Risk Management Com.

The Board of Directors (“BoD”) of top-100 Indian Listed Companies are to constitute a Risk Management Committee.

Division of Duties: The BoD has the power to define the role and responsibility of the Committee and may delegate monitoring and reviewing of the risk management plan and other functions, it deems fit. [...]

Composition: The majority of the members of the Risk Management Committee are to be the members of the BoD. The Chairperson of the Committee has to be a BoD member, and senior executives of the Company may be members of the Committee.

Appointment/Dismissal Competence: The appointment and removal of a member of the Risk Management Committee is by a Resolution passed by the BoD. An individual ceasing to be a director/employee of the Company automatically ceases to be a member of the Committee.

Alternates: Alternates may be appointed following the same procedure as appointment of an alternate BoD member.

NB! The processes for appointment and dismissal of Risk Management Committee members are not described in more detail at the LCB site.

Cyril Amarchand Mangaldas has provided all inputs about changing board members in India [...]

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