Atul Ltd 2014-15

Atul Ltd | Annual Report 2014-15 2.6 Appointment | Cessation » Appointed: (1) Mr M M Chitale was appointed as an Independent Director effective October 17, 2014. (2) Mr T R Gopi Kannan was appointed as a Whole-time Director effective October 17, 2014. (3) Ms S A Panse was appointed as an Independent Director effective March 27, 2015. (4) Mr B R Arora was appointed as an Independent Director effective April 01, 2015. » Ceased: Mr S R Nammalvar ceased to be an Alternate Director effective July 22, 2014. » Resigned: Mr G S Patel resigned as an Independent Director effective January 01, 2015. 2.7 Remuneration No. Name Remuneration during the year Sitting fees Salary and perquisites Commission Total ` ` ` ` Chairman and Managing Director 01 S S Lalbhai – 1,77,60,275 3,20,00,000 4,97,60,275 Managing Director 02 S A Lalbhai – 74,70,104 98,97,150 1,73,67,254 Whole-time Directors 03 B N Mohanan – 85,97,386 – 85,97,386 04 S R Nammalvar 1 (Alternate to B N Mohanan) – 47,51,150 – 47,51,150 05 T R Gopi Kannan 2 – 47,24,973 – 47,24,973 Non-executive Directors 3 06 R A Shah 1,60,000 – 6,33,000 7,93,000 07 G S Patel 4 1,10,000 – 7,44,000 8,54,000 08 S S Baijal 3,00,000 – 12,76,000 15,76,000 09 B S Mehta 2,60,000 – 9,03,000 11,63,000 10 H S Shah 1,70,000 – 7,72,000 9,42,000 11 S M Datta 1,00,000 – 7,00,000 8,00,000 12 V S Rangan 2,40,000 – 10,60,000 13,00,000 13 M M Chitale 5 80,000 – 3,20,000 4,00,000 14 S A Panse 6 20,000 – 10,000 30,000 15 B R Arora 7 – – – – 1 Upto July 22, 2014 | 2 Effective October 17, 2014 | 3 Except Mr B S Mehta and Mr R A Shah, all other Non-executive Directors are Independent | 4 Upto December 31, 2014 | 5 Effective October 17, 2014 | 6 Effective March 27, 2015 | 7 Effective April 01, 2015 Sitting fees of up to ` 20,000 per meeting constitute fees paid to the Non-executive Directors for attending the Board and Committee meetings. Commission up to 1% of the net profits of the Company to the Non-executive Directors was approved by the Members of the Company at the AGM held on August 26, 2013 for a period of five years, effective from April 1, 2013. The Board approves, within the aforesaid limit, commission payable to each Non-executive Director. 3. Committees of the Board The Board has constituted the following Committees: » Audit Committee » Nomination and Remuneration Committee » Stakeholders Relationship Committee » Corporate Social Responsibility Committee » Investment Committee