POLICY ON DIVERSITY OF BOARD OF DIRECTORS
VEDANT ASSET LIMITED
Registered Office: 3rd
Floor, Gayways House Pee Pee Compound Ranchi Jharkhand 834001, India
No.: +91- 9304955502 ;
POLICY ON DIVERSITY OF BOARD OF
Board of Directors (“Board”) of Vedant
Asset Limited (“Company”) has decided to consider and formulate a policy on
diversity of the composition of the Board by the name of Policy on Diversity of
Board of Directors (“Policy”). The Policy sets out the approach to have a
diversity on the Board of the Company in terms of thought, experience,
knowledge, perspective, gender, race, ethnicity or cultural background in the
Board, in compliance with the applicable laws, rules and regulations applicable
to the Company.
This policy is largely framed to address the importance of a
diverse Board in harnessing the unique and individual skills and experiences of
the members in a way that collectively benefits the organization and the
business as a whole. The basic essence of the Policy is to provide a framework
for leveraging on the differences within the expertise of the Board, offering a
broad range of perspectives that are directly relevant to the business.
words used in this policy but not defined herein shall have the same meaning
ascribed to it in the Articles of Association of the Company and /or the
Companies Act, 2013 or Rules made there under. In case of any dispute or
difference upon the meaning/interpretation of any word or provision in this
Policy, the same shall be referred to the Committee and the decision of the
Committee in such a case shall be final.
Company believes that a diverse Board will–
a. Enhance the quality of decision making and ensure better
b. Encourage diversity of perspectives thereby fuelling
creativity and innovation.
c. Complement and expand the skills, knowledge and experience
of the Board as a whole.
d. Provide for better Corporate Governance.
A diverse Board will include and make good use of the
differences in the skills, knowledge, industry experience, background, gender,
race, ethnicity, cultural background and other qualities of the individual
members as a whole. All Board appointments will be done on merit, in the
context of skills as required for the areas of our business operations,
management and also expertise in the fields of regulatory, legal, business
development, human capital management, strategic planning, marketing and
NOMINATION AND APPOINTMENT
Nomination and Remuneration Committee (‘Committee’) of the Board shall:
a. Review and assess the composition of the Board.
b. Identify appropriate qualified personnel to occupy Board
c. Suggest appropriate expertise and diversity requirements.
d. Manage the process of recruiting new members to the Board
and defining requisite skills.
e. Ensure that selection process is formal and thorough and
f. Review and report any changes in relation to the diversity
of the Board.
Committee shall also review the Board composition in terms of the size of the
Board, the composition of executive and non-executive directors and the
composition of independent directors, each of which shall being accordance with
the requirements of the Articles of Association of the Company, the Companies
Act, 2013, the Listing Agreements and other statutory / regulatory
MONITORING, TRACKING AND REPORTING
Committee shall support laying down a succession plan and drive the
understanding of talent across the organization and support development program
for the Board. As part of the exercise, it will also plan for the evolution of
non-executive directors over the medium term to maintain appropriate mix of
skills, age and diversity on the basis of gender, race, ethnicity, country of
origin and cultural background.
Company shall make necessary disclosures about the policy as per the
requirements of the Listing Agreement and the Companies Act, 2013. The policy
shall be made available on the website of the Company.
The Board may subject to the applicable
laws amend any provision(s) or substitute any of the provision(s) with the new
provision(s) or replace the Policy entirely with a new Policy.
DISSEMINATION OF THE POLICY
The Company shall disclose the Policy on its website.