Atul Ltd 2014-15

41 4.6 Remuneration of the Directors and the Key Managerial Personnel 4.6.1 Remuneration to the Managing Director, the Whole-time Directors and | or the Manager ( ` ) No. Particulars S S Lalbhai S A Lalbhai B N Mohanan S R Nammalvar 1 T R Gopi Kannan 2 Total amount 1 Gross salary Salary as per provisions under Section 17(1) of the Income- tax Act, 1961 1,41,09,724 69,47,475 80,45,752 38,78,224 47,03,193 3,76,84,368 Value of perquisites under Section 17(2) of the Income- tax Act, 1961 36,50,551 5,22,629 5,51,634 8,72,926 21,780 56,19,520 Profits in lieu of salary under Section 17(3) of the Income- tax Act, 1961 – – – – – – 2 Stock option – – – – – – 3 Sweat Equity – – – – – – 4 Commission for 2014-15 3,20,00,000 3 98,97,150 4 – – – 4,18,97,150 5 Others – – – – – – 6 Total A 4,97,60,275 1,73,67,254 85,97,386 47,51,150 47,24,973 8,52,01,038 7 Ceiling as per the Act 32,02,20,900 1 Effective April 01, 2014 to July 22, 2014 | 2 Effective October 17, 2014 to March 31, 2015. He continues to be the CFO | 3 1% of profit ( ` 3,20,00,000/-) or 60 months basic salary ( ` 4,50,00,000/-) whichever is lower | 4 0.50% of profit ( ` 1,60,00,000/-) or 30 months basic salary ( ` 98,97,150/-) whichever is lower. 4.6.2 Remuneration to the other Directors ( ` ) No. Particulars R A Shah G S Patel S S Baijal B S Mehta H S Shah S M Datta V S Rangan M M Chitale S A Panse Total amount 1 Non-executive Independent Directors a) Fee for attending the Board | the Committee meetings – 1,10,000 3,00,000 – 1,70,000 1,00,000 2,40,000 80,000 20,000 10,20,000 b) Commission – 7,44,000 12,76,000 – 7,72,000 7,00,000 10,60,000 3,20,000 10,000 48,82,000 Total 1 – 8,54,000 15,76,000 – 9,42,000 8,00,000 13,00,000 4,00,000 30,000 59,02,000 2 Non-executive Non-independent Directors a) Fee for attending the Board | the Committee meetings 1,60,000 – – 2,60,000 – – – – – 4,20,000 b) Commission 6,33,000 – – 9,03,000 – – – – – 15,36,000 Total 2 7,93,000 – – 11,63,000 – – – – – 19,56,000 Total B = (1+2) 7,93,000 8,54,000 15,76,000 11,63,000 9,42,000 8,00,000 13,00,000 4,00,000 30,000 78,58,000 Total managerial remuneration (A+B) 9,30,59,038 Overall ceiling as per the Act 35,22,42,990