FAMILIARIZATION PROGRAMME FOR INDEPENDENT DIRECTORS PURPOSE AND OBJECTIVE OF THE PROGRAMME:
To provide insights into the Company both during joining and on a continual basis to the Independent Directors to enable them to understand the Company’s business in depth, as per SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
FAMILIARIZATION AND CONTINUING EDUCATION PROCESS :
- The Company through its Managing Director/Key Managerial Personnel conducts programmes/presentations to familiarize the Independent Directors when he joins the company covering the strategy, operations and functions of the Company.
- Such programs/presentations provide an opportunity to the Independent Directors to Interact with the Senior Management of the Company and help them to understand the Company’s strategy, business model, operations, service and product offerings, markets, organization structure, finance, human resources, technology, quality, facilities and risk management and such other areas as may arise from time to time.
- The programs /presentations also familiarizes the Independent Directors with their roles, rights and responsibilities.
- When a new Independent Director comes on the Board of the Company, a meeting is arranged with the Chairman, Managing Director, Chief Financial Officer to discuss the functioning of the Board and the nature of the operation of the Company’s business activities.
- New Independent Directors are provided with necessary documents/brochures, reports and internal policies to enable them to familiarize with the Company’s procedures and practices.
- A detailed Appointment Letter incorporating the role, duties and responsibilities, remuneration and performance evaluation process, insurance cover, is issued for the acceptance of the Independent Directors.
OTHER INITIATIVES TO UPDATE THE DIRECTORS ON A CONTINUING BASIS :
- The Directors get an opportunity to visit Company’s offices, where they are appraised of the operational and sustainability aspects to enable them to have full understanding on the activities of the Company.
- At various Board meetings during the year, presentations are made to the Board on business performance, future outlook, financial statements, major litigations, compliance, subsidiary information etc.