The Committee consists of the following Independent Non-Executive Directors:

• Dr. F.C. Kohli - Chairman
• Lt. Gen. K.K. Hazari (Retd.)
• Mr. R.C. Sharma

The broad terms of reference of the Committee are to evaluate performance, determine & recommend to the Board on specific remuneration packages for the Chairman & Managing Director (CMD) and Executive Directors (EDs) including pension rights and any compensation payment to them. The Remuneration Committee also recommends the annual increments within the salary scale approved by the Members as also the Performance Bonus payable to CMD and EDs, within the ceilings on net profits prescribed under Section 198 and 309 of the Companies Act, 1956.