ASPECTS, INCLUDING INTER-ALIA THE STRUCTURE OF THE BOARD, MEETINGS OF THE BOARD, FUNCTIONS OF THE BOARD, DEGREE OF FULFILMENT OF KEY RESPONSIBILITIES, ESTABLISHMENT AND DELINEATION OF RESPONSIBILITIES TO VARIOUS COMMITTEES, EFFECTIVENESS OF BOARD PROCESSES, INFORMATION AND FUNCTIONING. THE COMMITTEES OF THE BOARD WERE ASSESSED ON THE DEGREE OF FULFILLMENT OF KEY RESPONSIBILITIES, ADEQUACY OF COMMITTEE COMPOSITION AND EFFECTIVENESS OF MEETINGS. THE DIRECTORS WERE EVALUATED ON ASPECTS SUCH AS ATTENDANCE, CONTRIBUTION AT BOARD/ COMMITTEE MEETINGS AND GUIDANCE/SUPPORT TO THE MANAGEMENT OUTSIDE BOARD/COMMITTEE MEETINGS. AS MENTIONED EARLIER, THE PERFORMANCE ASSESSMENT OF NON-INDEPENDENT DIRECTORS, BOARD AS A WHOLE AND THE CHAIRMAN WERE EVALUATED IN A SEPARATE MEETING OF INDEPENDENT DIRECTORS. THE SAME WAS ALSO DISCUSSED IN THE BOARD MEETING. PERFORMANCE EVALUATION OF INDEPENDENT DIRECTORS WAS DONE BY THE ENTIRE BOARD, EXCLUDING THE INDEPENDENT DIRECTOR BEING EVALUATED. |