MAHINDRA & MAHINDRA LTD. Integrated Annual Report 2023-24 142 Sr. No. Name of the Policy Brief description Summary of key changes made to the Policies during the year 7. Policy on Materiality of and Dealing with Related Party Transactions The policy has been framed in order to regulate all Related Party Transactions of the Company. The Policy has been amended to inter alia align with the provisions under Listing Regulations which were applicable with effect from 1st April, 2023. 8. 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 qualifications, 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. The Policy has been amended to inter alia align with the amendment to the Listing Regulations including definition of ‘Senior Management’. 9. 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. 10. 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 to include in Annexure-1 of the CSR Policy, the CSR Projects undertaken by the Company in the Financial Year 2023-24. 11. Archival Policy As per the policy, the events or information which has been disclosed by the Company to the Stock Exchanges pursuant to Regulation 30 of the Listing Regulations shall be hosted on the website of the Company for a period of 5 years from the date of hosting. There has been no change to this policy. 12. Business Responsibility & Sustainability Policy The objective of this policy is to ensure a unified and common approach to the dimensions of Business Responsibility across M&M and Group companies, act as a strategic driver that will help all Group Companies respond to the complexities and challenges that keep emerging and be abreast with changes in regulations. The Policy was amended in order to align it with the new principles in the National Guidelines on Responsible Business Conduct (“NGRBC”), 2018 and Listing Regulations. 13. Safety, Occupational Health and Environment Policy The vision of the policy is to sustain zero incident, zero occupational health hazard and pollution free working environmental organization. There has been no change to this policy. 14. Policy on Prevention of Sexual Harassment The policy on Sexual Harassment is for Redressal of complaints received regarding sexual harassment and compliance of other provisions as per the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013. The Company in its good governance has extended the same to male employees also. There has been no change to this policy.
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