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Familiarisation programme for Independent Directors

Preamble 

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 programmes. 

Purpose 

The Familiarization Programmes are aimed to familiarize the independent directors with the company, their roles responsibilities in the company, nature of industry in which the company operates and business model of the company by imparting suitable training sessions. 

Overview of Familiarization Programmes 

Board of Directors in its meeting held on July 31, 2014 had approved the Independent Director’s Training Policy (“Policy”) according to which: 

    - To facilitate independent directors in the performance of their duties and responsibilities, new directors are provided with a personal orientation by senior leaders and materials regarding the Company’s business and operations, governing documents, information on key personnel, and financial information are made available to them.

     - Independent directors are also taken through detailed business strategy for various businesses during the independent directors meetings which are held at least twice during the financial year. 

     - The Chairman of the Board depending on the business needs may also nominate independent directors for relevant external training programs. 

Apart from Independent Directors, Non-Executive Directors are also eligible to attend the familiarization programmes. 

The Independent Directors are made aware of their role and responsibilities and liabilities at the time of their appointment through a formal letter of appointment, which also stipulates their roles and responsibilities and various terms and conditions of their appointment.  

Regular updates on relevant statutory and regulatory changes are regularly circulated to the Directors. 

Details of Familiarzation sessions held pursuant to the Policy are as follows:

Date of program Area covered
November 6, 2014 Lending Business
May 28, 2015 Health Insurance Business
October 29, 2015 Broking Business
May 27, 2016 Lending Business
October 25, 2016 Health Insurance Business
August 10, 2017 Risk Management Framework
February 14, 2018 Risk Management Framework


Details of attendance of Independent Directors in Familiarization Sessions are as follows:

S.No. Name of Independent Director No. of the Sessions attended No. of hours spent in the Sessions attended
    FY 2017-18 Cumulative till date FY 2017-18 Cumulative till date
1 Mr. A C Mahajan 1 6 1.5 11.5
2 Mr. Deepak Sabnani 1 3 1 5
3 Mr. Padam Bahl 2 7 2.5 12.5
4 Mr. R K Shetty 2 7 2.5 12.5
6 Mr. Rashi Dhir * 1 1 1.5 2.5
7 Mr. Tejpreet S Chopra ** 0 0 0 0
8 Mrs. Sabina Vaisoha**** 1 1 1 1
9 Mr. Ashok Mehta***** 0 0 0 0
* Resigned as Director w.e.f. November 29, 2017
** Resigned as Director w.e.f. November 14, 2017
*** Resigned as Director w.e.f. January 30, 2018
**** Appointed as Director w.e.f. October 04, 2017
***** Appointed as Director w.e.f. January 24, 2018