Regulation 25(7) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 stipulates that the company shall familiarise the Independent Directors through various programs about their roles, rights and responsibilities in the company, nature of the industry in which the company operates, business model of the company, etc.
The Board including all Independent Directors have been explained about the nature of Industry, their roles, rights, responsibilities in the Company through detailed presentations on the changes in backdrop of Companies Act 2013, SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and Secretarial Standards and the Applicable RBI Guidelines/Circulars/ Regulations. The Company has arranged such presentations through internal resources.
The Board including all Independent Directors are being provided with relevant documents, reports and internal policies to enable them to familiarise with the Company’s procedures and practices from time to time.
Periodic presentations are made at the Board and Board Committee Meetings, inter alia, on business and performance updates of the Company, business strategy, risks involved and the Projected Future Cash flows.
Independent Directors are facilitated to meet without the presence of the Company’s management to discuss matters pertaining to the Company’s affairs.
The details of familiarisation programs imparted to independent directors are as under:
| Name of Director | Financial Year 2023-24 | Cumulative Till date | ||
|---|---|---|---|---|
| No. of Programmes | No. of Hours | No. of Programmes | No. of Hours | |
| Mr. Suresh Shetty | 4 | 2 | 7 | 3.5 |
| Mr. Navin Raheja | 5 | 2.5 | 5 | 2.5 |