Nominations Committee

The nomination committee is headed by an independent director and consists mainly of independent and non-executive Board members with the responsibility of proposing new nominees for appointment to the Board and for assessing the performance and effectiveness of the directors of the Company. The nomination committee, on an annual basis, reviews the required skills mix and expertise that the executive directors as well as independent and non-executive directors bring to the Board and make disclosure of the same in its annual report.

The nomination committee considers only persons of caliber, credibility and who have the necessary skills and expertise to exercise independent judgment on issues that are necessary to promote the company’s objectives and performance in its area of business. This year, the nomination committee noted that Mrs. Kajal Thakker retires by nomination and being eligible, the board has proposed her nomination to the board. This of course is subject to the shareholders re-election of her bid. She brings with her innumerable years of expertise, more-so in the field of Finance, having held the financial dockets of several companies over the years.