This Familiarization Program (“the Program”) for Independent Directors of VSD Confin Limited(“the Company”) has been adopted by the Board of Directors pursuant to Clause 49 of the Listing Agreement.
Purpose and Objective of The Programme
· To provide insights into the Company to enable the Independent Directors to understand the Company’s business in depth that would facilitate their active participation in managing the Company.
· To adopt a structured programme for orientation and training of Independent Directors at the time of their joining so as to enable them to understand the Company – its operations, business, industry and environment in which it functions and the regulatory environment applicable to it.
· To update the Directors on a continuing basis on any significant changes therein so as to be in a position to take well-informed and timely decisions.
Familiarization Process
A. A detailed Appointment Letter incorporating the role, duties and responsibilities, remuneration and performance evaluation process, Code of Conduct and obligations on disclosures, is issued to the Independent Directors at the time of appointment.
B. New Independent Directors are provided with copy of latest Annual Report, the Code of Conduct, Tentative Schedule of upcoming Board and Committee meetings.
C. The Company shall through its Executive Directors / Key Managerial Personnel conduct programs / presentations periodically to familiarize the Independent Directors with the strategy, operations and functions of the Company;
D. Such programs / presentations will provide an opportunity to the Independent Directors to interact with the senior leadership team of the Company and help them to understand the Company’s strategy, business model, operations, service and product offerings, markets, organization structure, finance, human resources, technology, quality, facilities and risk management and such other areas as may arise from time to time;
E. The Company may circulate news and articles related to the industry on a regular basis and may provide specific regulatory updates from time to time; F. The Company may undertake to send the Directors for Conferences/Business Conclaves which relates to the Industry the Company functions under.
Review of The Program
The Board will review this Program and make revisions as may be required.