Board Committees

In keeping with the requirements of corporate governance contained in the Listing Agreement, Committees of the Board have been constituted as follows:

Audit Committee

The Audit Committee was constituted at the meeting of the Board held on February 10, 2011 to ensure the objectivity, credibility and correctness of the Company's financial reporting and disclosure processes, internal controls, risk management policies and processes, tax policies, compliance and legal requirements and associated matters. The Audit Committee consists of Nithin Bagamane as Chairman, Dr. Arjun Kalyanpur, Salil Baldev Taneja, Nandita Lakshmanan and Mohib N. Khericha as members of the committee.

Share Allotment, Transfers and Investor Grievance committee

The Share Allotment, Transfers and Investor Grievance committee was constituted by our Directors at the meeting of the Board held on February 10, 2011. The Share Allotment, Transfers and Investor Grievance committee is responsible for the redressal of shareholder grievances. The Share Allotment, Transfers and Investor Grievance committee consists of Salil Baldev Taneja as the Chairman, Dr. Arjun Kalyanpur, Nandita Lakshmanan and Mohib N. Khericha as the member of the committee.

Remuneration Committee

The Remuneration Committee was constituted by our Directors at the meeting of the Board held on February 10, 2011. The Remuneration Committee consists of Dr. Arjun Kalyanpur as the Chairman, Salil Baldev Taneja, Nandita Lakshmanan and Mohib N. Khericha as members of the committee. The terms of reference of the Remuneration Committee includes determination on behalf of the Board and the shareholders, the company's policy on specific remuneration packages for Executive Directors including pension rights and any compensation payments;