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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