Familiarisation Program

SUNIL AGRO FOODS LIMITED

FAMILIARISATION PROGRAM FOR THE DIRECTORS ON THE BOARD

BRIEF INFORMATION ABOUT SUNIL AGRO FOODS LIMTED (SAFL)

 

  1. About the Company: SAFL is primarily in to milling, machining, processing of wheat and allied products and caters to the needs of large manufacturers of various food products who use its products.

 

  1. Legal status: SAFL is a Public Limited Company incorporated under the Companies Act, 1956; initially as a Private Limited Company on 20th January, 1998 and was later converted in to Public Limited Company.

 

  1. SAFL has valid Factory license, license from the Pollution Control Board, license from FSSAI.
  2. Registered Office: Sunil Agro Foods Ltd, No 39/A2, Hoskote Industrail Area, Chokkahalli, Hoskote 562 214, Bangalore Dist.

 

  1. Facilities: SAFL has its own space of about 72600 sqft with built in 36669.sq ftAll the requisite plant and machinery were sourced from reliable sources in India and outside of India and are being maintained in good working conditions.

The Unit 1,Chakki unit & Multigrain Atta plant - situated at Plot No, 39-A2, and Plot No. 4-C, Hosakote Industrial Area, Chokkahalli, Hosakote – 562 114, Bangalore, Karnataka, India. The Industrial area has proximity for Rail and Road transport. The unit has transport vehicles for transportation of Wheat and Wheat products to nearby customers. The unit has 530 KVA of power supply from State Electricity Board. To assist during power shutdown/cut etc. the Company has 380 KVA of Diesel Generator Set. The procurement of Raw materials is from northern parts of our Country as well from nearby Food Corporation of India godowns.

 

  1. Product details:

 

Manufacturers of Wheat products like Maida, Sooji, Atta, Whole wheat atta and Bran related products.

 

  1.  Customers: Esteemed Customers include Nestle India Limited, Mondelez India Foods Limited (Formerly Cadbury India Limited), Innovative Foods, Godrej Tyson,  Maiyaa’s,   Nissin Foods, GSK, General Mills, ITC Limited,  Parsons Private Limited, MTR Foods Limited, TTK Health Care Limited, Good Bread Limited, Many Bakeries, Taj Residency, The Oberoi (Five star Hotels), Heinz Aubon Cafe, Confectioneries and many big, small Whole Sale Customers.

 

  1. Board of Directors of the Company- Brief Profile of each Director of the Company.

Ms Pinky Jain

Particulars                                                        Details

Name                                                                Ms. Pinky Jain

Father’s Name                                               Champalal Jain

Address:                                                        10 Kamal Nivas Srikantaiah Lyt,

                                                                                 Crescent Cross Road GPO,  

                                                                                 Bangalore- 560 001                             

                                                                              

Designation                                                    Director

DIN                                                                 03636974

Date of Birth                                                    12.01.1971

Date of Appointment                                       30.07.2011

Qualifications                                                  Graduate in Arts

Expertise in specific
functional area                                                General Management

Directorships held in other
Public Companies (excluding
foreign companies)                                        Micro Labs Limited

Membership/Chairmanships
of Committees of other public
companies (included only Audit
and Shareholders/ Investors
Grievance Committee)                                    NIL 

 

i. Mr AVS Murthy

Particulars                                                     Details

Name                                                             Mr. AVS Murthy

Father’s Name                                              Alampalli Venkataramana Setty

Address:                                                       No. 105, Shreyas, Bull Temple Road,

                                                                      K  G Naga, Bangalore-560 019

Designation                                                    Director

DIN                                                                 00085805

Date of Birth                                                   23.06.1952

Date of Appointment                                       0.07.2002

Qualifications                                                 BE (Mechanical) Bangalore                      

                                                                       University,

                                                                                     MS (Grain Science & Industry),

                                                                                     Kansas State University, USA,

                                                                                     MIE Institution of Engineers,           

                                                                                 India

          Expertise in specific                                       General Management
          functional area          

