Pursuant to Regulation 25 (7) of SEBI (LODR) Regulation, 2015 the Company to familiarize the Independent Directors with the Company, their roles, responsibilities in the Company, nature of the industry in which the Company operates, business model of the Company, etc. through various programmes.
Objective
The programme aims to provide insight into the Company to enable the Independent Directors to understand its business and operations in depth and contribute significantly to the growth of the Company.
Applicability
The above programmes will be conducted for new and continuing Independent Directors of the Company.
Familiarization Process
The Company shall through its Managing Director/Whole time Director/Senior Managerial Personnel conduct programmes/presentations periodically to familiarize the Independent Directors with the strategy, business and operations of the Company.
Such programmes / presentation will provide an opportunity to the Independent Directors to interact with the senior leadership team of the Company and help them to understand the Company’s strategy, business model, operations, services and product offerings, organization structure, finance, sales and marketing, human resources, technology, quality of products, facilities and risk management and such other areas as may arise from time to time.
The above programme will also include the familiarization on statutory compliances as a Board member including their roles, rights and responsibilities.
The Company may also circulate news and articles related to the industry from time to time and may provide specific regulatory updates.
Programme and Disclosure
Familiarization Programme will be conducted on “need-basis” during the year.
The Programme shall be uploaded on the Company’s website for public information and a web link for the same shall also be provided in the Annual Report of the Company as required under the Listing Agreement.
Review / Amendment of the Programme
The Board of Directors will review / amend this programme and make changes as and when it deems necessary.
Familiarisation Programme for Independent Directors during the Year
The purpose for Familiarisation Programme for Independent Director is to make them aware of the business of the Company and to provide a platform to interact with Business & Functional Heads of the Company.
Chairman & Managing Director/ Senior Managerial Personnel through presentations at the Board Meetings familiarise the Independent Directors with the strategy, operations and functions of the Company. Such presentations by Senior Management help the Independent Directors to understand the Company’s strategy, business model, operations, services and product offerings, market, competition, organization structure, risk analysis and such other areas as may be necessary and it also helps them in taking informed decision and contribute significantly to the growth of the Company.
The Independent Directors are made aware of their roles, rights and responsibilities at the time of their appointment/ re-appointment through a formal letter of appointment which stipulates the various terms and conditions of their engagement.
During the year, the business heads from all the departments of the Company have made detailed presentation on the performance of their operational area and steps taken to grow their business unit.
The Independent Directors have attended in total 5 hours at the familiarisation programmes organised for them.
Ongoing familiarisation
All efforts are made to provide insights into the Company and the business environment to enable Directors to be updated on new challenges, risks and opportunities relevant to the Company and to lend perspective to the strategic direction of the Company. This includes periodic interactive ses-sions organized by the Company for Board members with external domain experts.
At various Board meetings during the year, presentations are made to the Directors on environ-ment issues, CSR and sustainability related matters, accounting policies and changes therein, changes in the regulatory scenario and global trends, Internal Audit, Risk related and investor relat-ed issues and outcome.
Quarterly presentations are made to the Board providing business and performance
Summary of Familiarisation programme of Directors
Total number of hours spent on famliarisation in FY22 – Approx. 5 hours (including specific items at Board meetings)
Cumulative hours spent on familiarisation till date (from 1st October, 2020) – Approx. 15 hours
