IN TERMS OF THE PROVISIONS OF SECTION 134(3)(P) OF THE COMPANIES ACT, 2013 READ WITH RULE 8(4) OF THE COMPANIES (ACCOUNTS) RULES, 2014, THE NOMINATION AND REMUNERATION COMMITTEE HAS CARRIED OUT THE ANNUAL EVALUATION OF INDIVIDUAL DIRECTORS OF THE COMPANY; AND THE BOARD OF DIRECTORS HAS CARRIED OUT THE ANNUAL EVALUATION OF THE PERFORMANCE OF PERFORMANCE OF THE BOARD AND ITS COMMITTEES AND INDEPENDENT DIRECTORS. FURTHER, INDEPENDENT DIRECTORS ALSO REVIEWED THE PERFORMANCE OF THE NON-INDEPENDENT DIRECTOR AND BOARD AS A WHOLE AND PERFORMANCE OF THE CHAIRMAN. THE EVALUATION SHEET FOR EVALUATION OF BOARD, COMMITTEES AND DIRECTORS/CHAIRMAN WERE CIRCULATED TO THE RESPECTIVE MEETINGS OF THE BOARD, NOMINATION AND REMUNERATION COMMITTEE AND INDEPENDENT DIRECTORS SEPARATE MEETING. THE PERFORMANCE OF THE BOARD IS EVALUATED BASED ON COMPOSITION OF THE BOARD, ITS COMMITTEES, PERFORMANCE OF DUTIES AND OBLIGATIONS, GOVERNANCE ISSUES ETC. THE PERFORMANCE OF THE COMMITTEES IS EVALUATED BASED ON ADEQUACY OF TERMS OF REFERENCE OF THE COMMITTEE, FULFILMENT OF KEY RESPONSIBILITIES, FREQUENCY AND EFFECTIVENESS OF MEETINGS ETC. THE PERFORMANCE OF INDIVIDUAL DIRECTORS AND CHAIRMAN WAS ALSO CARRIED OUT IN TERMS OF ADHERENCE TO CODE OF CONDUCT, PARTICIPATION IN BOARD MEETINGS, IMPLEMENTING CORPORATE GOVERNANCE PRACTICES ETC. THE INDEPENDENT DIRECTORS ARE EVALUATED BASED ON THEIR PARTICIPATION AND CONTRIBUTION, COMMITMENT, EFFECTIVE DEPLOYMENT OF KNOWLEDGE AND EXPERTISE, EFFECTIVE MANAGEMENT OF RELATIONSHIP WITH STAKEHOLDERS, INTEGRITY AND MAINTENANCE OF CONFIDENTIALITY AND INDEPENDENCE OF BEHAVIOUR AND JUDGEMENT. |