Arohan Financial Services Limited | Annual Report 2022-23

| 98 Annual Report | 2022-2023 9. Meeting of Independent Directors Schedule IV of the Companies Act, 2013 and the Rules thereunder mandate that 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 the Management. At such meetings, the independent directors discuss, among other matters, the performance of the Company and risks faced by it, the flow of information to the Board, competition, strategy, leadership strengths and weaknesses, governance, compliance, Board movements,humanresourcemattersandperformance of the executive members of the Board, including the Chairman. During the year, the independent directors met on May 10, 2022 without the presence of the Management. General Body Meetings Details of location and time, where last three Annual General Meetings held are given below: Financial Year Category Location Date Time 2021-2022 AGM It was held through Video Conferencing (‘VC’)/Other Audio-Visual Means (‘OAVM’), deemed location is Registered Office August 11, 2022 02:00 PM 2020-2021 AGM It was held through Video Conferencing (‘VC’)/Other Audio-Visual Means (‘OAVM’), deemed location is Registered Office August 05, 2021 3:00 PM 2019-2020 AGM It was held through Video Conferencing (‘VC’)/Other Audio-Visual Means (‘OAVM’), deemed location is Registered Office August 03, 2020 11:30 AM Six (6) ExtraOrdinaryGeneralMeetingsof theCompany were held on September 26, 2022, November 18, 2022, November 26, 2022, December 12, 2022, March 15, 2023 and March 29, 2023. The following business items were approved by Special Resolution in the last three AGMs: FY 2019-20: 1. Increase the borrowing power of the Company; 2. Creation of charge and providing security; 3. Issue of Non-Convertible Debentures; 4. Payment of Commission to Directors; 5. Approval of Arohan Employee Stock Option Plan 2018 (Grant 2020). FY 2020-21: 1. Increase the borrowing power of the Company; 2. Creation of charge and providing security; 3. To issue non-convertible debentures; 4. Reappointment of Ms. Matangi Gowrishankar, Independent Director; 5. Reappointment of Mr. Manoj Kumar Nambiar as Managing Director of the Company. FY 2021-22: 1. Increase in borrowing power of the Company; 2. Creation of charge and to provide security; 3. Issue of Non-Convertible Debentures; 4. Payment of commission to the Independent Directors of the Company; 5. Amendment in the ‘AROHAN EMPLOYEE STOCK OPTION PLAN 2010’ (“ESOP 2010”/ “PLAN”); 6. Amendment in the “AROHAN EMPLOYEE STOCK OPTION PLAN 2018’ (“ESOP 2018”/ “PLAN”); 7. Amendment in the “AROHAN EMPLOYEE STOCK OPTION PLAN 2021’ (“ESOP 2021”/ “PLAN”); 8. Issue of shares w.r.t Arohan Employee Stock Option Plan 2021. Disclosures under the Whistle Blower Mechanism of the Company The Company has an established mechanism for Directors, Employees, Clients, partners, investors or Annexures to Director’s Report