annual-report-FY2021

116 COMPANY OVERVIEW BOARD’S REPORT MANAGEMENT DISCUSSION AND ANALYSIS CORPORATE GOVERNANCE BUSINESS RESPONSIBILITY REPORT STANDALONE ACCOUNTS CONSOLIDATED ACCOUNTS Name of the Policy Brief description Summary of key changes made to the Policies during the year Policy for determination of Materiality of any Event/ Information This policy requires the Company to make disclosure of events or information which are material to the Company as per the requirements of Regulation 30 of the Listing Regulations. There has been no change to this policy. Policy for determining Material Subsidiaries The policy is used to identify material subsidiaries of the Company and to provide a governance framework for such material subsidiaries. There has been no change to this policy. Policy on Materiality of and Dealing with Related Party Transactions The policy has been framed in order to regulate all the transactions between the Company and its related parties. There has been no change to this policy. Policy on Appointment of Directors and Senior Management and succession planning for orderly succession to the Board and the Senior Management This policy includes the criteria for determining quali cations, positive attributes and independence of a Director, identification of persons who are qualified to become Directors and who may be appointed in the Senior Management Team in accordance with the criteria laid down in the said Policy, succession planning for Directors and Senior Management, and policy statement for Talent Management framework of the Company. There has been no change to this policy. Policy for remuneration of the Directors, Key Managerial Personnel and other employees This policy sets out the approach of the Company towards the Compensation of Directors, Key Managerial Personnel and other employees in the Company. There has been no change to this policy. Corporate Social Responsibility Policy The Corporate Social Responsibility Policy is aimed inter alia at promoting a unified and strategic approach to CSR across the Company by incorporating under one “Rise for Good” umbrella the diverse range of its philanthropic giving, identifying select constituencies and causes to work with, thereby ensuring a high social impact. The CSR Policy of the Company was amended in line with the amendments made by the Companies (Amendment) Act, 2019, the Companies (Amendment) Act, 2020 and the Companies (Corporate Social Responsibility Policy) Amendment Rules, 2021 by amending definitions viz. meaning of CSR, Ongoing Project, etc. and including a statement containing the approach and direction given by the Board of Directors, taking into account the recommendations of its CSR Committee including Guiding principles for Selection, Implementation, Monitoring of activities and formulation of the Annual Action Plan.