STATUTORY REPORTS | Corporate Governance Report 205 Board Committee Memberships: Sr. No. Name of the Company Name of the Committee(s) Position held 1. Mahindra & Mahindra Limited Strategic Investment Committee Member Risk Management Committee Member 2. Mahindra Accelo Limited Nomination & Remuneration Committee Member 3. Mahindra Steel Service Centre Limited Audit Committee Chairman Nomination and Remuneration Committee Member Corporate Social Responsibility Committee Chairman 4. Schneider Electric President Systems Limited Audit and Risk Management Committee Chairman Stakeholders Relationship Committee Chairman Nomination and Remuneration Committee Member He does not hold any Ordinary (Equity) Shares and Non-convertible instruments of the Company. He has not resigned as a Director from any listed entity in the past three years. He is not related to any other Director or Key Managerial Personnel of the Company. Mr. Sat Pal Bhanoo [Non-Executive Director – Nominee of LIC] Mr. Sat Pal Bhanoo served as the Managing Director of Life Insurance Corporation of India (‘LIC’) from July 2023 to December 2025. He joined LIC as Special Batch Direct Recruit Officer in October 1988. He holds a Bachelor’s Degree in History (Honors) from Himachal Pradesh University, Shimla. He has a varied and rich marketing experience. He served LIC in various roles as Zonal Manager (Central Zone), Additional Director, Zonal Training Centre (Bhopal), Regional Manager (P&IR), North Zone (Delhi). He was In-charge of Bangalore – I and Shimla Divisions steering LIC through a challenging climate and leading to consistent growth of business under dynamic market conditions. Wherever he had been posted, he fostered a culture of human resource development and empowerment, resulting in a highly motivated and skilled workforce, committed to the Corporation’s mission and values. As Chief (Marketing-SBA), he looked after the Marketing portfolio of Senior Business Associates & Life Insurance Corporation Associates as well, with a focus on revolutionizing marketing activities and empowering them. He is also a Nominee Director in IDBI Bank Limited and also serves as a Chairman (Nominee Director) of Life Insurance Corporation (LIC) of Bangladesh Limited and Chairman and Director of LIC (Singapore) Pte Limited. He has completed 60 years of age. Board Committee Memberships: Sr. No. Name of the Company Name of the Committee(s) Position held 1. Mahindra & Mahindra Limited Strategic Investment Committee Member He does not hold any Ordinary (Equity) Shares and Nonconvertible instruments of the Company. He ceased to be Managing Director of Life Insurance Corporation of India, Nominee (Associate) Director of LIC Mutual Fund Trustee Private Limited and Director of LIC Card Services Limited, after his retirement from the service of LIC with effect from 31st December 2025. However, he continues to be a Nominee Director representing Life Insurance Corporation of India on the Board of the Company. He has not resigned as a Director from any listed entity in the past three years. He is not related to any other Director or Key Managerial Personnel of the Company. L. Induction and Familiarisation Programme for Independent Directors Your Company has established a comprehensive induction and familiarisation programme for newly appointed Independent Directors. This programme is meticulously designed to familiarise the Independent Directors with their roles by providing them with a deep understanding of the Company’s operations, strategy, procedures and regulatory environment. Upon appointment, each Independent Director is provided with an appointment letter along with their roles, duties & responsibilities along with the Company’s Code of Conduct for Directors. They are taken through an induction
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