annual-report-FY2020

183 MAHINDRA & MAHINDRA LTD. INTEGRATED ANNUAL REPORT 2019-20 The sitting fees paid to Non-Executive Directors and the commission payable to them for the year ended 31 st March, 2020 along with their respective shareholdings in your Company are as under: Directors Sitting Fees paid for the Board and Committee Meetings held during the year ended 31 st March, 2020 (Rs. in Lakhs) Commission for the year ended 31 st March, 2020, provided as payable in the accounts of the Company for the year under review (Rs. in Lakhs) No. of Ordinary (Equity) Shares held as on 31 st March, 2020 Mr. Nadir B. Godrej 14.50 30.00 11,65,707 Mr. M. M. Murugappan 14.00 36.00 2,00,000 Mr. R. K. Kulkarni * 6.20## 12.69## Not Applicable Mr. Anupam Puri * 3.00 10.57 Not Applicable Mr. Vikram Singh Mehta 14.50 30.00 20,000 Dr. Vishakha N. Desai 5.70 36.00 7,500 Mr. T. N. Manoharan 12.50 36.00 Nil Mr. Vijay Kumar Sharma (Nominee of LIC) 4.50 27.43# Nil Mr. Haigreve Khaitan** 6.60## 23.31## Nil Ms. Shikha Sharma** 9.00 19.43 Nil * Ceased to be a Director w.e.f. 8 th August, 2019; ## Sitting fees/Commission were paid/is payable to Khaitan & Co., in which Mr. R. K. Kulkarni and Mr. Haigreve Khaitan are Partners. ** Appointed as a Director w.e.f. 8 th August, 2019 # Commission is payable to LIC. The Non-Executive Directors were not granted stock options during the year under review. C. Remuneration paid/payable to Executive Chairman and Managing Director (Whole-time Directors) for the year ended 31 st March, 2020 Remuneration to the Whole-time Directors is fixed by GNRC which is subsequently approved by the Board of Directors and Shareholders at a General Meeting. Following is the remuneration paid/payable to the Whole-time Directors during the year ended 31 st March, 2020: Directors (Rs. in Lakhs) Contract Period Salary 1 Commission Company’s Contribution to Funds 2 Perquisites and Allowances Total Mr. Anand G. Mahindra (Executive Chairman) 392.62 419.06 56.32 3.56 871.56 12 th November, 2016 to 11 th November, 2021 Dr. Pawan Goenka (Managing Director and Chief Executive Officer) 423.21 471.71 61.98 46.54 1,003.44 12 th November, 2016 to 11 th November, 2020 (Existing) and 12 th November, 2020 to 1 st April, 2021 (New) 1 Includes Privilege Leave Encashment. 2 Aggregate of the Company’s contributions to Superannuation Fund and Provident Fund. Notes: a. Notice period applicable to each of the Whole-time Directors is six months. b. Employee Stock Options and Commission are the only components of remuneration that are performance-linked. All other components are fixed.