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Category of Directors number of Directors Percentage to the Board

Executive (Managing Director) 1 13%
4
Independent, Non-Executive (Including one woman 50%
director)
3
Non-Independent, Non-Executive 37%
(Including chairman)
Table 1: The Board structure as on 31st March 2016

inculcating dynamism and entrepreneurship at all of the Board, which have been delegated adequate
levels in the Company. powers to discharge urgent businesses of the
Company.
Above all, we believe that corporate governance
must balance individual interest with corporate 1. Audit Committee
goals and operate within accepted norms of The terms of reference of the Audit Committee are
propriety, equity, fair play and a sense of justice. in accordance with Section 177 of the Companies
Accountability, integrity and transparency are Act, 2013 and the Listing Agreement with the Stock
key drivers to improve decision-making, create Exchanges. It also discharges such other functions
credibility and strengthen stakeholder confidence. as may be delegated by the Board from time to time.
Apart from this, the Audit Committee also reviews:
BOARD Of DIReCtORS • The contracts entered into by the Company
As the highest decision-making body in our related to traded products, valuing more than
organization, our Board relentlessly pursues ` 250 million and the contracts entered in the
long-term corporate values and sets the strategic register maintained under section 189 of the
framework for growth. As on March 31, 2016, Companies Act, 2013, if any; and
the Board comprised eight directors, including a • Status of material claims filed against the
Managing Director. Out of the seven non-executive Company.
directors of the Company, four are independent
directors, including one woman director. The non-
executive directors bring an independent and wider
perspective in Board deliberations and decisions.
They have an objective view of the external factors
affecting the Company in our business environment.
These directors make a constructive contribution to
the Company by ensuring fairness and transparency
while evaluating the business plans devised by the
management team.

COMMItteeS Of the BOARD
The Board of Directors review the performance
of the Company from time to time. To ensure
timely and effective working of the Board and
the Company, various committees have been
constituted with specific terms of reference and
scope. The committees operate as empowered
agents of the Board. There are eight committees

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