This Policy is framed as per the requirement of the Listing Agreement entered into by the Company with the Stock Exchanges.
|"Act"||"Act" means The Companies Act, 2013 including the Rules, Schedules, Clarifications, and Guidelines issued by The Ministry of Corporate Affairs from time to time.|
|“Audit Committee”||“Audit Committee” means the Audit Committee constituted by the Board of Directors of the Company from time to time under provisions of Listing Agreement with the Stock Exchanges and the Companies Act.|
|"Board of Directors or Board"||“Board of Directors or Board” means the Board of Directors of the Company.|
|"Company"||“Company” means M.R. Organisation Limited.|
|"Policy"||“Policy” means Policy for determining material subsidiary.|
|"Material subsidiary"||“Material subsidiary” shall mean a subsidiary, whose income or net worth exceeds ten percent of the consolidated income or net worth respectively, of the listed entity and its subsidiaries in the immediately preceding accounting year.|
|"Significant transaction or arrangement"||“Significant transaction or arrangement” means 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.|
|“Subsidiary”||“Subsidiary” means a subsidiary of the company as defined under the Act.|
POLICY AND PROCEDURE
DISPOSAL OF MATERIAL SUBSIDIARY
The Policy shall be disclosed on the website of the Company.
AMENDMENTS TO THE POLICY
The Board of Directors of the Company shall review and may amend this policy from time to time. Any or all provisions of this policy would be subject to the revision/ amendment in accordance with the Rules, Regulations, Notifications, etc. on the subject as may be issued by relevant statutory authorities, from time to time. In case of any amendment(s), clarification(s), circular(s) etc. issued by the relevant authorities, not being consistent with the provisions laid down under this policy, then such amendment(s), clarification(s), circular(s) etc. shall prevail upon the provisions hereunder and this policy shall stand amended accordingly from the effective date as laid down under such amendment(s), clarification(s), circular(s) etc.