Last checked at 25 Mar 2022 16:11
March 25, 2022
London Stock Exchange
London
Dear Madam, Sir,
Appointment/Re-appointment of Independent Director(s)
This is with reference to our intimation(s) dated August 12, 2021 and October 12, 2021 regarding the appointment of Ms. Farida Khambata (DIN: 06954123) and Mr. David W. Crane(DIN: 09354737) as Additional Director(s) (Non-Executive, Independent) of Tata Steel Limited ('the Company'), subject to approval of the Shareholders.
Further, based on the recommendation of the Nomination and Remuneration Committee (NRC) and the Board of Directors, the Shareholders of the Company at the 110th Annual General Meeting held on August 8, 2017 had appointed Mr. Deepak Kapoor (DIN: 00162957) as an Independent Director for a first term of 5 years commencing April 1, 2017 through March 31, 2022.
In connection with the above, and based on the recommendation of the NRC, the Board of Directors of the Company considered and recommended the following for approval of shareholders through postal ballot:
a. Appointment of Ms. Farida Khambata as an Independent Director for first term commencing August 12, 2021 through December 10, 2024,
b. Appointment of Mr. David W. Crane as an Independent Director for first term commencing October 11, 2021 through October 10, 2026, and
c. Re-appointment of Mr. Deepak Kapoor as an Independent Director for a second term of 5 years effective April 1, 2022 through March 31, 2027.
The Shareholders of the Company, by way of Postal Ballot, have today i.e., March 25, 2022, approved the appointment of Ms. Khambata, Mr. Crane and re-appointment of Mr. Kapoor as Independent Director(s) of the Company.
We confirm that the above Directors meet the criteria of 'independence' under Section 149 of the Companies Act, 2013 and Regulation 16 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended. Further, they have not been debarred from holding office of Director by virtue of any Order passed by the Securities and Exchange Board of India or any other such authority. Further, there are no inter-se relationship between Ms. Khambata, Mr. Crane, Mr. Kapoor and the other Members of the Board.
Background of Ms. Khambata, Mr. Crane and Mr. Kapoor is provided in the Postal Ballot Notice of the Company disseminated to the exchanges on February 21, 2022.
This disclosure is being made pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.
This is for your information and records.