Regulation 25 (7) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 requires that the Independent Directors should, inter alia, be familiarised with the nature of the industry in which the company operates, business model of the company and their roles, rights and responsibilities.

Induction Programme

At the time of induction, the Director is briefed on the overview of the Company, its vision and mission, the industry in which it operates, its business, strategies, risk management, organisation structure and other areas of relevance which the Director is required to be aware of. Various declarations and submissions are obtained from the Director for disclosure to the Board. A detailed letter informing the terms and conditions of appointment, stating the roles, rights and responsibility in line with the requirements of Companies Act, 2013, is also provided to the Independent Directors.

Familiarisation programmes during FY2022

During FY2022, various presentations were made at the Board and its Committee meetings. Independent Directors in their capacity as members of various Committees of the Board are taken through presentations on economic outlook, new business initiatives, updates on information technology and various risk indicators.

At the strategic Board meeting, the Independent Directors were apprised about industry and overview, historical performance, key focus areas, compliance & risk framework, trading strategy, emerging opportunities etc.