In order to oversee new areas of business, proposals for collaborations, Joint Ventures, amalgamation, mergers and acquisitions; commercial matters including marketing etc. a Committee under the Stewardship of Mr. Mahesh Vaidya , an Independent Director has been constituted during the year under review.
The Terms of Reference of the Business Development Committee include the following:
- Review and report to the Board on investment and business development strategies.
- Review tactical plans developed to achieve investment and business development goals set out in the Corporation’s Strategic Plan.
- Review, monitor and report to the Board on investment and business development opportunities.
- Review the economic evaluations of potential investments and business development opportunities.
- Review and recommend for the approval of the Board, the appropriate operating structure for potential investments and business developments.
- Monitor compliance with the External Investment Policy, Processes and Guidelines for Subsidiary Companies, if any and the Significant Transactions Reporting Policy, as well as any other guidelines established by the Company relating to investments and business development.
- Review and monitor Management reports regarding the proper due diligence for any investment or business development to be undertaken.
- Review and recommend for the approval of the Board investments or business development projects and initiatives.
- Review and recommend to the Board for approval the business development aspects of the Company’s annual business plan.
- Review and monitor the monetization of external investments.
- When requested by the Board, review and report on the status and future outlook of existing investments and business developments held by the Company from time to time. Such review should include using approved corporate business plan.
- Review and report to the Board on the effectiveness and timeliness of Management’s execution of specific investments that were approved by the Board.