Atul Ltd 2017-18

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 – 2,87,06,933 4,17,10,000 7,04,16,933 Managing Director 02. S A Lalbhai – 95,35,077 1,30,64,250 2,25,99,327 Whole-time Directors 03. B N Mohanan – 1,11,43,925 – 1,11,43,925 04. T R Gopi Kannan – 1,39,06,933 – 1,39,06,933 Non-executive Directors 05. R A Shah 2,80,000 – 7,80,000 10,60,000 06. S S Baijal 4,20,000 – 13,60,000 17,80,000 07. B S Mehta 4,20,000 – 9,60,000 13,80,000 08. H S Shah 1,50,000 – 4,80,000 6,30,000 09. S M Datta 3,15,000 – 9,60,000 12,75,000 10. V S Rangan 2,80,000 – 8,71,000 11,51,000 11. M M Chitale 1,40,000 – 8,00,000 9,40,000 12. S A Panse 2,10,000 – 8,00,000 10,10,000 13. B R Arora 2,10,000 – 8,00,000 10,10,000 Sitting fees of up to ` 35,000 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