MAHINDRA & MAHINDRA LTD. | Integrated Annual Report 2021-22

156 COMPANY OVERVIEW BOARD’S REPORT MANAGEMENT DISCUSSION AND ANALYSIS CORPORATE GOVERNANCE BUSINESS RESPONSIBILITY REPORT STANDALONE ACCOUNTS CONSOLIDATED ACCOUNTS The sitting fees paid to Non-Executive Directors and the commission payable to them for the year ended 31 st March, 2022 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, 2022 (Rs. in Lakhs) Commission for the year ended 31 st March, 2022, 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, 2022 Mr. Anand G. Mahindra* 5.10 95.89 14,30,008 Mr. Vikram Singh Mehta 21.00 36.00 20,000 Dr. Vishakha N. Desai 9.70 36.00 12,500 Mr. T. N. Manoharan 13.50 36.00 Nil Mr. Vijay Kumar Sharma (Nominee of LIC) 8.50 30.00 # Nil Mr. Haigreve Khaitan 17.20 ## 36.00 ## Nil Ms. Shikha Sharma 18.50 30.00 Nil Mr. CP Gurnani^ Nil Nil 2,290 Ms. Nisaba Godrej 8.00 30.00 Nil Mr. Muthiah Murugappan 8.00 29.53 Nil * Non-Executive Director with effect from 12 th November, 2021. # Commission is payable to LIC. ## Sitting fees/Commission were paid/are payable to Khaitan & Co., in which Mr. Haigreve Khaitan is a Partner. ^ Mr. CP Gurnani being a Whole-time Director of Tech Mahindra Limited, has waived his right to receive Sitting fees for attending the Meetings of the Board of Directors or any Committee or any other remuneration payable to the Non-Executive Directors of the Company. The Non-Executive Directors were not granted stock options during the year under review. C. Remuneration paid/payable to the Whole‑time Directors for the year ended 31 st March, 2022 Remuneration to the Whole-time Directors is fixed by GNRC basis the approval of 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, 2022: 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 upto 11 th November, 2021) 474.59* 317.27 38.34 3.04 833.24 12 th November, 2016 to 11 th November, 2021 Dr. Pawan Goenka (Managing Director and Chief Executive Officer upto 1 st April, 2021) 213.72** 1.57 0.19 — 215.48 12 th November, 2020 to 1 st April, 2021 Dr. Anish Shah (Managing Director and Chief Executive Officer) 874.96 # — 48.03 265.71 @ 1,188.70 Deputy Managing Director and Group Chief Financial Officer from 1 st April, 2020 to 1 st April, 2021 and Managing Director and Chief Executive Officer from 2 nd April, 2021 to 31 st March, 2025 Mr. Rajesh Jejurikar, Executive Director (Automotive and Farm Sectors) 685.45 ## — 27.65 260.10 @@ 973.20 1 st April, 2020 to 31 st March, 2025 1 Includes Privilege Leave Encashment. 2 Aggregate of the Company’s contributions to Superannuation Fund and Provident Fund. * Includes Leave Encashment of Rs.214.45 lakhs and excludes Gratuity of Rs.536 lakhs paid upon retirement. ** Includes Leave Encashment of Rs.211.22 lakhs and excludes Gratuity of Rs.371.52 lakhs paid upon retirement. # This includes Performance pay of Rs.309.88 lakhs. ## This includes Performance pay of Rs.213.93 lakhs. @ This includes Rs.263.94 lakhs being perquisite value of ESOPs of the Company exercised during the year. @@ This includes Rs.254.14 lakhs being perquisite value of ESOPs of the Company exercised during the year. Notes: a. Notice period applicable to each of the Whole-time Directors is six months. b. Employee Stock Options, Commission and Performance Pay are the only components of remuneration that are performance-linked. All other components are fixed.