The policy on Board Diversity sets out the approach to diversity on the Board of directors of Khadim India Limited. (“The Company”) to enrich the member composition of the Board with diversified talent and knowledge. The prime object is to enhance the contribution or value addition to the Company.
The need for the policy is as follows:
In order to achieve the previously mentioned multiple objectives, the Board has formulated this Policy on board diversity to provide direction and guidance to the nomination and remuneration committee while identifying suitable candidates to at the board level as and when required.
The Company recognizes and embraces the benefits of having a diverse Board that possesses the balance of skills, experience, expertise, and diversity of perspectives appropriate to the requirements of the businesses of the Company. The Company believes increasing diversity at Board level as an essential element in maintaining a competitive advantage. A truly diverse Board will include and make good use of differences in the skills, regional and industry experience, background, race, gender and other distinctions between directors. These differences will be considered in determining the optimum composition of the Board and when possible should be balanced appropriately.
In the process of attaining, a diverse Board based on the aforementioned criteria, the following criteria needs to be assessed:
The Nomination and Remuneration Committee (‘NRC’) of the Company shall review and assess Board composition on behalf of the Board and shall recommend to the Board, the appointment of new directors based on their qualification, positive attributes and independence. In reviewing Board composition, NRC will consider the benefits of all aspects of diversity including, but not limited to, those described above, in order to enable it to discharge its duties and responsibilities effectively.
The NRC will review the policy annually, which will include an assessment of the effectiveness of the policy. The NRC will discuss any revision that may be required and recommend any such revisions to the Board for approval.
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