annual-report-FY2021

71 MAHINDRA & MAHINDRA LTD. INTEGRATED ANNUAL REPORT 2020-21 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. Anish Shah – Managing Director and CEO (with effect from 2 nd April, 2021) (c) Mr. Rajesh Jejurikar – Executive Director (Automotive and Farm Sectors) (d) Mr. Manoj Bhat – Group Chief Financial Officer (appointed with effect from 2 nd April, 2021) (e) Mr. Narayan Shankar – Company Secretary Dr. Pawan Goenka ceased to be the Managing Director and CEO of the Company with effect from 2 nd April, 2021. Dr. Anish Shah was re-designated as Managing Director and CEO of the Company and ceased to be the Group Chief Financial Officer of the Company, with effect from 2 nd April, 2021. 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 granted Stock Options to employees under the Mahindra & 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 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/FY21/AnnualReport.zip. Particulars of Employees and related disclosures The Company had 273 employees who were in receipt of remuneration of not less than Rs. 1,02,00,000 during the year ended 31 st March, 2021 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/FY21/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 inAnnexure VI 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 even during the toughest time of Pandemic. Your Company’s focus continues towards propagating proactive and employee centric practices. The transformational work culture initiative that aims to create an engaged workforce with an innovative, productive and a competitive shop-floor ecosystem continues to grow in strength. Some examples of the programs put in place include ‘Rise for Associates’, industrial relations skills for frontline officers,