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Remuneration
A. Remuneration to Independent Directors
The Independent directors are paid remuneration by way of
sitting fees for each meeting of the Board and Committee of
directors attended by them. The total amount of sitting fees
paid during the financial year 2016-17 was Rs. 15.93 Lakhs. The
Independent Directors do not have any pecuniary relationship or
transactions with the Company. The criteria of making payment
to Non-Executive Directors is disclosed in the Nomination
and Remuneration Policy of the Company which is given as
Annexure- 4 to the Directors Report and is also disclosed on the
website of the Company
https://www.kajariaceramics.com/pdf/nomination_remuneration_policy.pdf
The details of remuneration paid to Independent Directors
during the financial year ended 31st March 2017 is as under:
S.
No.
Name of Non-Executive Director
Sitting Fees
(Rs. in Lakhs)
1 Mr. Raj Kumar Bhargava
3.63
2 Mr. Ram Ratan Bagri
3.63
S.
No.
Name of Non-Executive Director
Sitting Fees
(Rs. in Lakhs)
3 Mr. Debi Prasad Bagchi
3.63
4 Mr. H. Rathnakar Hegde
2.72
5 Mr. Sandeep Singhal*
-
6 Mrs. Sushmita Shekhar
2.32
* Ceased to be Director w.e.f. 7th February, 2017
B. Remuneration to Executive Directors
The appointment and remuneration of executive directors
including Chairman & Managing Director and Whole Time
Directors is governed by the recommendations of the
Nomination and Remuneration Committee, resolutions passed
by the Board of Directors and shareholders of the Company. The
remuneration package and terms and conditions of appointment
of Chairman & Managing Director and Whole Time Directors are
governed by the respective agreements executed between them
and the Company. Their remuneration package comprises of
salary, perquisites and commission, if any, as approved by the
shareholders at the General Meetings.
The details of remuneration paid to Executive Directors during the financial year ended 31st March 2017 is as under:
(Rs. in Lakhs)
S.
No.
Name of Directors
Fixed Component
Performance
Linked Incentive Total
Salary Perquisites & other Benefits
Commission
1. Mr. Ashok Kajaria
210.00
164.50
-
374.50
2. Mr. Chetan Kajaria
180.00
141.00
400.00
721.00
3. Mr. Rishi Kajaria
180.00
141.00
400.00
721.00
4. Mr. Dev Datt Rishi
47.57
37.27
-
84.84
5. Mr. Basant Kumar Sinha
37.68
25.75
-
63.43
Presently, the Company does not have a scheme for grant of
stock options to any director. As per the contract entered into
with the executive directors, there is a notice period of 3 months
and there is no severance fee to be paid to the directors.
Stakeholders Relationship Committee
The Committee is responsible for the satisfactory redressal of
investor’s grievances and recommends measures for overall
improvement in the quality of investor’s services. During the
year 2016-17, the Committee met five (5) times i.e. 27th May
2016, 30th June 2016, 15th September 2016, 31st December
2016, and 31st March 2017. The composition of the Committee
and details of meetings attended by the directors are as follows:
Name of the
Committee
Member
Category
Designation
No. of
Meetings
Attended
Mr. Ram Ratan
Bagri
Independent Chairman
5
Mr. Ashok
Kajaria
Executive
Member
5
Mr. Chetan
Kajaria
Executive
Member
4
Mr. Ram Chandra Rawat, COO (A&T) & Company Secretary, is
the Compliance Officer of the Company.
During the year 2016-17, 44 complaints were received. Out
072