Page 118 - Tata_Chemicals_yearly-reports-2020-2021

Integrated Annual Report 2020-21

• Review HR and people strategy and its alignment with Board and Director Evaluation
the business strategy periodically or when a change is In terms of the requirement of the Act and the SEBI Listing
made to either; Regulations, during the year under review, the Board has
carried out an annual performance evaluation of its own
• Provide guidelines for remuneration of Directors on
material subsidiaries. performance, performance of the Directors as well as the
evaluation of the working of its Committees. The exercise
Meetings Held was led by the Chairman of the NRC along with the Chairman
of the Board.
During FY 2020-21, four (4) Meetings of the NRC were held
on the following dates: Criteria for Evaluation
• May 15, 2020 • August 25, 2020 The performance evaluation criteria for Independent
• September 18, 2020 • March 23, 2021 Directors is determined by the Nomination and
Remuneration Committee. An indicative list of factors on
The necessary quorum was present for all the Meetings of which evaluation was carried out includes participation
the Committee.
and contribution by a director, commitment, effective
Composition and Attendance deployment of knowledge and expertise, integrity and
No. of maintenance of confidentiality and independence of
No. of
Name of the Category Meetings Meetings behaviour and judgement.
Member held during attended The procedure followed for the performance evaluation of
tenure the Board, Committees and Individual Directors is detailed in
Dr. C. V. Natraj ID 4 4 the Board’s Report.
(Chairman)
Mr. Bhaskar Bhat @ NED 3 3 Remuneration of Directors
Mr. N. NED 1 1 The Company’s philosophy for remuneration of Directors,
Chandrasekaran ^ Key Managerial Personnel ('KMP') and all other employees
Ms. Vibha Paul Rishi ID 4 4 is based on the commitment of fostering a culture of
Ms. Padmini Khare ID 2 2 leadership with trust. The Company has adopted a Policy for
Kaicker $ remuneration of Directors, KMP and other employees, which
Mr. S. Padmanabhan # NED 2 2
is aligned to this philosophy.
ID - Independent Director; NED - Non-Executive Director
@ Resigned as a Director of the Company w.e.f. November 24, 2020 and The principles governing the Company’s Remuneration
consequently ceased to be a Member of the Committee Policy is provided in the Board’s Report. The said Policy
is also uploaded on the website of the Company at
^ Appointed as a Member of the Committee w.e.f. January 28, 2021
https://www.tatachemicals.com/RemPolicy.htm.
$ Ceased to be a Member of the Committee w.e.f. September 1, 2020
# Appointed as a Member of the Committee w.e.f. September 1, 2020 Executive Directors
The Company pays remuneration by way of salary, benefits,
Dr. C. V. Natraj, Chairman of the NRC, was present at the last perquisites and allowances (fixed component) and
e-AGM held on July 7, 2020. commission (variable component) to its Executive Directors.
The composition and terms of reference of the NRC are in Annual increments are recommended by the NRC within
compliance with the provisions of Section 178(1) of the Act the salary scale approved by the Members of the Company
and Regulation 19 of the SEBI Listing Regulations. and are effective April 1 each year. The NRC recommends
on the commission payable to the Executive Directors out
The Chairman of the NRC briefs the Board at each Board of the profits for the financial year and within the ceilings
Meeting about the significant discussions at the NRC prescribed under the Act based on the performance of the
Meetings. Company as well as that of the Executive Directors.

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