MAHINDRA & MAHINDRA LIMITED 23 Remuneration: Mr. Khaitan would be entitled to sitting fees for attending the Meetings of the Board of Directors and Committees thereof. In addition, he would be entitled to commission as determined each year by the Board of Directors within the limits approved by the Members of the Company for the Non-Executive Directors of the Company. The sitting fees during the Financial Year 2023-24 amounting to Rs. 19.20 lakhs have been paid to Khaitan & Co., in which Mr. Haigreve Khaitan is a Partner. However, going forward both sitting fees and commission [including commission for the Financial Year 2023-24 amounting to Rs. 45 lakhs] will be paid to Mr. Haigreve Khaitan. Professional fees for the year under review to Khaitan & Co., (Mumbai and Kolkata), Advocates & Solicitors and Khaitan & Co. LLP, Advocates and Solicitors, in which Mr. Haigreve Khaitan, NonExecutive and Independent Director is a Partner, amounted to Rs. 518.85 lakhs and Rs. 71.39 lakhs (including out of pocket expenses), respectively. The fees received by Khaitan & Co., (Mumbai and Kolkata) and Khaitan & Co. LLP from the Company, its Subsidiary or Associate companies do not exceed ten per cent or more of the gross turnover of Khaitan & Co., (Mumbai and Kolkata) and Khaitan & Co. LLP, respectively. Ms. Shikha Sharma: Profile: Ms. Shikha Sharma has completed 65 years of age. Ms. Shikha Sharma holds Post Graduate Diploma in Management from IIM, Ahmedabad, Post Graduate Diploma in Software Technology from National Center for Software Technology and B.A. (Hons.) in Economics. She was the Managing Director & CEO of Axis Bank, India's third largest private sector bank, from June, 2009 to December 2018. During her tenure as Managing Director & CEO, Axis Bank witnessed multiple growth in the network, market capitalization & in consumer lending business and transformed Axis Bank into a digital leader in mobile banking and digital payments. She was the founder Managing Director & CEO of ICICI Personal Financial Services from May, 1998 to December, 2000, during which she founded ICICI Bank’s retail lending business. She was a founding team member of ICICI Securities in joint venture with JP Morgan. Ms. Sharma was the Managing Director and CEO of ICICI Prudential Life Insurance Company from December, 2000 to June, 2009 during which she founded and scaled the largest private life insurance company in India. She has deep understanding of business through data and analytics and has ability to build businesses on customer insight and tech execution as well as hire, groom and develop strong leaders. She featured in the 50 most powerful women in Business by Fortune, Top 20 women in finance by Finance Asia and as Banker of the Year by Business Standard. She has also received AIMA JRD Tata Corporate Leadership and Outstanding Businesswoman of the Year by CNBC TV18 Awards. Directorships: Ms. Shikha Sharma is an Independent Director of Mahindra & Mahindra Limited, Tech Mahindra Limited, Tata Consumer Products Limited, Dr. Reddy’s Laboratories Limited, Mahindra Electric Automobile Limited and Non-Executive and Non-Independent Director of Piramal Enterprises Limited. She is an advisor to Piramal Enterprises Limited, Billionbrains Garage Ventures Private Limited (“Groww Group”), Bahaar Foundation - a unit of Akshati Charitable Trust, McKinsey & Company Singapore Pte Ltd and a Member of the Board of Governors of IIM, Lucknow. She is also a consultant to Google India Digital Services Private Limited. Committee positions: Sr. No. Name of the Company/Entity Name of the Committee(s) Position Held 1. Mahindra & Mahindra Limited Audit Committee Member Governance, Nomination & Remuneration Committee Member Risk Management Committee Member Strategic Investment Committee Member 2. Tech Mahindra Limited Investment Committee Chairperson Risk Management Committee Chairperson Nomination and Remuneration Committee Member 3. Tata Consumer Products Limited Nomination and Remuneration Committee Chairperson Audit Committee Member Corporate Social Responsibility and Sustainability Committee Member Risk Management Committee Member 4. Dr. Reddy’s Laboratories Limited Risk Management Committee Chairperson Audit Committee Member 5. Piramal Enterprises Limited Risk Management Committee Chairperson Corporate Social Responsibility Committee Chairperson Financial Services Approval Committee Member 6. Mahindra Electric Automobile Limited Nomination & Remuneration Committee Chairperson Audit Committee Member 7. IIM Lucknow Nomination Committee Chairperson Resignation as a Director from Listed Entities in the past three years: Ms. Shikha Sharma resigned as a Director of Ambuja Cements Limited on 16th September, 2022. Further, she ceased to be an Independent Director of Tata Coffee Limited on 1st January, 2024 pursuant to its merger with Tata Consumer Products Limited. Attendance at Board Meetings: During the year 1st April, 2023 to 31st March, 2024, 9 Board Meetings of the Company were held, and Ms. Sharma had attended 8 Meetings.
RkJQdWJsaXNoZXIy NTE5NzY=