DRIVIN G ROWTH - Dr. Reddy's
DRIVIN G ROWTH - Dr. Reddy's
DRIVIN G ROWTH - Dr. Reddy's
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the Committee. The Investment Committee<br />
reviews the Company’s investment<br />
proposals and ongoing projects, and invests<br />
surplus funds arising out of the daily<br />
business of the Company. The Committee<br />
held two meetings during the year on<br />
December 19, 2001 and February 22, 2002.<br />
All members of the Committee attended<br />
each meeting.<br />
6. COMPENSATION COMMITTEE<br />
THE COMPENSATION Committee was<br />
constituted on January 29, 2002, to<br />
administer the Company’s Employee Stock<br />
Option Scheme (ESOS). The Committee<br />
consists of the following Directors:<br />
■ Ravi Bhoothalingam (Chairman)<br />
■ <strong>Dr</strong>. A Venkateswarlu<br />
■ P N Devarajan<br />
■ G V Prasad<br />
■ Satish Reddy<br />
The Company Secretary is the Secretary to<br />
the Committee. The Compensation<br />
Committee met once during the year on<br />
January 29, 2002 and all members of the<br />
Committee attended the meeting.<br />
This Committee has developed<br />
detailed guidelines for the grant of ESOS<br />
to the employees of the Company as<br />
well as its subsidiaries. The salient<br />
features of ESOS are:<br />
■ Grant of options has been linked to<br />
performance — to be granted on the basis of<br />
the appraisal process fixed by the Committee.<br />
■ Vesting period to be decided by the<br />
Committee (minimum vesting period is 12<br />
months).<br />
■ The exercise price will in no case be less than<br />
the weighted average price of 30 days of the<br />
shares on the BSE on the date of grant.<br />
■ Situations of expiry of options specified in the<br />
scheme.<br />
■ Complies with all provisions of SEBI and<br />
Income Tax guidelines issued in this regard.<br />
■ The Committee has been authorised to allot<br />
shares as and when any optionee exercises its<br />
option.<br />
■ The Committee has been authorised to<br />
complete the listing formalities in respect of<br />
shares allotted under the scheme, vary the<br />
terms and conditions of ESOS, so long as<br />
these are not detrimental to the interest of<br />
the employees.<br />
responsibility of management<br />
THE MANAGEMENT OF<br />
<strong>Dr</strong>. Reddy’s has developed and implemented<br />
policies, procedures and practices that<br />
attempt to translate the Company’s purpose<br />
and mission into reality. The management<br />
also identifies, measures, monitors and<br />
DR. REDDY’S LABORATORIES LTD. | CORPORATE GOVERNANCE | ANNUAL REPORT 2001-2002<br />
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