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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