         Directorships held in other Companies           1. Krishna Industries Private Limited
        (excluding foreign companies)
                                                                                       2. Mysore Snack Foods Limited

                                                                                3. Mysore Vegetable Oil Products                                                                             

                                                                                    Limited

4. Alampalli Investments Private                              

    Limited

       Membership /                                                      

       Chairmanships of Committees of other           NIL
 public companies (included only Audit
 and Shareholders/ Investors Grievance

      Committee

 

iii.    Mr. Shailesh Dheerajmal Siroya      

 

Particulars                                                      Details

       Name                                                              Mr. Shailesh Dheerajmal Siroya     

       Father’s Name                                                Mr. Dheerajmal Bastimal Siroya

       Address                                                          7/3, Chandavarkar Layout, Palace

                                                                              Cross Road, Bangalore -560 020

 

      Designation                                                      Director

      DIN                                                                   00048109

      Date of Birth                                                      10.08.1966

      Date of Appointment                                       28.07.2003

      Qualifications                                                  MBA (Finance) - The University of Akron,   

                                                                              Ohio, USA,         

     Expertise in specific     

     functional area                                                 General Management, Director                     

     Directorships held in other Companies          1. Sanjay Gems Pvt Ltd

     excluding foreign companies)                         2. Bal Pharma Limited                                                            

                                                                             3. Novosynth Research Labs Private                        

                                                                                 Limited

                                                                             4. Indo-Middleeast Chamber of         

                                                                                 Commerce

                                                                             5. E-Xseed Technologies and Devices  

                                                                                 Private Limited

                                                                             6. Basav Chem Limited

                                                                             7. Siroya Properties & Holdings Private

                                                                                 Limited

                                                                             8. Siroya Builders & Real Estates Private  

                                                                                 Limited                 

                                                                             9. Legend Siroya Infrastructure Private  

                                                                                 Limited    

                                                                             10. Lifezen Healthcare Private Limited

                                                                             11. Bal Research Foundation

                                                                             12. Balance Clinics LLP           

     

      Membership /                                                       

      Chairmanships of Committees of other         NIL
 public companies (included only Audit
 and Shareholders/ Investors Grievance

      Committee

 

iv.    Mr Shantilal Bansilal

 

Particulars                                                    Details

       Name                                                            Mr. Shantilal Bansilal

       Father’s Name                                               Mr. Bansilal Pokharna

Address                                                         No. 10, Kamal Nivas, Srikantaiah

                                                                      Layout, Crescent Cross Road,

                                                                      Bangalore-560 001

Designation                                                   Managing Director

        DIN                                                                00719808

       Date of Birth                                                   9.11.1942

       Date of Appointment                                     20.01.1988

      Qualifications                                                Graduate

      Expertise in specific functional area             General Management

                                                                             Managing Director

     Directorships held in other Companies          1. BRFM India Private Limited
     (excluding foreign companies)                       2. Brindavan Roller Flour Mills Private

                                                                                Limited  

                                                                            3. Puskar Investments Private               

                                                                                Limited

                                                                            4. Roller Flour Millers Federation of

                                                                                India.

                                                                           5. Federation of Karnataka Chambers    of Commerce and Industry

                                                           

      Membership /                                                       

      Chairmanships of Committees of other         NIL
 public companies (included only Audit
 and Shareholders/ Investors Grievance

      Committee

 

v.    Mr Pramod Kumar Shantilal

 

Particulars                                                      Details

       Name                                                              Mr Pramod Kumar Shantilal

        Father’s Name                                                  Mr. Shantilal Bansilal   

       Address                                                          No. 10 Kamal Nivas, Srikantaiah

                                                                              Layout, Crescent Cross Road,

                                                                              Bangalore-560 001

        Designation                                                    Whole-Time Director

       DIN                                                                 00719828

       Date of Birth                                                     15.7.1968

       Date of Appointment                                        20.01.1988

      Qualifications                                                   Graduate

      Expertise in specific functional area                General Management                               

       Directorships held in other Companies           1. Puskar Investments Private

       (excluding foreign companies)                            Limited                                                                                                  
                                                                              2. BRFM India Private Limited

                                                                              3. Brindavan Softland Private Limited

                                                                              4. Roller Flour Millers Federation of

                                                                                  India.

