KLIP Travels Ltd. (KLIP) is a BSE listed company in the travel industry. Arun Kumar is the Chairperson of KLIP. There has been a major re-shuffle in the composition of the Board of Directors of KLIP with several old dire

CS Professional · Governance, Risk Management, Compliances and Ethics · PYQS · December 2020
KLIP Travels Ltd. (KLIP) is a BSE listed company in the travel industry. Arun Kumar is the Chairperson of KLIP. There has been a major re-shuffle in the composition of the Board of Directors of KLIP with several old directors retiring and many new individuals inducted as directors. The Chairperson of the company, Arun, is keen to give an Induction kit to the newly inducted members on the Board but is unsure of its contents. As the Company Secretary of KLIP, prepare the induction kit.

Answer & Explanation:

An induction kit is generally given to the newly inducted directors and it may contain the following information about the company to enable the newly inducted director to familiarise himself about the company and the environment in which it operated: Memorandum and Articles of Association with a summary of most important provisions. Brief history of the company. Current business plan, market analysis and budgets. All relevant policies and procedures, such as a policy for obtaining independent professional advice for directors. Protocol, procedures and dress code for Board meetings, general meetings, staff social events, site visits etc including the involvement of partners. Press releases in the last one year. Copies of recent press cuttings and articles concerning the company. Annual report for last three years. Notes on agenda and Minutes of last six Board meetings. Board's meeting schedule and Board committee meeting schedule. Description of Board procedures. Organization Chart.

Topics: Corporate Governance

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