MAHINDRA & MAHINDRA LTD. Board’s Report 133 Sr. No. Name of the Policy Brief description Summary of key changes made to the Policies during the year 6. 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. The Policy has been amended to align with the amendments made to the Listing Regulations pertaining to change in the definition of Material Subsidiary, Secretarial Audit for Material Unlisted Indian Subsidiary by Peer Reviewed Company Secretary and Exemption of Special Resolution in case of sale, disposal or lease of assets between two Wholly Owned Subsidiaries. 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 amendments to the provisions under Listing Regulations covering certain carve outs given to Corporate Actions, Retail Purchases, Deposits, Remuneration to Directors, Key Management Personnel and Senior Management Personnel and Ratification of Related Party Transactions (RPTs) by Audit Committee, etc. 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 pertaining to change in definition of ‘Senior Management’ and ‘Vacancy in the Office of Director’. 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 FY25. 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 or such period as may be specified by SEBI, from the date of hosting. There has been no change to this policy.
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