UNDER THE PROVISIONS OF THE COMPANIES ACT, 2013, AND SEBI (LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2015, AS AMENDED, THE BOARD OF DIRECTORS OF THE COMPANY, IN THEIR MEETING HELD ON MAY 13, 2023, EVALUATED ITS PERFORMANCE, THAT OF ITS COMMITTEES AND INDIVIDUAL DIRECTORS, INCLUDING INDEPENDENT DIRECTORS. NO DIRECTOR PARTICIPATED IN HIS/HER OWN EVALUATION. THE INDEPENDENT DIRECTORS REVIEWED THE NON-INDEPENDENT DIRECTORS, CHAIRMAN, AND THE BOARD AT A SEPARATE MEETING OF INDEPENDENT DIRECTORS HELD ON MARCH 27, 2023. THE BOARD OF DIRECTORS WAS EVALUATED ON VARIOUS CRITERIA, INCLUDING ATTENDANCE, PARTICIPATION IN BOARD MEETINGS, INVOLVEMENT BY PROVIDING ADVICE, GUIDANCE, SUGGESTIONS ON THE BUSINESS FRONT, AND THE WILLINGNESS AND COMMITMENT TO DEVOTE THE TIME NECESSARY TO FULFIL HIS/HER DUTIES. THE INDEPENDENT DIRECTORS WERE ALSO EVALUATED BASED ON THE PERFORMANCE, PROFESSIONAL CONDUCT, ROLES, AND DUTIES AS SPECIFIED IN SCHEDULE IV OF THE COMPANIES ACT, 2013, AND BASED ON THE FULFILMENT OF THE INDEPENDENT DIRECTOR CRITERIA AS SPECIFIED IN REGULATION 17 OF SEBI (LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2015. THE BOARD EVALUATION WAS BASED ON COMPOSITION AND STATUTORY COMPLIANCE, UNDERSTANDING BUSINESS RISKS, ADHERENCE TO PROCESS AND PROCEDURES, OVERSEEING MANAGEMENT PROCEDURES FOR ENFORCING CODE OF CONDUCT, ENSURING VARIOUS POLICIES, INCLUDING THE WHISTLE BLOWER POLICY, WERE IN FORCE. THE BOARD OF DIRECTORS IS OF THE OPINION THAT THE INDEPENDENT DIRECTORS POSSESS INTEGRITY, EXPERTISE, AND EXPERIENCE, INCLUDING PROFICIENCY. |