Download the Annual Report for 2010-11. - kiocl limited

D. Empowered Board Sub-CommitteeIn order to give additional comfort level to take a decision on any major capitalinvestment which is exceeds CMD’s delegated power and requires Board’s approval,an Empowered Board Sub Committee has constituted. The Committee shall reviewand submit the recommendation on the proposal. During the year 4 (Four) meetingswere held on 3.6.2010, 4.9.2010, 7.10.2010 and 4.3.2011.The composition of the Board Sub-Committee as on 31.3.2011 and the attendance ofthe members at the meeting are as under:Name of Director Meetings held during No. of meetings(S/Shri) respective tenure attendedDr. Chiranjib Sen 4 4B. Ramesh Kumar 4 4Prof. V. R. Sastry 4 2M B Padiyar 4 4Maj. Gen. (Retd.) Dr. O P Soni 1 1E. Committee of DirectorS with an enhanced power to approvethe procurement proposalsDuring 2010-11 three (3) Meetings of Committee of Directors were held on 9.6.2010,18.10.2010 and 20.12.2010.F. Share Transfer CommitteeA Share Transfer Committee consisting of Senior Manager (F&A) and the CompanySecretary is functioning to look into all the transfers, transmissions, splitting and Issueof Duplicate Share Certificates etc. The action taken by the Committee subsequentlyplaced before the Board for ratification. There was no grievance from any of theshareholder during the year.3. Remuneration to Directors and Policy56Being a Central Government Public Sector Enterprise, the appointment, tenure andremuneration of Directors are decided by the Government of India. The Government letterappointing the Chairman & Managing Director and other Functional Directors indicate thedetailed terms & conditions of their appointment, including the period of appointment basicpay, scale of pay, dearness allowance, entitlement to accommodation etc., and it also indicatesthat in respect of other terms & conditions not covered in the letter, the relevant rules ofthe Company shall apply.