9 i) its committees namely Audit, Corporate Social Responsibi l i ty, Nominat ion and Remuneration and Stakeholders Relationship ii) the Independent Directors The templates for the above purpose were circulated in advance for feedback of the Directors. 16.4 Familiarisation programs for the Independent Directors The Company has familiarisation programs for its Independent Directors. 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. 17. Key Manager ial Personnel and other employees 17.1 Appointments and cessations of the Key Managerial Personnel Mr Rajeev Kumar has been reappointed as a Managing Director for a period of five years, effective March 24, 2022, subject to approval of the members. 17.2 Remuneration The Remuneration Policy of the Key Managerial Personnel and other employees consists of the following: 17.2.1 Components: i) Fixed pay a) Basic salary b) Allowances c) Perquisites d) Retirals ii) Variable pay 17.2.2 Factors for determining and changing fixed pay: i) Existing compensation ii) Education iii) Experience iv) Salary bands v) Performance vi) Market benchmark 17.2.3 Factors for determining and changing variable pay: i) Business performance ii) Individual performance iii) Grade 18. Analysis of remuneration The information required pursuant to Sections 134(3)(q) and 197(12) of the Companies Act, 2013 read with Rule 5 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 is given at page number 18. The Company is not required to disclose the information required as therewere no employees dur ing 2021-22 drawing remunerat ion exceeding the limit specified. 19. Management Discussion and Analysis The Management Discussion and Analysis cover ing per formance is given at page number 19. 20. Corporate Governance Report 20.1 Statement of declarat ion given by the Independent Directors The Independent Di rectors have given declarations under Section 149(6) of the Companies Act, 2013. 20.2 Report The Corporate Governance Report is given at page number 20. Details about the number of meetings of the Board held during 2021-22 are given at page number 25. The composition of the Audit Committee is given at page number 28.
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