Remuneration at Jindal United Steel Limited (“the Company”) is based on the principles of performance, equitableness and competitiveness. This Remuneration Policy has been designed to reflect these principles and to attract, motivate and retain quality manpower for driving the Company successfully.
This Remuneration Policy is based on the requirements of Section 178 of the Companies Act, 2013 and has been recommended by the Nomination and Remuneration Committee to the Board of Directors and approved by the Board of Directors of the Company at its meeting held on October 01, 2016.
This Remuneration Policy applies to the Board of Directors, Key Management Personnel (KMPs) and Senior Management Personnel of the Company.
Jindal United Steel Limited (“Company”) requires that all directors and employees adhere to high ethical standards in business conduct and comply with laws and regulations, Company’s code of conduct and ethics policies as well as with Company policies, practices and procedures. Ethical behavior in the areas of business conduct is of utmost priority to the Company.
The Company is committed to developing a culture to provide adequate safeguards against victimization of employees and directors. The employees, directors and business partners may raise their concerns about unethical behavior, actual or suspected fraud or violation of the Company’s code of conduct or ethics policy. To achieve this, the Company has formulated this policy as a vigil mechanism that will provide a platform to the directors, employees and business partners to report their concerns about unethical behavior, actual or suspected fraud or violation of the Company’s code of conduct or ethics policy or any other grievances.