Common use of BOARD EVALUATION Clause in Contracts

BOARD EVALUATION. The Company has devised a Policy for performance evaluation of Independent Directors, Board, Committees and other individual Directors which include criteria for performance evaluation of the non-executive directors and executive directors. Pursuant to the provisions of the Schedule IV, clause VIII of the Companies Act, 2013, the Board has carried out an evaluation of its own performance as well as performance of Individual Directors, Committees and Board as a whole. The performance of the Board was evaluated by the Board after seeking inputs from all the directors on the basis of criteria such as the board composition and structure, effectiveness of board process, information and functioning etc. The performance of the committees was evaluated by the board after seeking inputs from the committee members on the basis of criteria such as the composition of committee, effectiveness of committee meetings, etc. The Board and Nomination and Remuneration Committee reviewed the performance of the individual directors on the basis of the criteria such as the contribution of the individual directors to the board and committee meetings like preparedness on the issues to be discussed, meaningful and constructive contribution and inputs in meetings etc in addition, the Chairman was also evaluated on the key aspects of his role. In a separate meeting of Independent directors, performance of Non Independent directors, performance of the board as a whole and performance of the Chairman was evaluated, taking into account the views of executive directors and Non executive directors.

BOARD EVALUATION. The Company has devised a Policy for performance evaluation of Independent Directors, Board, Committees and other individual Directors which include criteria for performance evaluation of the non-executive directors and executive directors. Pursuant to the provisions of the Schedule IV, clause VIII of the Companies Act, 2013, the Board has carried out an evaluation of its own performance as well as performance of Individual Directors, Committees and Board as a whole. The performance of the Board was evaluated by the Board after seeking inputs from all the directors on the basis of criteria such as the board composition and structure, effectiveness of board process, information and functioning etc. The performance of the committees was evaluated by the board after seeking inputs from the committee members on the basis of criteria such as the composition of committee, effectiveness of committee meetings, etc. The Board and Nomination and Remuneration Committee reviewed the performance of the individual directors on the basis of the criteria such as the contribution of the individual directors to the board and committee meetings like preparedness on the issues to be discussed, meaningful and constructive contribution and inputs in meetings etc in etc. In addition, the Chairman was also evaluated on the key aspects of his role. In a separate meeting of Independent directorsDirectors, performance of Non Independent directors, performance of the board Board as a whole and performance of the Chairman was evaluated, taking into account the views of executive directors and Non executive directors.

BOARD EVALUATION. The Company has devised a Policy for performance evaluation of Independent Directors, Board, Committees and other individual Directors which include criteria for performance Annual evaluation of the non-executive directors performance of the Board, its committees and executive directors. Pursuant individual Directors pursuant to the provisions of the Schedule IVAct and the corporate governance requirements as prescribed by SEBI (LODR) Regulations, clause VIII of the Companies Act, 2013, the Board 2015 has been carried out an evaluation of its own performance as well as performance of Individual Directors, Committees and Board as a wholeout. The performance of the Board board was evaluated by the Board after seeking inputs from all the directors on the basis of the criteria such as the board composition and structure, effectiveness of board processprocesses, information and functioning functioning, etc. The performance of the committees was evaluated by the board after seeking inputs from the committee members on the basis of the criteria such as the composition of committeecommittees, effectiveness of committee meetings, etc. The Board and the Nomination and Remuneration Committee reviewed the performance of the individual directors Directors on the basis of the criteria such as the contribution of the individual directors director to the board and committee meetings like preparedness on the issues to be discussed, meaningful and constructive contribution and inputs in meetings etc in addition, the Chairman was also evaluated on the key aspects of his rolemeetings. In a separate meeting of Independent directorsDirectors, performance of Non Independent non-independent directors, and performance of the board as a whole and performance of the Chairman was evaluated, taking into account the views of executive directors and Non non-executive directors. Performance evaluation of independent directors was done by the entire board, excluding the independent director being evaluated. The Board of Directors expressed their satisfaction with the evaluation process. INTERNAL FINANCIAL CONTROL SYSTEM AND THEIR ADEQUACY The Company has adequate system of internal financial control and risk mitigation system commensurate with the size of the Company and nature of its business. Detailed disclosure under the said head shall be included under the head Management Discussion and Analysis Report.