Terms of reference for Nomination & Remuneration Committee

a)To review and make recommendations on annual salaries, performance linked incentives, stock options, perquisites and other employment conditions for Executive Directors.

b)To recommend induction of Directors/Executive Directors on the Board.

c)To take into consideration remuneration practices followed by leading companies while determining the overall remuneration package. Non-executive Directors are paid remuneration by way of Sitting Fees. The payment of Commission is decided broadly on the basis of their respective contribution to the Company and overall performance of the Company.