annual-report-FY2020

85 MAHINDRA & MAHINDRA LTD. INTEGRATED ANNUAL REPORT 2019-20 ANNEXURE V DETAILS OF REMUNERATION Details pertaining to remuneration as required under Section 197(12) read with Rule 5(1) of Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 The remuneration of each Director, Chief Financial Officer and Company Secretary, percentage increase in their remuneration during the Financial Year 2019-20 and ratio of the remuneration of each Director to the median remuneration of the employees of the Company for the Financial Year 2019-20 are as under: Sr. No. Name of Director/KMP Designation Remuneration of Director/KMP for the Financial Year 2019-20 (Rs. in crores) (Excluding perquisite value of ESOPs exercised) Remuneration of Director/KMP for the Financial Year 2019-20 (Rs. in crores) (Including perquisite value of ESOPs exercised) % increase in Remuneration in the Financial Year 2019-20 (Excluding perquisite value of ESOPs exercised) % increase in Remuneration in the Financial Year 2019-20 (Including perquisite value of ESOPs exercised) Ratio of Remuneration of each Director to median remuneration (Including perquisite value of ESOPs exercised) of employees for the Financial Year 2019-20 1. Mr. Anand G. Mahindra Executive Chairman 8.72 8.72 0.58% 0.58% 96.89 2. Dr. Pawan Goenka Managing Director 10.03 10.03 3.62% -17.72% 111.44 3. Mr. Nadir B. Godrej# Independent Director 0.45 0.45 2.27% 2.27% 5.00 4. Mr. M. M. Murugappan# Independent Director 0.50 0.50 6.38% 6.38% 5.56 5. Mr. R. K. Kulkarni#^ Independent Director 0.19* 0.19* -62.75% -62.75% 2.11 6. Mr. Anupam Puri#^ Independent Director 0.14 0.14 -63.16% -63.16% 1.56 7. Dr. Vishakha N. Desai# Independent Director 0.42 0.46 -2.33% -36.99% 5.11 8. Mr. Vikram Singh Mehta# Independent Director 0.45 0.45 2.27% 2.27% 5.00 9. Mr. T. N. Manoharan# Independent Director 0.49 0.49 4.26% 4.26% 5.44 10. Mr. Vijay Kumar Sharma (Nominee of LIC)$ Nominee Director 0.32 0.32 146.15% 146.15% 3.56 11. Mr. Haigreve Khaitan@# Independent Director 0.30* 0.30* — — 3.33 12. Ms. Shikha Sharma@# Independent Director 0.28 0.28 — — 3.11 13. Mr. V S Parthasarathy** Group CFO & Group CIO 5.13 5.13 5.99% -27.13% — 14. Mr. Narayan Shankar Company Secretary 1.51 2.08 5.59% -6.31% — # The remuneration of Independent Directors covers sitting fees and commission. ^ Ceased to be a Director with effect from 8 th August, 2019. @ Appointed Independent Director with effect from 8 th August, 2019. $ Commission is payable to Life Insurance Corporation of India. * The sitting fees and commission was paid/payable to Khaitan & Co., in which Mr. R. K. Kulkarni and Mr. Haigreve Khaitan are partners. ** Ceased to be Group CFO & Group CIO with effect from 1 st April, 2020. Note: All amounts are rounded off.