Atul Ltd 2016-17

57 2.6 Appointment | Cessation » Appointed: nil » Ceased: nil » Resigned: nil 2.7 Remuneration No. Name Remuneration during the year ( ` ) Sitting fees Salary and perquisites Commission Total Chairman and Managing Director 01. S S Lalbhai – 2,87,44,873 4,19,80,070 7,07,24,943 Managing Director 02. S A Lalbhai – 95,01,088 1,30,64,250 2,25,65,338 Whole-time Directors 03. B N Mohanan – 1,17,79,609 – 1,17,79,609 04. T R Gopi Kannan – 1,46,34,599 – 1,46,34,599 Non-executive Directors 05. R A Shah 1,80,000 – 7,80,000 9,60,000 06. S S Baijal 2,80,000 – 13,60,000 16,40,000 07. B S Mehta 2,40,000 – 9,60,000 12,00,000 08. H S Shah 95,000 – 5,17,000 6,12,000 09. S M Datta 1,40,000 – 7,20,000 8,60,000 10. V S Rangan 2,00,000 – 11,20,000 13,20,000 11. M M Chitale 1,20,000 – 8,00,000 9,20,000 12. S A Panse 1,20,000 – 8,00,000 9,20,000 13. B R Arora 1,20,000 – 8,00,000 9,20,000 Sitting fees of up to ` 20,000 per meeting constitute fees paid to the Non-executive Directors for attending Board, Committee and other meetings. Commission up to 1% of the net profit of the Company to the Non-executive Directors was approved by the Members of the Company at the AGM held on July 26, 2013 for a period of 5 years, effective April 01, 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 3.1 Audit Committee 3.1.1 Role i) Approving » appointment of the Chief Financial Officer » transactions with Related Parties and subsequent modifications thereof