Remuneration Report
Introduction
This Remuneration Report sets out the policies and practices adopted by the Company in respect of members of the Board and provides details of their remuneration and share interests for the year ended 31 March 2008.
The Executive Directors are based in India (with the exception of Mr Anil Agarwal, who is UK-based), along witht he majority of the Group’s professional management. Consequently their remuneration is set by reference to the prevailing rates within that market.
The Remuneration Report has been prepared in accordance with the Directors’ Remuneration Report Regulations 2002 (‘the Regulations’) (Schedule 7A, Companies Act 1985). Part II of the report sets out the information on which the auditors are required to report to the Company’s members.
The report has been approved by the Board and signed on its behalf by the Chairman of the Remuneration Committee. A resolution to approve this report will be proposed at the Company’s Annual General Meeting to be held on 31 July 2008.