Page 89 - Arvind 2024

Corporate Overview
Statutory Reports
Financial Statements
The Directors were satisfied with the evaluation results, which reflected the overall engagement of the Board and its Committees with the Company.
4.4 Remuneration of Directors:
Remuneration of Executive Directors is recommended by the Nomination & Remuneration Committee and approved by the Board of Directors and the Shareholders of the Company.
The remuneration of Non-Executive Directors is determined by the Board and is also approved by the Shareholders. Non-Executive Directors are paid Sitting Fees of Rs. 50,000/- for every meeting of Board of Directors and Rs. 20,000/- for every meeting of Committees attended by them. Apart from this, Non-Executive Directors (other than Managing Director and Whole Time Director(s)) are entitled for commission not exceeding 1% of the net profits of the Company per annum.
Details of remuneration to all the Directors for the financial year 2023-24 is as under:
Sr. No.
Name of Director
Salary
Perquisites & Allowances
Sitting Fees
Retrial Benefits
Commission / Bonus
1 Mr. Sanjay S. Lalbhai
2 Mr. Kamal Singal
3 Mr. Kulin S. Lalbhai
4 Mr. Pratul Shroff
5 Mr. Prem Prakash Pangotra
6 Mr. Nirav Shah
7 Ms. Pallavi Vyas
8 Mr. Vipul Roongta
Nil Nil 2,80,000
3,48,45,133 3,19,084 Nil
Nil Nil 1,50,000
Nil Nil 1,60,000
Nil Nil 3,80,000
Nil Nil 2,70,000
Nil Nil 2,60,000
Nil Nil Nil
Nil
14,13,863
Nil
Nil
Nil
Nil
Nil
Nil
(Amount in Rs.)
4,00,000
75,00,000
22,00,000
5,00,000
5,00,000
5,00,000
4,00,000
Nil
The details of stock options granted to the eligible employees under Arvind infrastructure Stock Option Scheme 2016 (ESOP-2016) is provided in the Director’s Report of the Company.
Please refer point No. 7 - Employee Stock Option Scheme in Director’s Report.
(a) There is neither any pecuniary relationship nor any transactions of the Non-Executive Directors i.e. Mr. Sanjay S. Lalbhai, Mr. Kulin S. Lalbhai, Mr. Pratul Shroff, Mr. Prem Prakash Pangotra, Mr. Nirav Shah, Ms. Pallavi Vyas and Mr. Vipul Roongta vis-à-vis the Company except remuneration paid as above.
(b) The Company has disclosed the criteria of making payment to Non-Executive Directors and the same can be accessed at the following Web-link: https://www.arvindsmartspaces.com/wp-content/ uploads/2022/02/Criteria_of_making_payment_to_Non_Executive_Directors.pdf.
5. STAKEHOLDERS’ RELATIONSHIP COMMITTEE
The Board of Directors of the Company has constituted the Stakeholders’ Relationship Committee (“SRC”) in compliance with the provisions of Section 178(5) of the Companies Act, 2013 and Regulation 20 of the Listing Regulations. The SRC of the Company comprises of 4 (four) Directors out of which 2 (two) are Non-Executive Independent Directors, 1 (one) is Non-Executive Director and 1 (one) is Executive Director. Mr. Sanjay S. Lalbhai, Non-Executive Director, acts as Chairman of the Committee.
The brief terms of reference and composition of committee are as follows:
5.1 Brief description of the terms of reference:
1. Resolving the grievances of the security holders of the company including complaints related to transfer/ transmission of shares, non-receipt of annual report, non-receipt of declared dividends, issue of new/ duplicate certificates, dematerialization / rematerialization of Shares and debentures, general meetings etc.
2. Review of measures taken for effective exercise of voting rights by shareholders.
3. Review of adherence to the service standards adopted by the company in respect of various services being rendered by the Registrar & Share Transfer Agent.
4. Review of the various measures and initiatives taken by the company for reducing the quantum of unclaimed dividends and ensuring timely receipt of dividend warrants/annual reports/statutory notices by the shareholders of the company.
Limited - Employee
Annual Report 2023-24 | 87