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Corporate Governance





Familiarization Program:

The Independent Directors are provided with the overview of Company operations through the interactions with the senior management and the Executive Directors of the Company. The Directors at the Board meetings and outside are given the understanding on the following areas:

1. Industry and the market trends;
2. Regulatory issues notably on pricing and FDA issues;
3. The Company performance in the light of the Competition; and
4. Strategies of the Company.


FY 2020-21

Details of Familiarization Programmes held during 2020/2021.
The Company has been briefing the independent directors on the issues concerning the industry, to which the Company belongs, developments which takes place and the concerns or threats faced, if any at regular intervals. Not only at the board meetings even outside the board meetings, as required from time to time, the directors are also briefed by the management on the important events involving regulatory issues, plants working, employees development, contribution to the society and impact on the business operations of the Company due to Covid-19 pandemic etc.
Though difficult to attribute the exact number of hours, the following table gives the time spent by the Company on an approximate basis to familiarize the directors with various facets of company’s working and activities.

  Areas Covered Number of Hours  
  Overview of the business operations and strategy planning 3  
  Financial Performance , Budgeting and Planning 4  
  Risk Management 1  
  Interaction with HR for organizational understanding 2  
  Total 10  

FY 2019-20

Details of Familiarization Programmes held during 2019/2020.
The Company has been briefing the independent directors on the issues concerning the industry, to which the Company belongs, developments which take place and the concerns or threats faced, if any at regular intervals. Not only at the board meetings even outside the board meetings on tel conference etc, at regular intervals the directors are also briefed by the management on the important events involving regulatory issues, plants working, employees development, contribution to the society etc. Newly appointed directors are briefed about the company, its activities, plants, operations, products etc.
Though difficult to attribute the exact number of hours, the following table gives the time spent by the Company on an approximate basis to familiarize the directors with various facets of company working and activities

  Areas Covered Number of Hours  
  Overview of the business operations and strategy planning 2  
  Financial Performance , Budgeting and Planning 5  
  Risk Management 1  
  Interaction with HR for organizational understanding 2  
  Total 10  

FY 2018-19

Details of Familiarization Program held on 19th March, 2019 at Baddi
The Company had organised the Directors’ visit to the manufacturing facility of the Company at Baddi. It was attended by the Directors and the senior management of the Company. All the Independent Directors of the Company attended the aforesaid program.
Approximate number of hours spent by the Independent Directors on the above are as follows:

  Areas Covered Number of Hours  
  Overview of the operations, the Quality Control and Quality Assurance Processes at the manufacturing facility at Baddi 1  
  Discussion related to cost reduction on capital and operating expenditures at the manufacturing facilities of the Company 1  
  Plant visit 2.5  
  Quality Control and Quality Assurance Lab visit 1  
  Interaction with HR for organizational understanding 1  
  Total 6.5  

FY 2017-18

Details of Familiarization Program held on 9th March, 2018 and 10th March, 2018 at Daman
The Directors’ visit to the manufacturing facility and warehouse in Daman was organised. It was attended by the Directors and the senior management of the Company. All the Independent Directors of the Company except Dr. Dheeraj Sharma attended the aforesaid program.
Approximate number of hours spent by the Independent Directors on the above are as follows:

  Areas Covered Number of Hours  
  Overview of operations at the manufacturing facility at Daman, the Quality Control and Quality Assurance Processes at the said facility 1  
  Regulatory environment discussion 1  
  Plant visit 3  
  Warehouse visit 1  
  Quality Control and Quality Assurance Lab visit 1  
  Total 7  

FY 2016-17

1. Details of Familiarization Program held from 9th June, 2016 to 11th June, 2016 at Sikkim
The Directors’ visit to the plants in Sikkim and the main warehouse was organized where one and half days’ detailed presentation was made. It was attended by the Directors and the senior management of the Company.
Approximate number of hours spent by each of the Independent Directors on the above are as follows:

  Areas Covered Number of Hours  
  Industry trends 3  
  Regulatory environment 3  
  Strategy 3  
  Business plans 4  
  Factory visits with supply chain management 6  
  Interaction with HR for organizational understanding 1  
  Total 20