BOARD COMMITTEES

Audit Committee

The composition of the Audit Committee of Baazar Style Retail Limited comprises of two Non-Executive Independent Directors and one Executive Whole Time Director. The Audit Committee assists the Board in fulfilling their oversight responsibilities with respect to the integrity of financial reporting, ensure compliance with laws and regulations, and strengthen internal control systems within the organisation. The Audit Committee functions as per applicable laws and terms of reference.

Presently the Composition of the Audit Committee comprises of the following members:

Nomination & Remuneration Committee

The composition of the Nomination & Remuneration Committee of Baazar Style Retail Limited comprises of three Non-Executive Independent Directors. The Nomination & Remuneration Committee assists the Board in fulfilling their oversight responsibilities with respect to composition of the Board of Directors, determination of appropriate skills, experience, and diversity to effectively oversee the company’s operations and strategic direction. Additionally, the Nomination & Remuneration Committee focuses on establishing fair and transparent processes for determining the remuneration and compensation packages of the Board Members, Senior Managerial Personnel, and Key Management Personnel. The Nomination & Remuneration Committee functions as per applicable laws and terms of reference.

Presently the Composition of the Nomination & Remuneration Committee comprises of the following members:

Stakeholders Relationship Committee

The composition of the Stakeholders Relationship Committee of Baazar Style Retail Limited comprises of one Non-Executive Independent Directors, one Whole Time Director and one Managing Director. The Stakeholders Relationship Committee assists the Board in fulfilling their oversight responsibilities in effectively managing and enhancing the relationship between the organization and its various stakeholders, including shareholders, customers, employees, suppliers, local communities, and regulators. The Stakeholders Relationship Committee focuses on understanding stakeholder expectations, addressing their concerns, and fostering open communication channels to build trust and support for the organization. The Stakeholders Relationship Committee functions as per applicable laws and terms of reference.

Presently the Composition of the Stakeholders Relationship Committee comprises of the following members:

Risk Management Committee

The composition of the Risk Management Committee of Baazar Style Retail Limited comprises of one Non-Executive Independent Director, one Managing Director and one Chief Financial Officer. The Risk Management Committee assists the Board in fulfilling their oversight responsibilities by oversighting and managing the organization’s approach in identifying, assessing, mitigating, and monitoring risks that could impact the organisation’s operations, objectives, and stakeholders. The RMC focuses on developing and implementing strategies and processes to effectively manage risks across various areas of the organization. The Risk Management Committee functions as per applicable laws and terms of reference.

Presently the Composition of the Risk Management Committee comprises of the following members:

Corporate Social Responsibility Committee

The composition of the Corporate Social Responsibility Committee of Baazar Style Retail Limited comprises of one Non-Executive Independent Director, one Whole Time Director and one Managing Director. The Corporate Social Responsibility Committee assists the Board in fulfilling their oversight responsibilities with the organization’s Corporate Social Responsibility initiatives and ensures that the organisation operates in a socially responsible manner, considering the impact of its activities on society, the environment, and stakeholders beyond shareholders. The Corporate Social Responsibility Committee functions as per applicable laws and terms of reference.

Presently the Composition of the Corporate Social Responsibility Committee comprises of the following members:

Committee of Directors

The composition of the Committee of Directors of Baazar Style Retail Limited comprises of three Whole Time Directors and one Managing Director. The Committee of Directors has been constituted pursuant to Section 179(3) of the Companies Act, 2013. The Committee of Directors functions to streamline decision-making, enhance efficiency, and ensure effective governance within the company. The Committee of Directors functions as per applicable laws and terms of reference.

Presently the Composition of the IPO Committee comprises of the following members:

Initial Public Offer (“IPO”) Committee

The composition of the IPO Committee of Baazar Style Retail Limited comprises of one Managing Director and two Whole Time Directors. The IPO Committee has been constituted to oversee and manage the process of offering the organisations shares to the public for the first time. The IPO Committee functions as per applicable laws and terms of reference.

Presently the Composition of the IPO Committee comprises of the following members: