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 Twenty per cent of its Consolidated Net Worth as per the audited balance sheet of the previous financial year or if the subsidiary has generated Twenty per cent of the consolidated income of the Company during the previous financial year.
