Duties of the Nomination & Remuneration Committee would be as under:
- To recommend to the Board, the remuneration packages of Managing/Joint Managing/Whole time /Executive Directors of the Company, including all elements of remuneration package (i.e. salary, benefits, bonuses, perquisites, commission, incentives, stock options, pension, retirement benefits, details of fixed component and performance linked incentives along with the performance criteria, service contracts, notice period, severance fees etc.);
- To be authorized at its duly constituted meeting to determine on behalf of the Board of Directors and on behalf of the shareholders with agreed terms of reference, the Company's policy on specific remuneration packages for Company's Managing/Joint Managing/ Deputy Managing/ Whole time/ Executive Directors, including pension rights and any compensation payment;
- To devise a policy on diversity of Board of Directors
- To formulate and recommend a policy to extend or continue the term of appointment of the independent director, on the basis of performance evaluation of independent directorsand to approve and pay sitting fees, if any.
- Such other matters as may from time to time be required by any statutory, contractual or other regulatory requirements to be attended to by such committee. "