Policy on Material Subsidiary

In terms of Reg. 16 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Policy on Material Subsidiary is framed to determine the Material Subsidiaries of the Company and to provide the governance framework for such subsidiaries.

A subsidiary shall be considered as Material if the investment of the Company in the subsidiary exceeds Ten per cent of its Consolidated Net Worth as per the audited balance sheet of the previous financial year or if the subsidiary has generated Ten per cent of the consolidated income of the Company during the previous financial year.

The Policy to determine the Material Subsidiaries of the Company is elaborated in the link below: