The Clause 49 (II) (B) (7) of the Listing Agreement (effective from October 1, 2014) with the Stock Exchanges stipulates that:
The Company shall familiarize the Independent Directors with the Company, their roles, rights, responsibilities in the Company, nature of the industry in which the Company operates, business model of the Company, etc., through various programmes.
The details of such familiarization programmes shall be disclosed on the Company’s website and a web link thereto shall be given in the Annual Report.
The Familiarization programme for Independent Directors will be administered and monitored by Nomination and Remuneration Committee.
The Company shall through its Executive Directors / Senior Managerial Personnel conduct programs / presentations periodically to familiarize the Independent Directors with the strategy, operations and functions of the Company;
Such programs / presentations 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, 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 programmes/presentations also familiarises the Independent Directors with their roles, rights and responsibilities.
When a new Independent Director comes on Board of the Company, a meeting is arranged with the Chairperson, Managing Director, Chief Financial Officer to discuss the functioning of the Board and the nature of the operation of the Company’s business activities.
The Company may also circulate news and articles related to the industry from time to time and may provide specific regulatory updates.
The above programmes will be conducted for new and continuing Independent Directors of the Company.
This policy shall be uploaded on the website of the Company for public information and a web link thereto shall also be provided in the Annual Report of the Company.
Review of the programme
The Board of Directors will review this Programme and make revisions as may be required from time to time.