In terms of Clause 25(7) of the SEBI (Listing
Obligations
and Disclosure Requirements) Regulations, 2015, 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 programs.
All Independent Directors have been briefed
about their
roles, functions and responsibilities in the Company. The
appointment
letter issued to Independent Directors also sets out
detailed terms
of employment including their roles, function,
responsibilities and
their fiduciary duties as a director of the Company.
The Board of Directors has complete access to
the information
within the company. Independent Directors are provided with
necessary
documents, reports and internal policies to enable them to
familiarize
with the Company’s procedures and practices. Further,
presentations
are made at the Board and its Committee Meetings, on various
related
matters where Directors get an opportunity to interact with
the senior
management. The presentations cover the company’s strategy,
business
and performance updates, operations, technology etc. Updates
on changes
in legislation and information relating to the financial
performance
of the Company, budget and control process of the Company
are provided
to the Directors in the Board Meetings.
Further, Independent Directors meet
periodically without
the presence of other Directors to discuss matters
pertaining to
the Company’s affairs and put forth their views to the Board
of Directors
of the Company.