Preamble
Regulation 25 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 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.
Overview of the Familiarisation Process
The appointment letter is issued to the Independent Directors which interlia states the roles, responsibilities and the fiduciary duties and the accompanying liabilities that come with the appointment as a Director of the Company.
- The Company shall through its Executive Directors / Senior Managerial Personnel conduct programs / presentations to familiarize the existing Directors as well as new 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 programs/presentations shall also familiarize the Independent Directors with their roles, rights and responsibilities;
- The Company may conduct an introductory familiarization program / presentation, when a new Independent Director comes on the Board of the Company.
Programme and Disclosure
- Familiarization programme will be conducted "as needed" basis during the year.
- As and when familiarization programme is conducted, the same will be disclosed on the website of the Company and a web link thereto shall also be given in the Annual Report.
Administration
The Familiarization programme for Independent Directors will be administered and monitored by Nomination and Remuneration Committee.
Review of the Program
The Board will review this Program and make revisions as may be required.
Details of Familiarization Programme imparted to Independent Directors
| Sr. No. | Date of the Familiarization Programme | Duration of the Programme (in hours) | Topic of the Familiarization Programme |
|---|
| 1. | 17.01.2018 | 1.5 | - Induction of new Directors and roles, rights and responsibilities of Independent Directors;
- Information of Business Structure
|
| 2. | 30.05.2019 | 1 | Updates on SEBI (Listing Regulations & Disclosure Requirements) Regulations, 2015 |
| Total | 2.5 | |
Details of attendance of Independent Directors in Familiarization Programmes
| Sr. No. | Name of Independent Director | No. of programmes attended | No. of hours spent by independent directors in such programmes |
|---|
| FY 2019-20 | Cumulative till date | FY 2019-20 | Cumulative till date |
|---|
| 1. | Dr. Ganesh P. Raut | 1 | 2 | 1 | 2.5 |
| 2. | Mr. Umakanth Bhyravajoshyulu | 1 | 2 | 1 | 2.5 |
| 3. | Mr. M Soundara Pandian | 1 | 2 | 1 | 2.5 |