Regulation 25 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and the Schedule IV of the Companies Act, 2013 provides that the Company shall familiarize the Independent Directors with the Company, their roles, rights, responsibilities in the Company, nature of Industry in which the Company operates, business model of the Company, etc. through various programs. The purpose of the same is to provide insights into the Company so as to enable the Independent Directors to understand the Company’s business in depth which would facilitate their active participation in the affairs of the Company.

At the time of appointing an Independent Director, the Company issues a formal letter of appointment to the Director which, inter alia, explains the terms, roles, duties and responsibilities expected of him/ her as an Independent Director of the Company. They are also advised from time to time of the Compliances required from them under the Companies Act, 2013, SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and other relevant regulations and requisite affirmations are taken with respect to the same.

Presentations are made to all the Directors at Board Meetings detailing inter-alia, the results of operations, business strategies and policies, budgets, working capital management, fund flows, review of internal audit, competitors analysis, safety, health and environment and sustainability issue, risk management, changes in regulatory environment applicable to the Company, etc. The Directors are also encouraged to visit various Company plants.

Independent Directors have the freedom to interact with Company’s management and senior leadership team of the Company. Management mailers are also sent to Directors on all significant sector and Company news and subjects, as they evolve from time to time.