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Familiarization Programmers for Independent Directors

FAMILIARISATION PROGRAMMES FOR INDEPENDENT DIRECTORS

The Companies Act, 2013 read with Regulation 25(7) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, places increased responsibilities on Independent Directors of the Company. In order to enable the Independent Directors to fulfil their responsibilities efficiently and effectively, a familiarisation programme (the “Familiarisation Programme”) has been put in place by the Stove Kraft Limited (the “Company”) to assist them 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 Familiarisation Programme

The orientation and training programs held aim to enable the Independent Directors to have insights into the Company so as to understand their roles, rights, responsibilities. Further they are afforded every opportunity to familiarize themselves with the Company, its management and its operations and above all the Industry perspective & issues. They are made to interact with senior management personnel and are given all the documents sought by them for enabling a good understanding of the Company, its various operations and the industry of which it is a part which enable the Directors to contribute significantly to the Company.

 

The Independent Directors have complete access to the information within the Company. The Board Notes circulated to the Independent Directors and the Presentation being made at the Board Meetings / Committee Meetings would enable the Directors to familiarize with the Company’s strategy, business model, operations, products, finance, risk management, human resources and such other areas of the business of the Company.

 

The Company conducts an induction programme when a new Independent Director joins the Board of the Company. The induction programme comprises a detailed overview of the business verticals of the Company and meetings with business heads / senior leadership team, and with the Chairman, at which time; the Independent Director is familiarized with various aspects of the Company’s business verticals including the industries in which such businesses operate.

 

The Familiarization Programme will be reviewed and changes made as and when deemed necessary.