A statement of the Boards, councils, committees and other bodies consisting of two or more persons constituted as its part or for the purpose of its advise, and as to whether meetings of those boards, councils, committees and other bodies are open to the public, or the minutes of such meetings are accessible for public

Board of Directors and Committee Composition

The Company’s Board presently comprises 6 members. Chairman and Managing Director is an Executive Director and all other Directors are Non-Executive Directors.

The Board has constituted the following committees of the Directors:

Management Committee

The committee is constituted to review the performance of the Company on regular basis

Audit Committee

The committee has the powers and functions as delegated by the Board from time to time in line with the provision of the Companies Act, 1956 and listing agreement.

Committee on Succession Plan

The committee has been vested with powers to implement succession plan at Senior Management level

Shareholder’s / Investor’s Grievance Committee

The committee deals with investors grievances pertaining to shares related matter

Further various adhoc committees are constituted internally on need basis.

While decision taken or minutes of the meeting of the Board of Directors are not accessible by the public, important decisions regarding the company and/or its management are being communicated to the statutory authorities as also to the public as required under listing agreement. However minutes of the General Meetings (AGM / EGM) are available to the shareholders of the Company.

Term / Tenure

Committees formed since inception and Members of the Committee will change only as per the Government Order

Powers and Functions

Full Time Director : Chairman and Managing Director

Additional Charge : Director Technical

Nominee Directors : Government of India

Nominee Directors : NICO (National Iranian Oil Company) And Independent Directors