Policy for remuneration to Non Executive Directors

Non-executive directors of the company play a crucial role to the independent functioning of the board. They bring in external and wider perspective to the decision-making by the board. They provide leadership and strategic guidance, while maintaining objective judgment. They also help the company in ensuring that all legal requirements and corporate governance are well taken care of.

The non-executive directors are paid sitting fees of Rs.20,000/- for every meeting of the board or committee thereof attended by them.

Apart from sitting fees & reimbursement of traveling expenses for their attending the board and committee meetings, no payment by way of commission, bonus, pension, incentives etc. is paid to any of the non-executive directors. The company has no stock options, plans and hence, such instruments do not form part of remuneration package payable to non-executive directors.