Composition of Board of Directors and Committee

Policy on Composition of Board of Directors and Committees


 The Company recognizes the importance and benefits of having the diverse Board to enhance quality of its performance.

 2.Policy Statement

 The Company believes that a diverse Board will enhance the quality of the decisions made by the Board by utilizing the different skills, qualification, professional experience, gender, knowledge etc. of the members of the Board of Directors (Board), necessary for achieving sustainable and balanced development. For appointments of persons to office of directors and deciding composition of the Board, the Nomination and Remuneration Committee (NRC) and the Board shall also have due regard to this policy on Board diversity. In this process the NRC /Board will take into consideration qualification and wide experience of the directors in the fields of banking, finance, regulatory, administration, and legal, commercial vehicle segment apart from compliance of legal and contractual requirements of the Company. The total number of directors constituting the Board shall be in accordance with the Articles of Association of the Company. The Board of directors of the Company shall have an optimum combination of executive and non-executive directors with at least one woman director and the composition of the Board shall be in accordance with requirements of the Articles of Association of the Company, the Companies Act,2013, SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and the statutory, regulatory and contractual obligations of the Company.

 3.Review of Policy

 The NRC will review the policy from time to time and make recommendations on any required changes to Board for consideration and approval