MAHINDRA & MAHINDRA LTD. | Integrated Annual Report 2022-23

160 MAHINDRA & MAHINDRA LTD. Integrated Annual Report 2022-23 The sitting fees paid to Non-Executive Directors and the commission payable to them for the year ended 31 st March, 2023 along with their respective shareholdings in your Company are as under: Name of Directors Sitting Fees paid for the Board and Committee Meetings held during the year ended 31 st March, 2023 (Rs. in Lakhs) Commission for the year ended 31 st March, 2023, 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, 2023 Mr. Anand G. Mahindra 14.40 250.00 14,30,008 Mr. Vikram Singh Mehta 21.50 45.00 20,000 Dr. Vishakha N. Desai 10.80 45.00 12,500 Mr. T. N. Manoharan 17.30 45.00 Nil Mr. Vijay Kumar Sharma (Nominee of LIC) 10.10 38.00 # Nil Mr. Haigreve Khaitan 18.50 ## 45.00 ## Nil Ms. Shikha Sharma 19.90 38.00 Nil Mr. CP Gurnani^ Nil Nil 2,290 Ms. Nisaba Godrej 10.60 38.00 Nil Mr. Muthiah Murugappan 11.50 38.00 Nil # 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, 2023 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, 2023: Directors (Rs. in Lakhs) Contract Period Salary Company’s Contribution to Funds 1 Perquisites and Allowances Total Dr. Anish Shah (Managing Director and Chief Executive Officer) 1,193.61 # 51.54 398.82 @ 1,643.97 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 and CEO (Auto and Farm Sector) 937.40 ## 34.71 302.24 @@ 1,274.35 1 st April, 2020 to 31 st March, 2025 Designated as Executive Director (Automotive and Farm Sectors) upto 14 th March, 2023 and re-designated as Executive Director and CEO (Auto and Farm Sector) from 15 th March, 2023. 1 Aggregate of the Company’s contributions to Superannuation Fund and Provident Fund. # Includes Performance pay of Rs. 396 lakhs. ## Includes Performance pay of Rs. 345 lakhs. @ Includes Rs. 397.43 lakhs being perquisite value of ESOPs of the Company exercised during the year. @@ Includes Rs. 301.06 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 and Performance Pay are the only components of remuneration that are performance-linked. All other components are fixed. c. There is no separate provision for payment of Severance Fees.