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

161 COMPANY OVERVIEW BOARD’S REPORT MANAGEMENT DISCUSSION AND ANALYSIS CORPORATE GOVERNANCE BUSINESS RESPONSIBILITY AND SUSTAINABILITY REPORT STANDALONE ACCOUNTS CONSOLIDATED ACCOUNTS D. Remuneration paid/payable to Mr. Anand G. Mahindra, Non‑Executive Chairman for the year ended 31 st March, 2023 The remuneration of Mr. Anand G. Mahindra was recommended by GNRC and subsequently approved by the Board of Directors and thereafter by the Shareholders of the Company at the 75 th AGM held on 6 th August, 2021. Further, the Shareholders of the Company at the 76 th AGM held on 5 th August, 2022 pursuant to the provisions of Regulation 17(6)(ca) of the Listing Regulations, accorded their approval for payment of remuneration to Mr. Anand G. Mahindra for the Financial Year 2022-23, being an amount exceeding fifty percent of the total annual remuneration payable to all the Non-Executive Directors of the Company for the Financial Year 2022-23. Following is the remuneration paid/payable to Mr. Anand G. Mahindra as Non-Executive Chairman during the year ended 31 st March, 2023: Director(s) (Rs. in Lakhs) Remuneration Commission Total* Mr. Anand G. Mahindra 250 # 250 500 * In addition, Mr. Anand G. Mahindra is entitled to the Benefits under the Special Post Retirement Benefit Scheme of the Company. # Excludes Sitting Fees. E. The Stock Option granted to Directors, the period over which accrued and over which exercisable are as under: Name of Directors (alongwith their Designation) to whom Stock Options have been granted 2000 Scheme Options granted in December, 2001* Options granted in June, 2005** Options granted in September, 2006 Options granted in July, 2007 Options granted in August, 2008 Options granted in September, 2012 (1) (2) (3) (4) (5) (6) Dr. Vishakha N. Desai, Independent Director N.A. N.A. N.A. N.A. N.A. @ 10,000***** Mr. Vikram Singh Mehta, Independent Director N.A. N.A. N.A. N.A. N.A. *10,000 Dr. Anish Shah, Managing Director & Chief Executive Officer N.A. N.A. N.A. N.A. N.A. N.A. Mr. Rajesh Jejurikar, Executive Director & CEO (Auto and Farm Sector) *13,548 *15,000*** *12,824*** *13,492*** @ 25,178*** N.A. Name of Directors (alongwith their Designation) to whom Stock Options have been granted 2010 Scheme Options granted in January, 2011 Options granted in November, 2013 Options granted in August, 2015 Options granted in November, 2015 Options granted in November, 2018 Options granted in November, 2019 Options granted in November, 2020 Options granted in June, 2021 Options granted in March, 2022 % Options granted in March, 2022 ! Options granted in November, 2022 (7) (8) (9) (10) (11) (12) (13) (14) (15) (16) (17) Dr. Anish Shah, Managing Director & Chief Executive Officer N.A. N.A. *1,25,270**** Nil Nil *36,504 57,755 2,70,386 14,367 58,207 49,596 Mr. Rajesh Jejurikar, Executive Director & CEO (Auto and Farm Sector) @ 37,085 *44,282**** *40,733**** *13,578**** *18,882 *18,882 49,870 2,13,471 17,139 47,169 41,790 @ Unexercised Options lapsed. Notes: a. Mr. Anand G. Mahindra being a Promoter of the Company is not entitled to Stock Options. b. Mr. T. N. Manoharan, Mr. Vijay Kumar Sharma, Mr. Haigreve Khaitan, Ms. Shikha Sharma, Ms. Nisaba Godrej, Mr. Muthiah Murugappan and Mr. CP Gurnani have not been granted any Stock Options.