FAMILIARIZATION PROGRAM FOR THE INDEPENDENT DIRECTORS

In terms of the Clause 49 of the Listing Agreement with the Stock Exchanges every listed Company shall familiarize its Independent Directors with the Company, their roles, rights, responsibilities, nature of the industry in which the Company operates, business model etc., through various programs.

All Independent Directors are aware and further updated about their roles, rights, responsibilities in the Company.

The appointment letter issued to Independent Directors inter alia sets out the expectation of the Board from the appointed director, their fiduciary duties and the accompanying liabilities that come with the appointment as a director of the Company.

They are also provided with necessary documents, reports and internal policies to enable them to familiarize with the Company’s procedures and practices.

Quarterly updates / presentations are made at the Board and its Committee Meetings, on business and performance updates of the Company and its subsidiaries/associates and risks involved. Detailed presentations on the duties and responsibilities of Independent Directors and the Company’s business segments were made at the separate meeting of the Independent Directors held during the year.

Periodic updates on relevant statutory changes / issues with projects under operations and development are regularly provided to the Directors.

Each director of the Company has complete access to any information relating to the Company. Independent Directors have the freedom to interact with the Company’s management. They are given all the documents sought by them for enabling a good understanding of the Company, its various operations and the industry segments of which it belongs.

Further, they meet without the presence of the Company’s Management / Key Managerial Personnel to discuss matters pertaining to the Company’s affairs, performance of the Board, each Director and the Key Managerial Personnel and put forth their combined views to the Chairman and Managing Director of the Company.