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Familiarization Program for Independent Directors

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FAMILIARIZATION PROGRAM FOR INDEPENDENT DIRECTORS

 Preamble

 In accordance with the requirements of Regulation 25(7) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and Schedule IV of the Companies Act, 2013, 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 program.

Purpose and Objective

The program aims to provide insights into the Company to enable the Independent Directors to understand its business in depth and contribute significantly to the Company.

Overview of the Familiarization Program

The familiarization program for the Independent Directors of the Company is designed to help the Independent Directors to gain a deep understanding of the Company, its stakeholders, senior management/leadership team, operations, policies, industry perspective and issues. Details of various familiarization program for the Independent Directors are highlighted below:

  1. Production Center exposure:

The Company hosts visits of the Independent Directors to its Production Centre to give exposure of delivery capabilities and operations of the Company.

  1. Exposure to R&D / Innovation Labs:

The Independent Directors are briefed regularly on the R&D and Innovation initiatives in the Company. Additionally, visit to Innovation Lab is organized for the Independent Directors.

  1. Ongoing program

The Company, on a regular basis, makes detailed presentations to the entire Board including Independent Directors on the Company’s operations and business plans, the nature of industries in which the Company operates and the model of its respective businesses. Such presentations are made by the senior management/leadership team/function heads so that the Independent Directors can have direct interaction with them.

  1. The Independent Directors of the Company are made aware of their role, responsibilities and liabilities at the time of their appointment/ reappointment through a formal letter of appointment which also stipulates various terms and conditions of their engagement apart from clarifying their roles and

Summary of familiarization programs imparted to Independent Directors

Financial Year

Total number of hours spent by Independent Directors (hours)

2015-16*

6.50

2016-17

11.00

2017-18

15.50

2018-19

16.00

2019-20

13.50

2020-21

15.50

Total

78.00

* With effect from December 1, 2015

Review

The familiarization program for the Independent Directors will be reviewed from time to time and revised as required.

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