Nomination & Remuneration Committee
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.
- Identifying persons who are qualified to become directors and who may be appointed in senior management in accordance with the criteria laid down and recommend to the board of directors their appointment and removal.
- Whether to extend or continue the term of appointment of the independent director, on the basis of the report of performance evaluation of independent directors.
- recommend to the board, all remuneration, in whatever form, payable to Directors, KMP, Senior Management, i.e. salary, benefits, bonus, stock options etc. and determining policy on service contracts, notice period, severance fees for Directors, KMP and Senior Management;
- reviewing and determining fixed component and performance linked incentives for Directors along with the performance criteria;
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, Ms. Deepa Verma, Chairperson of the Committee, Mr. Yogesh Kapur and Mr. Rajeev Rupendra Bhadauria, members of the Committee.
