Details Of The Familiarization Programmes Imparted To Independent Directors

For The Financial Year 2022-2023

The Companies Act, 2013, read with Regulation 25(7) of the SEBI Listing Regulations places increased responsibilities on Independent Directors (IDs) of the Company. To enable the Independent Directors to fulfil their responsibilities efficiently and effectively, a company is mandatorily required to form a familiarisation program to assist the directors understand details about the Company, their roles, rights, responsibilities in the Company, nature of the industry in which the Company operates, business model of the Company etc.

The Company has conducted the Familiarization Programme where the Independent Directors met with the functional heads of the units, heads of the HR department, IT department to help them understand the services and production process, operations & products of the company, markets, finance, human resources, technology, quality, facilities, budget & control process, risk management and other relevant areas related to the Company. Independent Directors are provided with necessary documents/brochures, reports and internal policies to enable them to familiarize with the Company’s procedures and practices. Periodic presentations are made at the Board and Board Committee Meetings, on business and performance updates of the Company, global business environment, business strategy and risks involved. Detailed presentations on the duties and responsibilities of Independent Directors and the Company’s business segments were made at the separate meetings of the Independent Directors held during the year. The Independent Directors were then presented with the various group policies, emerging scenario in the textile sector etc. Thus, all efforts were made to ensure that the Directors get well conversant with the state of the Company’s affairs and the industry, in which it operates.

During the financial year 2022-23, familiarisation programme was conducted for the Independent Directors wherein the plant(s) visit were organized and a presentation was made to familiarise the Independent Directors with the nature of industry in which the company operates and business model of the Company covering the following:

• Background of the Company and its Business

• Way forward

• Regulatory Updates

• Board Governance & Dynamics

• Expansion, Technology, Research & Development