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Terms & Conditions of Appointment of Independent Directors

Part-time Non-official (Independent) Directors are appointed pursuant to the order of the Department of Heavy Industry, Ministry of Heavy Industries & Public Enterprises, Government of India for a period of three years. Independent Directors are required to comply with the requirements of the "Code of Business Conduct & Ethics for Board Members and Senior Management Personnel", "Code of Conduct for Prevention of Insider Trading" and the "Charter for the Board of Directors" approved by the BHEL Board. Independent Directors are also required to observe certain Dos & Don'ts for Independent Directors (approved by the Board of BHEL) in the course in performance of their duties as Independent Directors apart from the requirements and duties enumerated for them in the Companies Act, 2013. Independent Directors are entitled to a sitting fee @ Rs. 30,000/- per Board Meeting and Rs. 20,000/- per Board Level Committee Meeting attended by them. Independent Directors are not eligible for any profit related commission or stock option.

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