| AS REQUIRED BY THE COMPANIES ACT, 2013, AND THE LISTING REGULATIONS, AN ANNUAL PERFORMANCE EVALUATION OF THE BOARD IS CONDUCTED TO ENHANCE THE EFFECTIVENESS OF THE BOARD AND ITS COMMITTEES. THIS YEAR, THE INTERNAL BOARD EVALUATION CYCLE WAS COMPLETED, ENCOMPASSING THE ASSESSMENT OF THE BOARD AS A WHOLE, ITS COMMITTEES, AND PEER EVALUATION OF DIRECTORS. THE CHAIRMAN OF THE NOMINATION AND REMUNERATION COMMITTEE LED THIS PROCESS. THE EVALUATION FOCUSED ON VARIOUS ASPECTS OF BOARD AND COMMITTEE FUNCTIONING, SUCH AS COMPOSITION, EXPERIENCE, COMPETENCIES, SPECIAL DUTIES, OBLIGATIONS, AND GOVERNANCE ISSUES. THE EVALUATION CONCLUDED THAT THE BOARD IS FUNCTIONING COHESIVELY AND IS WELL-ENGAGED WITH DIVERSE PERSPECTIVES. ADDITIONALLY, A PERFORMANCE EVALUATION WAS CONDUCTED FOR MR. MANIDEEP KATEPALLI, WHO IS RETIRING BY ROTATION AND HAS OFFERED HIMSELF FOR REAPPOINTMENT. FURTHER, THE PERFORMANCE OF THE INDEPENDENT DIRECTORS WAS EVALUATED BY THE ENTIRE BOARD OF DIRECTORS AND ALL THE INDEPENDENT DIRECTORS FULFILL THE INDEPENDENCE CRITERIA AND ARE INDEPENDENT OF THE MANAGEMENT AS SET OUT IN THE PROVISIONS OF THE COMPANIES ACT, 2013 READ WITH SEBI (LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2015. IN A SEPARATE MEETING OF INDEPENDENT DIRECTORS, PERFORMANCE OF NON-INDEPENDENT DIRECTORS, THE BOARD AS A WHOLE AND THE CHAIRMAN OF YOUR COMPANY WAS EVALUATED, TAKING INTO ACCOUNT THE VIEWS OF THE EXECUTIVE DIRECTORS AND NON-EXECUTIVE DIRECTOR WHO ALSO REVIEWED THE PERFORMANCE OF THE SECRETARIAL DEPARTMENT. THE NOMINATION AND REMUNERATION COMMITTEE REVIEWED THE PERFORMANCE OF INDIVIDUAL DIRECTORS ON THE BASIS OF CRITERIA SUCH AS THE CONTRIBUTION OF THE INDIVIDUAL DIRECTOR TO THE BOARD AND COMMITTEE MEETINGS LIKE PREPAREDNESS ON THE ISSUES TO BE DISCUSSED, MEANINGFUL AND CONSTRUCTIVE CONTRIBUTION AND INPUTS IN MEETINGS, ETC. |