POLICY FOR DETERMINING MATERIAL SUBSIDIARIES

POLICY FOR DETERMINING MATERIAL SUBSIDIARIES

Introduction

In accordance with the Regulation 16(1)(c) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Company has formulated this policy for determining material subsidiary of the Company.

Scope and Exclusion

This Policy sets out the criteria for determining material subsidiary / subsidiaries

Policy

A subsidiary shall be considered as 'material subsidiary' if its income or net-worth exceeds ten percent of the consolidated income or net-worth respectively, of the Company and its subsidiaries in the immediately preceding accounting year, or such other threshold as may be prescribed under applicable law.

‍