The Company constituted the Nomination and Remuneration Committee in line with the requirement of Section 178 of Companies Act, 2013, read with Regulation 19 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
The role of Nomination and Remuneration Committee is as follows:
- Formulation of the criteria for determining qualifications, positive attributes and independence of a director and recommend to the Board of directors a policy relating to, the remuneration of the directors, key managerial personnel and other employees.
- Formulation of criteria for effective evaluation of performance of the Board, Independent Directors and other individual directors and review its implementation and compliance thereof.
- Devising a policy on diversity of board of directors.
The Committee also plays a role of a Compensation Committee and is responsible for administering the Stock Option Plan and Performance Share Plan of the Company and determining eligibility of employees for stock options.
Composition
The Nomination and Remuneration Committee comprises of three Non- Executive cum Independent Directors, Mr. Rajeev Rupendra Bhadauria, Independent Director and Chairperson of the Committee, Mr. Yogesh Kapur, Independent Director and Ms. Richa Arora, Independent Director as members of the Committee.