                                                                             5. Kithur Channamma Roller Flour           

                                                                                 Mills Private Limited

                                                                             6. Bal Pharma Limited

                                                                             7. Markasia Foods Private Limited

                                                                       

      Membership /                                                       

      Chairmanships of Committees of other          NIL
 public companies (included only Audit
 and Shareholders/ Investors Grievance

      Committee

 

vi. Ms Gayithri Shankarappa

Particulars                                                       Details

       Name                                                              Ms Gayithri Shankarappa

       Father’s Name                                                Shankarappa M.V

       Address                                                           Sri Venkateshwara Nilaya, Nandhuni

                                                                               Layout

       Designation                                                             CFO

       PAN No.                                                                AYSPG9226G      

      Date of Birth                                                       20.07.1976

      Date of Appointment                                         26.05.2014

      Qualifications                                                    BCom

      Expertise in specific functional area                 Accounts                                                               

       Membership /                                                      

      Chairmanships of Committees of other             NIL
 public companies (included only Audit
 and Shareholders/ Investors Grievance

      Committee

 

  1.    Role of Directors - Duties, Liabilities and expectations.

 

  1.    Duties of Directors as per Section 166 of the Companies Act, 2013.

 

  1. Subject to the provisions of this Act, a director of a company shall act in accordance with the articles of the company.
  2. A director of a company shall act in good faith in order to promote the company for the benefit of its members as a whole, and in the best interests of the company, its employees, the shareholders, the community and for the protection of environment.
  3. A director of a company shall exercise his duties with due and reasonable care, skill and diligence and shall exercise independent judgment.
  4. A director of a company shall not involve in a situation in which he may have a direct or indirect interest that conflicts, or possibly may conflict, with the interest of the company.
  5. A director of a company shall not achieve or attempt to achieve any undue gain or advantage either to himself or to his relatives, partners, or associates and if such director is found guilty of making any undue gain, he shall be liable to pay an amount equal to that gain to the company.
  6. A director of a company shall not assign his office and any assignment so made shall be void.

 

 

  1. Code for Independent Directors as per Schedule IV to the Companies Act, 2013.

 

I. Guidelines of professional conduct:

 

An independent director shall:

 

(1)    uphold ethical standards of integrity and probity;

 

(2)    act objectively and constructively while exercising his duties;

 

(3)    exercise his responsibilities in a bona fide manner in the interest of the company;

 

(4)    devote sufficient time and attention to his professional obligations for informed and balanced decision making;

 

(5)    not allow any extraneous considerations that will vitiate his exercise of objective independent judgment in the paramount interest of the company as a whole, while concurring in or dissenting from the collective judgment of the Board in its decision making;

 

(6)    not abuse his position to the detriment of the company or its shareholders or for the purpose of gaining direct or indirect personal advantage or advantage for any associated person;

 

(7)    refrain from any action that would lead to loss of his independence;

 

(8)    where circumstances arise which make an independent director lose his independence, the independent director must immediately inform the Board accordingly;

 

(9)    assist the company in implementing the best corporate governance practices.

 

II. Role and functions:

 

The independent directors shall:

 

(1)    help in bringing an independent judgment to bear on the Board’s deliberations especially on issues of strategy, performance, risk management, resources, key appointments and standards of conduct;

 

(2)    bring an objective view in the evaluation of the performance of board and management;

 

(3)   scrutinise the performance of management in meeting agreed goals and objectives and monitor the reporting of performance;

 

(4)    satisfy themselves on the integrity of financial information and that financial controls and the systems of risk management are robust and defensible;

 

(5)    safeguard the interests of all stakeholders, particularly the minority shareholders;

 

(6)    balance the conflicting  interest of the stakeholders;

 

(7)    determine appropriate levels of remuneration of executive directors, key managerial personnel and senior management and have a prime role in appointing and where necessary recommend removal of executive directors, key managerial personnel and senior management;

 

(8)    moderate and arbitrate in the interest of the company as a whole, in situations of conflict between management and shareholder’s interest.

