Nava Bharat Ventures Limited

Terms and Conditions of Appointment of Independent Directors

Criteria of making payment of commission to Non-Executive Directors

With the growth in size, scale and complexity of the Company’s operations and the level of involvement of the Non-Executive Directors and Independent Directors in the supervision and control of the Company and their guidance for the growth of the Company as Members of the Board and also as Chairman and Members of the Committees of the Board, the role of Non-Executive/ Independent Directors on the Board has undergone significant qualitative change and is expanding. They have to devote considerable time and they all are highly qualified and experienced professionals.

Hence the Company pays commission to all Non-Executive Directors as may be decided by the Board of Directors from time to time subject to the approval of the shareholders.