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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:

S.No Date of the Familiarization Programme Duration of the Programme Topic of the Familiarization
Programme
1 November 6, 2014 2.00 Lending Business
2 May 28, 2015 2.00 Health Insurance Business
3 October 29, 2015 2.00 Broking Business
4 May 26, 2016 2.00 Lending Business
5 October 25, 2016 2.00 Health Insurance Business
6 August 10, 2017 1.50 Risk Management Framework
7 February 14, 2018 1.50 Risk Management Framework
8 September 06, 2018 1.00 Applicability / Implementation of IND AS on Religare
9 November 20, 2018 0.45 Health Insurance Business
10 May 23, 2019 1.00 Regulatory Framework for NBFCs/CICs
Cumulative Hours Till Date 15.45


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

    FY2019-20 Cumulative till date FY2019-20 Cumulative till date
1 Mr. Malay Kumar Sinha 3 1 2.45
2 Mr. Sushil Chandra Tripathi 3 1 2.45
3 Ms. Sabina Vaisoha 4 1 3.45
4 Ms. Vijayalakshmi R. Iyer 2 1 2
6 Dr. Rashmi Saluja11 1 1 1
1Appointed as Director w.e.f. December 20, 2018.