Policy for determining Material Subsidiaries

ARIHANT’S SECURITIES LIMITED
FAMILIARISATION PROGRAMME FOR INDEPENDENT DIRECTORS

1.PREAMBLE

In terms of Clause 25(7) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (the “Listing Regulations”), the Company is required to familiarize the Independent Directors with the business and operations of the Company, their roles, rights, responsibilities in the Company, nature of the industry in which the Company operates, business model of the Company and the ongoing events relating to the Company.

This programme aims to provide the Independent Directors insights into the Company to enable them to understand the Company’s business and operations so that they are able to play a meaningful role in the overall governance processes of the Company.

2.FAMILIARISATION PROGRAMME

  •  The Company conducts induction program/presentation when a new Independent Director joins the Board of the Company, on various aspects including overall corporate and business overview, manufacturing and R&D facilities, enterprise risk management processes, investor relations and human resources. The Chairman of the Board depending on the business needs may also nominate Independent Directors for relevant external training programs.
  • The Independent Directors are also made aware of their roles, duties and responsibilities, remuneration and performance evaluation process, etc.
  • The Company shares business presentations periodically at the meetings of the Board of Directors and the Committees to inform the Independent Directors about the strategy, operations and functions of the Company. At various Board meetings, presentations are also made on safety, health and environment, risk management, Company policies and changes in the regulatory environment
  • Quarterly presentations on operations are made to the Board informing about business performance, operations, market share, working capital management, changes in the senior management, major litigation, compliances, subsidiary information, etc.
  • On an annual basis, presentations are made on annual business plans which provide Independent Directors an opportunity to understand the strategic roadmap and also contribute to strategy development with their experience
  • Above presentations help the Independent Directors to understand the Company’s strategy, competitive landscape, business model, operations, product & services offerings, markets, organization structure, finance, human resources, technology, quality, risk management and such other areas as may be relevant from time to time
  • The Company circulates news and articles related to the industry on a regular basis and provides specific regulatory updates from time to time for information of the Independent Directors

3.REVIEW

This Familiarisation Process shall be reviewed and revised by the Board as and when required

4.DISCLOSURE

 Pursuant to Regulation 46(2) of Listing Regulations, the Familiarisation Programme shall be disclosed on the Company’s website and a web link thereto shall be provided in the Annual Report