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Annual Report 2016-17
Remuneration to the Directors
The Company pays remuneration by way of salary, beneots, perquisites and allowances (o[ed component) and
performance incentives (variable component) to its E[ecutive Directors. Annual increments are decided by the
Compensation and Remuneration Committee of the Board of Directors within the range of the remuneration approved
by the Members.
Table 7 and Table 8 gives details of remuneration paid to E[ecutive and Independent Directors of the Company,
respectively, in the onancial years 2015-16 and 2016-17.
Table 7: Remuneration to Executive Directors
(In
`
Million)
Name of the
Director
Category
Year ended
March 31,
Salary and
allowance
Performance
linked /
Incentive
Commission
Company’s
contribution to
provident and
superannuation fund
Perquisite
and other
payments
Total
Dr. Anand
Deshpande
Chairman and
Managing
Director
2017
8.27
7.47
1.44
0.05 17.23
2016
7.40
4.86
1.29
0.08 13.63
Mr. Mritunjay
Singh*
E[ecutive
Director and
President –
Services
2017
6.17
4.53
0.29
10.38 21.37
2016
5.64
4.14
0.18
15.69 25.65
Total
2017
14.44
12.00
1.73
10.43 38.60
2016
13.04
9.00
1.47
15.77 39.28
*
The value of perquisites for Mr. Mritunjay Singh, E[ecutive Director and President – Services represents the amount of perquisite
towards e[ercise of stock options which does not form part of his CTC (Cost to Company).
Service contracts, notice period, severance fees
During the onancial year 2016-17, the Company did not have any service contracts, notice period and severance fees or
any other payment to the directors.
Section 197 of the Companies Act, 2013 provides that a Director who is not in the whole-time employment of the
Company (i.e. Non - E[ecutive Director) may be paid remuneration by way of commission at a sum not e[ceeding 1% per
annum of net proots.
Table 8: Remuneration to Independent Directors
(In
`
Million)
Name of the Director
Category
Year ended
March 31,
Salary and
Allowance
Commission Sitting fees
Total
Ms. Roshini Bakshi
Independent
Director
2017
N.A.
1.600
0.250
1.850
2016
N.A.
1.500
0.235
1.735
Mr. Pradeep Bhargava
Independent
Director
2017
N.A.
1.600
0.575
2.175
2016
N.A.
1.500
0.530
2.030
Mr. Sanjay Bhattacharyya Independent
Director
2017
N.A.
1.600
0.600
2.200
2016
N.A.
1.500
0.570
2.070
Dr. Anant Jhingran
Independent
Director
2017
N.A.
1.600
0.100
1.700
2016
N.A.
1.500
0.125
1.625
Mr. Thomas Kendra
Independent
Director
#
2017
N.A.
1.600
0.200
1.800
2016
N.A.
0.287
0.040
0.327
Mr. Prakash Telang
Independent
Director
2017
N.A.
1.600
0.400
2.000
2016
N.A.
1.500
0.405
1.905
Mr. Kiran Umrootkar
Independent
Director
2017
N.A.
1.600
0.750
2.350
2016
N.A.
1.500
0.680
2.180
Total
2017
N.A.
11.200
2.875
14.075
2016
N.A.
9.287
2.585
11.872
*
Commission and Sitting fees are e[cluding service ta[.
# Designation of Mr. Kendra changed to Non-E[ecutive Non-Independent Director w.e.f. April 1, 2017.