Code of Corporate Governance

Key elements of the Directors’ Remuneration Policy.

The Remuneration Policy of the Company aims to set out the requirements and methodology for the determination of the scale of the remuneration to be paid, from time to time, to the Chairman and other Directors for attending the Board and its Committees meetings. It ensures that the Board Members are fairly rewarded with regard to their respective responsibilities undertaken, and also to attract and retain high caliber, experienced directors by offering appropriate remuneration levels commensurate with their expertise, skill and experience. The Remuneration Policy has been formulated with clear mandate and charter, keeping in view the ownership structure, governance mechanism, risk profile, scope of operations and performance of the Company.