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.

In view of demerger of the company and transfer of manufacturing, financial services and wind farm undertakings of the company to new companies, the board of directors of the company have decided in its meeting held on 30 January, 2008 that the non-executive directors shall be only paid sitting fees of Rs.20,000/- for every meeting of the board or committee thereof attended by them, until decided otherwise by the board of directors of the company.