Atul Ltd 2015-16

43 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 T R Gopi Kannan Total amount 1 Gross salary Salary as per provisions under Section 17(1) of the Income- tax Act, 1961 2,09,77,256 80,98,634 97,80,656 1,40,99,945 5,29,56,491 Value of perquisites under Section 17(2) of the Income- tax Act, 1961 33,61,744 6,05,361 6,91,451 39,600 46,98,156 Profits in lieu of salary under Section 17(3) of the Income- tax Act, 1961 – – – – – 2 Stock option – – – – – 3 Sweat Equity – – – – – 4 Commission for 2015-16 4,12,50,000 1 1,18,76,580 2 – – 5,31,26,580 5 Others – – – – – 6 Total A 6,55,89,000 2,05,80,575 1,04,72,107 1,41,39,545 11,07,81,227 7 Overall ceiling as per the Act 41,25,00,000 1 1% of profit ( ` 4,12,50,000/-) or 60 months basic salary ( ` 6,07,50,000/-) whichever is lower | 2 0.50% of profit ( ` 2,06,25,000/-) or 30 months basic salary ( ` 1,18,76,580/-) whichever is lower. 4.6.2 Remuneration to the other Directors ( ` ) No. Particulars R A Shah S S Baijal B S Mehta H S Shah S M Datta V S Rangan M M Chitale S A Panse B R Arora Total amount 1 Non-executive Independent Directors a) Fee for attending the Board | the Committee meetings – 2,20,000 – 1,65,000 1,40,000 2,00,000 80,000 80,000 1,20,000 10,05,000 b) Commission – 13,60,000 – 10,40,000 9,60,000 11,20,000 4,80,000 8,00,000 8,00,000 65,60,000 Total 1 – 15,80,000 – 12,05,000 11,00,000 13,20,000 5,60,000 8,80,000 9,20,000 75,65,000 2 Non-executive Non-independent Directors a) Fee for attending the Board, Committee and other meetings 1,20,000 – 2,00,000 – – – – – – 3,20,000 b) Commission 7,80,000 – 9,60,000 – – – – – – 17,40,000 Total 2 9,00,000 – 11,60,000 – – – – – – 20,60,000 Total B = (1+2) 9,00,000 15,80,000 11,60,000 12,05,000 11,00,000 13,20,000 5,60,000 8,80,000 9,20,000 96,25,000 Total managerial remuneration (A+B) 12,04,06,227 Overall ceiling as per the Act 45,37,50,000