For the purpose of this policy:-
“Holding Company” means, as per the provisions of Section 2(46) of the Companies Act, 2013, Holding Company, in relation to one or more companies’ means a company of which such companies are subsidiary companies. For the purpose of this Policy, Holding Company means “Chadha Papers Limited”
“Subsidiary Company” as per the provisions of Section 2(87) of the Companies Act, 2013 read with Rule 2(r) of Companies (Specification of Definitions Details)Rules, 2014, “subsidiary company” or “subsidiary”, in relation to any other company (that is to say the Holding Company), means a company in which the Holding Company—
(i)Controls the composition of the Board of Directors; or
(ii)Exercises or controls more than one-half of the “total share capital” (i.e., aggregate of the :
(a)paid up equity share capital and
(b)convertible preference share capital) either at its own or together with one or more of its subsidiary companies.
“Board or Board of Directors” means Board of Directors of the Company including Executive, Non-Executive, Nominee and Independent Directors.
“Policy” means Policy on material subsidiaries.
“Material Subsidiary” means a Subsidiary in which the investment of the Company exceeds 20% of its consolidated net worth as per the audited balance sheet of the previous financial year or if the Subsidiary has generated 20% of the consolidated income of the Company during the previous financial year.
“Material Non-Listed Indian Subsidiary” means an unlisted subsidiary, incorporated in India, whose income or net worth (i.e. paid up capital and free reserves) exceeds 20% of the Consolidated income or net worth respectively, of the Listed Holding Company and its Subsidiaries in the immediately preceding accounting year. “
“Significant Transaction or Arrangement” shall mean any individual transaction or arrangement that exceeds or is likely to exceed 10% of the total revenues or total expenses or total assets or total liabilities, as the case may be, of the Material Unlisted Subsidiary for the immediately preceding accounting year.
“Audit Committee” means the Audit Committee as constituted by the Board of Directors of the Company under the provisions of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 and Companies Act, 2013.