Amal Ltd 2019-20

Amal Ltd | Annual Report 2019-2020 i) Qualification : well-educated and experienced in senior leadership positions in industry | profession ii) Traits: positive attributes and qualities iii) Independence: criteria prescribed in Section 149(6) of the Companies Act, 2013 for the Independent Directors, including no pecuniary interest and conflict of interest 14.2.2 Remuneration of the Non-executive Directors Sitting fees: ` 20,000 for attending a Board meeting and Audit Committee meeting, and ` 10,000 for attending any other Committee meeting 14.3 Criteria and method of annual evaluation 14.3.1 The criteria for evaluation of performance of a) the Non-independent Directors (Executive) b) theNon-independentDirectors(Non-executive) c) the Independent Directors d) the Chairman e) the Committees of the Board and f) the Board as awhole are summarised in the table at the end of the Directors’ Report at page number 8. 14.3.2 The Independent Directors have carried out annual: i) review of performance of the Non-independent Directors - Executive, ii) review of performance of the Non-independent Directors - Non-executive, iii) review of performance of the Chairman, iv) assessment of quality, quantity and timeliness of the flow of information to the Board and v) review of performance of the Board as a whole. 14.3.3 The Board has carried out annual evaluation of performance of: i) itsCommittees, namelyAudit, Corporate Social Responsibility, Nomination and Remuneration, Stakeholders Relationship. ii) the Independent Directors. 14.3.4 The templates for the above purpose were circulated inadvance for feedbackof theDirectors. 14.3.5 Familiarisation programs for the Independent Directors. The Company has Familiarisation programs for its IndependentDirectors. It comprises, amongst others, presentations by and discussions with the Senior Management on the nature of the industries in which it operates, its vision and strategy, its organisation structure and relevant regulatory changes. 14.3.6 In the opinion of the Board, the Independent Directors reappointed during the year, possess integrity, rich experience and expertise relevant to the Company. Further, their reappointments are on the basis of the reports of their performance evaluation, expertise and meeting eligibility criteria for Independent Directors under the Act. 15. Key Managerial Personnel and other employees 15.1 Appointments and cessations of the Key Managerial Personnel There were no appointments | cessations of the Key Managerial Personnel during 2019-20. 15.2 Remuneration The Remuneration Policy of the Key Managerial Personnel and other employees consists the following: 15.2.1 Components: i) Fixed pay: a. Basic salary b. Allowances c. Perquisites d. Retirals ii) Variable pay 15.2.2 Factors for determining and changing fixed pay: i) Existing compensation ii) Education iii) Experience iv) Salary bands v) Performance vi) Market benchmark