11 a) Qualification: well-educated and experienced in senior leadership positions in industry | profession. b) Traits: positive attributes and qualities. c) Independence: criteria prescribed in the Act and the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (the Regulations), for the Independent Directors, including no pecuniary interest and conflict of interest. 16.2.2 Remuneration of the Non-executive Directors a) Sitting fees: up to ` 40,000 for attending a Board, Committee and any other meeting b) Commission: up to 1% of net profit as may be decided by the Board based in the following factors. i) Profit ii) Attendance iii) Category (Independent or Non-executive) 16.2.3 Remuneration of the Managing Director This is given under para number 17.2. 16.3 Criteria and method of annual evaluation 16.3.1 The criteria for evaluation of the performance of a) the Executive Directors, b) the Non-executive Directors (other than Independent Directors), c) the Independent Directors, d) the Chairman, e) the Committees of the Board and f) the Board as a whole are summarised in the table at the end of the Directors’ Report at page number 13. 16.3.2 The Independent Directors have carried out annual: a) review of the performance of the Executive Director b) review of the performance of the Non-executive Directors (other than Independent Directors) c) review of the performance of the Chairman, assessment of quality, quantity and timeliness of the flow of information to the Board and d) review of the performance of the Board as a whole. 16.3.3 The Board has carried out an annual evaluation of the performance of: a) its committees, namely, Audit, Corporate Social Responsibility, Nomination and Remuneration and Stakeholders Relationship b) the Independent Directors The templates for the above purpose were circulated in advance for feedback from 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 Managerial Personnel and other employees 17.1 Appointments and cessations of the Key Managerial Personnel There were no appointments | cessations of the Key Managerial Personnel during 2023-24. 17.2 Remuneration The Remuneration Policy of the Key Managerial Personnel and other employees consist of the following: 17.2.1 Components: a) Fixed pay i) Basic salary ii) Allowances
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