 

III. Duties:

 

The independent directors shall—

 

(1)    undertake appropriate induction and regularly update and refresh their skills, knowledge and familiarity with the company;

 

(2)    seek appropriate clarification or amplification of information and, where necessary, take and follow appropriate professional advice and opinion of outside experts at the expense of the company;

 

(3)    strive to attend all meetings of the Board of Directors and of the Board committees of which he is a member;

 

(4)    participate constructively and actively in the committees of the Board in which they are chairpersons or members;

 

(5)    strive to attend the general meetings of the company;

 

(6)    where they have concerns about the running of the company or a proposed action, ensure that these are addressed by the Board and, to the extent that they are not resolved, insist that their concerns are recorded in the minutes of the Board meeting;

 

(7)    keep themselves well informed about the company and the external environment in which it operates;

 

(8)    not to unfairly obstruct the functioning of an otherwise proper Board or committee of the Board;

 

(9)    pay sufficient attention and ensure that adequate deliberations are held before approving related party transactions and assure themselves that the same are in the interest of the company;

 

(10) ascertain and ensure that the company has an adequate and functional vigil mechanism and to ensure that the interests of a person who uses such mechanism are not prejudicially affected on account of such use;

 

(11) report concerns about unethical behaviour, actual or suspected fraud or violation of the company’s code of conduct or ethics policy;

 

(12) acting within his authority, assist  in protecting the legitimate interests of the company, shareholders and its employees;

 

(13) not disclose confidential information, including commercial secrets, technologies, advertising and sales promotion plans, unpublished price sensitive information, unless such disclosure is expressly approved by the Board or required by law.

 

IV. Manner of appointment:

 

  1. Appointment process of independent directors shall be independent of the company management; while selecting independent directors the Board shall ensure that there is appropriate balance of skills, experience and knowledge in the Board so as to enable the Board to discharge its functions and duties effectively.

 

(2)    The appointment of independent director(s) of the company shall be approved at the meeting of the shareholders.

 

(3)  The explanatory statement attached to the notice of the meeting for approving the appointment of independent director shall include a statement that in the opinion of the Board, the independent director proposed to be appointed fulfils the conditions specified in the Act and the rules made there under and that the proposed director is independent of the management.

(4)  The appointment of independent directors shall be formalised through a letter of appointment, which shall set out:

 

(a)  the term of appointment;

 

(b) the expectation of the Board from the appointed director; the Board-level committee(s) in which the director is expected to serve and its tasks;

 

(c) the fiduciary duties that come with such an appointment along with accompanying liabilities;

 

(d)  provision for Directors and Officers (D and O) insurance, if any;

 

(e) the Code of Business Ethics that the company expects its directors and employees to follow;

 

(f)  the list of actions that a director should not do while functioning as such in the company; and

 

(g) the remuneration, mentioning periodic fees, reimbursement of expenses for participation in the Boards and other meetings and profit related commission, if any.

 

(5)  The terms and conditions of appointment of independent directors shall be open for inspection at the registered office of the company by any member during normal business hours.

 

(6)    The terms and conditions of appointment of independent directors shall also be posted on the company’s website.

 

V. Re-appointment:

 

   The re-appointment of independent director shall be on the basis of report of performance evaluation.

 

VI. Resignation or removal:

 

(1)  The resignation or removal of an independent director shall be in the same manner as is provided in sections 168 and 169 of the Act.

 

(2)  An independent director who resigns or is removed from the Board of the company shall be replaced by a new independent director within a period of not more than one hundred and eighty days from the date of such resignation or removal, as the case may be.

