Reliance Drishti One of the welfare programs being run by Reliance Industries Limited

Board Composition
The board comprises of thirteen members. Five of these members , including the Chairman and Managing director Mr. Mukesh D. Ambani, are executive directors. The rest eight are non-executive directors, with seven being independent directors and one, Mr. Ramniklal H. Ambani, non-independent director. The company abides by clause 49 in this setup as more than 50% of the board comprises non-executive, independent directors. None of the independent director has any material relationships or transactions with the company. None of them is related to any promoter, partner or shareholder of the company.

Board of Directors
Chairman and Managing Director Mukesh D. Ambani Executive Directors Nikhil R. Meswani Hital R. Meswani P.M.S. Prasad Pawan Kumar Kapil Non-Executive Directors Ramniklal H. Ambani (Non-Independent) Mansingh L. Bhakta Yogendra P. Trivedi Dr. Dharam Vir Kapur Mahesh P. Modi Prof. Ashok Misra Prof. Dipak C. Jain Dr. Raghunath A. Mashelkar

Board Meetings
The Company holds a minimum of six board meeting all round the financial year. There may be more if the need be.

Attendance of Directors at Board meetings, last Annual General Meeting (AGM) and number of other Directorships and Chairmanships / Memberships of Committees of each Director in various companies

Audit Committee
Yogendra P. Trivedi Independent Director(chairman of the committee) Mahesh P. Modi Independent Director Dr. Raghunath A. Mashelkar Independent Director

All the members of the audit committee possess financial/accounting expertise/exposure. The audit committee meets 6 time in the financial year. Objective: The Audit Committee assists the Board in its responsibility for overseeing the quality and integrity of the accounting, auditing and reporting practices of the Company and its compliance with the legal and regulatory requirements. The Committees purpose is to oversee the accounting and financial reporting process of the Company, the audits of the Companys financial statements, the appointment, independence, performance and remuneration of the statutory auditors including the Cost auditors, the performance of internal auditors andthe Companys risk management policies. Thus the company complies with the rules of Clause 49 for Audit Committee.

Meetings of the Board Level Committees held during the year and attendance of Directors

Remuneration paid to the Chairman and Managing Director and the Whole-time Directors, including Stock Options granted during 2011-12

Sitting fee and commission to the Non-Executive Directors, for 2011-12

Disclosure
In addition to the remuneration of directors, the company has, in its annual report also disclosed: A summary of the forms of related party transactions The accounting principles followed by the company and their adherence to the set rules and regulations. A wide list of product-wise performance, financial performance, future prospects etc. Welfare programs and proceeds generated through them. A guide to effective shareholding patterns. A report on corporate governance. Certificate of compliance to conditions of corporate governance.