Material Subsidiary Policy

This policy is framed as per the requirement of the explanation to Clause (C) of sub regulation 1 of Regulation 16 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (SEBI Listing Regulations, 2015) as amended by SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2018 and is intended to determine the Material Subsidiaries of the Company and provide the governance framework for such subsidiaries.