 

(3)  Where the company fulfils the requirement of independent directors in its Board even without filling the vacancy created by such resignation or removal, as the case may be, the requirement of replacement by a new independent director shall not apply.

 

VII. Separate meetings:

 

(1)  The independent directors of the company shall hold at least one meeting in a year, without the attendance of non-independent directors and members of management;

 

(2)  All the independent directors of the company shall strive to be present at such meeting;

 

(3)  The meeting shall:

 

(a)   review the performance of non-independent directors and the Board as a whole;

(b)   review the performance of the Chairperson of the company, taking into account   

       the views of executive directors and non-executive directors;

(c) assess the quality, quantity and timeliness of flow of information between the company management and the Board that is necessary for the Board to effectively and reasonably perform their duties.

 

 

VIII. Evaluation mechanism:

 

(1)  The performance evaluation of independent directors shall be done by the entire Board of Directors, excluding the director being evaluated.

 

  1. On the basis of the report of performance evaluation, it shall be determined whether to extend or continue the term of appointment of the independent director.

 

  1. Clause 49 of the Listing Agreement.

I. The company agrees to comply with the provisions of Clause 49 which shall be implemented in a manner so as to achieve the objectives of the principles as mentioned below. In case of any ambiguity, the said provisions shall be interpreted and applied in alignment with the principles.

 

Various elements (in brief) of clause 49 of the Listing agreement are mentioned below:

 

A. The Rights of Shareholders

 

B. Role of stakeholders in Corporate Governance

 

C. Disclosure and transparency

 

D. Responsibilities of the Board

 

II. Board of Directors

 

A. Composition of Board

 

B. Independent Directors

 

Limit on number of directorships

 

Maximum tenure of Independent Directors

 

Formal letter of appointment to Independent Directors

 

Performance evaluation of Independent Directors

 

Separate meetings of the Independent Directors

 

Training of Independent Directors

 

C. Non-executive Directors’ compensation and disclosures

 

D. Other provisions as to Board and Committees

 

E. Code of Conduct

 

F. Whistle Blower Policy

 

III. Audit Committee

 

A. Qualified and Independent Audit Committee

 

B. Meeting of Audit Committee

 

C. Powers of Audit Committee

 

D. Role of Audit Committee

 

E. Review of information by Audit Committee

 

IV. Nomination and Remuneration Committee

 

V. Subsidiary Companies

 

VI. Risk Management

 

VII. Related Party Transactions

 

VIII. Disclosures

 

A. Related Party Transactions

 

B. Disclosure of Accounting Treatment

 

C. Remuneration of Directors

 

D. Management

 

E. Shareholders

 

F. Disclosure of resignation of directors

 

G. Disclosure of formal letter of appointment

 

H. Disclosures in Annual report

 

I. Proceeds from public issues, rights issue, preferential issues, etc.

 

IX. CEO/CFO certification

 

X. Report on Corporate Governance

 

XI. Compliance

 

Annexure - X to the Listing Agreement

Information to be placed before Board of Directors

 

Annexure - XI to the Listing Agreement

Format of Quarterly Compliance Report on Corporate Governance

 

Annexure - XII to the Listing Agreement

Suggested List of Items to Be Included In the Report on Corporate Governance in the Annual Report of Companies

 

Annexure - XIII to the Listing Agreement

Non-Mandatory Requirements:

1. The Board

2. Shareholder Rights

3. Audit qualifications

4. Separate posts of Chairman and CEO

5. Reporting of Internal Auditor

 

 

  1. Code of Conduct for Directors and Senior Management:

 

The Company has Code of Conduct compliance in place.

 

Note: The Directors will be updated on any changes and modifications on the business model of the Company from time to time through Meetings of the Board of Directors and of its various Committees. 

 

"The Company is an profit making Company in the manufacture"

~ Manoj Sunil Agro

“ Quisque condimentum nec mauris rutrum consectetur. ”

~ Arun Sunil Agro