- The Company shall periodically organise familiarisation programme for the
Independent Directors to appraise them with the business operations of the
Company as also to know their roles, rights and responsibilities in the Company to
enable them to make effective contribution and discharge their functions as a Board
- Familiarisation Program for Independent Directors shall include:
i. Industry overview and business structure of the Company;
ii. Operation overview and product knowledge;
iii. Overview of Sales & Marketing strategies;
iv. Financial Statements, Financial Ratios and other performance parameters
used for control process;
v. Statutory compliances required to be fulfilled by the Company.
- The policy shall be disclosed on the company’s website and a web link thereto shall be provided in the Annual Report.
Evaluation/ Assessment of Directors of the Company
The evaluation/assessment of the Directors of the Company is to be conducted on an annual basis as a measure of Corporate Governance. The following criteria may assist in determining how effective the performances of the Directors :
- Leadership & stewardship abilities
- Contributing to clearly define corporate objectives & plans
- Communication of expectations & concerns clearly with subordinates
- obtain adequate, relevant & timely information from external sources.
- review & approval achievement of strategic and operational plans, objectives, budgets
- regular monitoring of corporate results against projections
- identify, monitor & mitigate significant corporate risks
- assess policies, structures & procedures
- Direct, monitor & evaluate KMPs, senior officials
- review management’s succession plan
- effective meetings
- assuring appropriate board size, composition, independence, structure
- clearly defining roles & monitoring activities of committees
- review of corporation’s ethical conduct
Evaluation on the aforesaid parameters will be conducted by the entire Board excluding the Director being evaluated.