annual-report-FY2020

68 COMPANY OVERVIEW BOARD’S REPORT MANAGEMENT DISCUSSION AND ANALYSIS CORPORATE GOVERNANCE BUSINESS RESPONSIBILITY REPORT STANDALONE ACCOUNTS CONSOLIDATED ACCOUNTS J. EMPLOYEES Key Managerial Personnel (KMP) The following have been designated as the Key Managerial Personnel of the Company pursuant to Sections 2(51) and 203 of the Companies Act, 2013 read with the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014: (a) Mr. Anand G. Mahindra – Executive Chairman (b) Dr. Pawan Goenka – Managing Director and Chief Executive Officer. Dr. Pawan Goenka was appointed as the Chief Executive Officer with effect from 1 st  April, 2020. (c) Dr. Anish Shah – Deputy Managing Director and Group Chief Financial Officer (appointed with effect from 1 st April, 2020). (d) Mr. Rajesh Jejurikar, Executive Director (Auto and Farm Sectors) (appointed with effect from 1 st April, 2020). (e) Mr. Narayan Shankar – Company Secretary. Mr. V S Parthasarathy ceased to be the Chief Financial Officer of the Company with effect from 1 st April, 2020. Employees’ Stock Option Scheme During the year under review, on the recommendation of the Governance, Nomination and Remuneration Committee (“GNRC”) of your Company, the Trustees of Mahindra &Mahindra Employees’ Stock Option Trust have grantedStockOptions toemployees under theMahindra& Mahindra Limited Employees Stock Option Scheme 2010. No Stock Options have been granted to employees under the Mahindra & Mahindra Limited Employees Stock Option Scheme 2000. The Company has in force the following Schemes which get covered under the provisions of SEBI (Share Based Employee Bene ts) Regulations, 2014 (SBEB Regulations): 1. Mahindra & Mahindra Limited Employees Stock Option Scheme – 2000 (2000 Scheme) 2. Mahindra & Mahindra Limited Employees Stock Option Scheme – 2010 (2010 Scheme) 3. M&M Employees Welfare Fund No. 1 4. M&M Employees Welfare Fund No. 2 5. M&M Employees Welfare Fund No. 3 During the year, M&M Employees Welfare Fund No. 1 sold 18,32,000 equity shares of Rs. 5 each and M&M Employees Welfare Fund No. 2 sold 9,52,000 equity shares of Rs. 5 each of the Company in compliance of Regulation 26(2) read with Regulation 31(2)(b)(ii) of SEBI (Share Based Employee Benefits) Regulations, 2014. There are no material changes made to the above Schemes and these Schemes are in compliance with the SBEB Regulations. Your Company’s Auditors, Messrs B S R & Co. LLP, have certi ed that the Company’s above-mentioned Schemes have been implemented in accordance with the SBEB Regulations, and the Resolutions passed by the Members for the 2000 Scheme and the 2010 Scheme. Information as required under the SBEB Regulations read with SEBI Circular CIR/CFD/POLICYCELL/2/2015 dated 16 th June, 2015 have been uploaded on the Company’s website and can be accessed at the Web-link: https://www.mahindra.com/resources/FY20/AnnualReport.zip Particulars of Employees and related disclosures The Company had 372 employees who were in receipt of remuneration of not less than Rs. 1,02,00,000 during the year ended 31 st March, 2020 or not less than Rs. 8,50,000 per month during any part of the year. Details of employee remuneration as required under provisions of Section 197(12) of the Companies Act, 2013 read with Rule 5(2) & 5(3) of Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 will be made available during 21 days before the Annual General Meeting in electronic mode to any Shareholder upon request sent at [email protected]. Such details are also available on your Company’s website and can be accessed at the Web-link: https://www.mahindra.com/ resources/FY20/AnnualReport.zip Disclosures with respect to the remuneration of Directors, KMPs and employees as required under Section 197(12) of the Companies Act, 2013 read with Rule 5(1) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 are given in Annexure V to this Report. Industrial Relations The year under review witnessed a very positive Industrial Relations Scenario across all manufacturing locations for the Automotive and Farm Equipment Sectors. Your Company’s focus continues towards propagating proactive and employee centric practices. The