annual-report-FY2021

MAHINDRA & MAHINDRA LIMITED 14 Additional Information with respect to Item No. 4 ITEM NO. 4: Proposal: Mr. Vijay Kumar Sharma (DIN: 02449088), the Non-Executive Non-Independent Director of the Company representing Life Insurance Corporation of India is liable to retire by rotation and being eligible, has offered himself for re-appointment. Mr. Vijay Kumar Sharma was first appointed as a Director on the Board of the Company with effect from 14 th November, 2018. Profile: Mr. Vijay Kumar Sharma has completed 62 years of age. Mr. Sharma is a post-graduate (M.Sc.) from Patna University. He joined Life Insurance Corporation of India (“LIC”) as Direct Recruit Officer in 1981 and grew up with the Corporation since then. He held various challenging assignments pan India and in all operational streams including in-charge positions at different levels. Working across length and breadth of the country has added immensely to his experience and honed his understanding of demographics of the country, socio-economic needs of different regions and multi-cultural challenges in implementation of LIC’s objectives. Mr. Sharma superannuated as Chairman of LIC on 31 st December, 2018. Prior to his taking over as Chairman on 16 th December, 2016, he served as Chairman (In charge) from 16 th September, 2016 and Managing Director of LIC from 1 st November, 2013. From December, 2010 to November, 2013, he served as Managing Director & Chief Executive Officer, LIC Housing Finance Limited (LIC HFL), a premiere housing finance company in the country. As MD & CEO of LIC HFL, he stabilized the operations under most challenging circumstances of negative media glare, intense scrutiny by Regulator & others and turned it around to be the best Housing Finance Company in 2011. He has been an inspirational leader who utilizes negotiation skills gained over thirty seven years of extensive experience in insurance and financial sectors and strongly connects to the grass root levels, believes in bottom-up approach and has the ability to see the Big Picture and translate it to reality. He is known as Growth Leader, leading the Organisation to surge ahead and turnaround on its growth path in all the segments of performance. Directorships and Committee positions: Mr. Sharma is Non-Executive Non-Independent Director of Mahindra & Mahindra Limited, Director of Tata Steel Limited and Ambuja Cement Foundation, Independent Director of Reliance Power Limited and NURECA Limited, Additional Independent Director of Vidarbha Industries Power Limited and Chairman of Indian Commodity Exchange Limited. Mr. Vijay Kumar Sharma is a Chairman/Member of the following Board Committees: Sr. No. Name of the Company Name of the Committee Position held 1. Mahindra & Mahindra Limited Strategic Investment Committee Member 2. Tata Steel Limited Stakeholders Relationship Committee Chairman Safety Health and Environment Committee Member 3. Indian Commodity Exchange Limited Advisory Committee Chairman Audit Committee Member Nomination & Remuneration Committee Member Risk Management Committee Member Member and Core Settlement Guarantee Fund Committee Member Standing Committee on Technology Member Regulatory Oversight Committee Member 4. Reliance Power Limited Nomination & Remuneration Committee Chairman Stakeholders Relationship Committee Chairman Audit Committee Member CSR Committee Member Risk Management Committee Member 5. Vidarbha Industries Power Limited Audit Committee Chairman CSR Committee Chairman Nomination & Remuneration Committee Member Attendance at Board Meetings: During the year 1 st April, 2020 to 31 st March, 2021, 7 Board Meetings of the Company were held, and Mr. Vijay Kumar Sharma had attended all Meetings. Remuneration: Mr. Vijay Kumar Sharma is entitled to sitting fees for attending the Meetings of the Board of Directors and Committees thereof. In addition, he would be entitled to commission which is paid to LIC, as determined each year by the Board of Directors within the limits approved by the Members of the Company for the Non-ExecutiveDirectors of the Company. The sitting fees paid to Mr. Vijay Kumar Sharma during the Financial Year 2020- 21 is Rs. 9.50 lakhs. The commission paid to LIC on behalf of Mr. Vijay Kumar Sharma for the Financial Year 2019-20 is Rs. 27.43 lakhs. For Financial Year 2020-21, Commission payable to LIC on behalf of Mr. Vijay Kumar Sharma will be Rs. 30 lakhs. Other Information: Mr. Vijay Kumar Sharma does not hold any Ordinary (Equity) Shares in the Company.