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Details of Familiarisation Programme for Financial Year 2017-18. 
   1. Objective :
 
      Pursuant to Regulation 25 and 46 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with schedule IV of the Companies Act, 2013, the Company is required to 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.
 
   2. Familiarisation programme Process :
  • All the independent directors of the Company are made aware of their role, responsibilities & duties at the time of their appointment through a formal letter of appointment, which also stipulates various terms and conditions of their engagement with the Company.
  • Presentations are regularly made to the Board of Directors and members of the Committee of Directors (including independent directors and other Non-Executive Directors therein) on various matters, where Directors interact with Managing Committee members of the Company.
  • These Presentations inter-alia, cover the Company’s strategy, business model, analytics & loyalty, operations, OmniChannel, risk management framework, financial performance, budget & control process and such other area as may arise from time to time. The Board members are also updated on various regulatory from time to time.
  • The familiarization programmes will enable Independent Directors not only to have greater insight into Company’s business and operations but also contribute effectively in decision making at Board & Committee meetings.
 
  3. Disclosure of Familiarisation programme :
      During the financial year 2017-18, 7 familiarisation sessions involving appx. 22 hours in aggregate, were conducted. The Independent Directors and the Board of Directors cumulatively spend considerable time in activities relating to familiarisation, which is summarized as under.
  • Various presentation made at the Board & Committee meetings on the Business Performance, Strategy, Merchandise, OmniChannel, Private Brands, Customer Entry, Mission 2020, Beauty Brands. etc.,
  • Presentation on Budget for the financial year 2018-19 and
  • Changes in regulatory framework.
      The cumulative hours spent by them as on March 31, 2018 is 50 hours consisting of 15 familiarisation sessions.
      Familiarisation programme of the Company shall be disclosed on the Company’s website and web link for the same shall be given in the Annual Report of the Company.
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