Independent Directors and Non-Independent Non-Executive Directors
The Independent Directors and Non-Independent Non-Executive Directors of the Company are paid Sitting Fees for attending meetings of the Board and Committees thereof in which they are members. Apart from the Sitting Fees, the Independent Directors and Non-Independent and Non Executive Directors are also paid commission not exceeding 1% of the Net Profits of the Company for a particular financial year, computed in accordance with the provisions of Act.
The amount of Commission to Independent Directors is determined on the basis of the attendance of respective Director at the Board, Committee and General Meeting(s) of the Company during the particular year, the number of memberships/chairmanships held of Committees of the Board, the time devoted and their contribution on various matters of the Company.
The details of remuneration paid / payable to Independent Directors and Non-Independent Non-Executive Director for the Financial Year 2019-20 are as under:
|
Amount in ₹ |
||
|---|---|---|---|
Name |
Sitting Fees |
Commission |
Total |
Shri Nimesh Kampani |
60,000 |
5,00,000 |
5,60,000 |
Shri Sudhin Choksey |
1,35,000 |
10,00,000 |
11,35,000 |
Shri Sudhir Mankad |
3,90,000 |
15,00,000 |
18,90,000 |
Dr. Richard H. Rupp |
2,40,000 |
30,00,000 |
32,40,000 |
Shri Sandesh Kumar Anand |
4,80,000 |
60,00,000 |
64,80,000 |
Dr. Swaminathan Sivaram |
2,70,000 |
12,00,000 |
14,70,000 |
Prof. Indira Parikh |
75,000 |
3,00,000 |
3,75,000 |
Shri Ajay C. Mehta |
1,50,000 |
- |
1,50,000 |
Shri Sanjay Asher |
3,00,000 |
15,00,000 |
18,00,000 |
Smt. Purvi Sheth |
1,65,000 |
7,00,000 |
8,60,000 |
Shri Dileep Choksi |
30,000 |
- |
30,000 |
The details of Equity Shares of the Company held by Non-Executive Directors as on March 31, 2020 are as under:
S.no |
Name of Non-Executive Director |
No. of shares held |
|---|---|---|
1 |
Shri Ajay C. Mehta |
Nil |
2 |
Dr. Richard H. Rupp |
Nil |
3 |
Shri Sudhir Mankad |
Nil |
4 |
Shri Sandesh Kumar Anand |
Nil |
5 |
Dr. Swaminathan Sivaram |
Nil |
6 |
Shri Sanjay Asher |
Nil |
7 |
Smt. Purvi Sheth |
Nil |
8 |
Shri Dileep Choksi |
Nil |
The Company has no pecuniary relationship or transactions with its Non-Executive and Independent Directors other than payment of Sitting Fees to them for attending Board and Committee meetings and commission as approved by the Members for their invaluable services to the Company.