Page 105 - Kolte Patil AR 2019-20
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y y To recommend the Board the policy related to the remuneration   Name of the Member Designation Category  No. of
               of for Directors, Key Managerial Personnel, Senior Management                            meetings
               Personnel (SMP)and other employees;                                                      attended
            y y To formulate the criteria for effective evaluation of performance   Mr. Jayant Pendse  Chairman  Independent   3
               of Board of Directors, its Committees, Chairperson and                       Director
               individual Directors (including Independent  Directors), to   Mr. Prakash Gurav  Member  Independent   3
               be carried out either by the Board or by NRC or through an                   Director
               independent external agency and review its implementation   Mr. G. L. Vishwanath  Member  Independent   3
               and compliance;                                                              Director
            y y To carry out evaluation performance of every Director of the   Mrs. Manasa   Member  Independent   3
               Company;                                         Vishwanath                  Director
            y y To determine whether to extend or continue the term of   Mr. Umesh Joshi  Member  Independent   1
               appointment of the independent Director, based on the report                 Director
               of performance evaluation of Independent Directors;  Mrs. Sunita Kolte  Member  Non-        3
            y y To devise a policy on diversity of Board of Directors;
            y y To identify persons who are qualified to become directors and
               who may be appointed in senior management in accordance   d)  Remuneration Policy
               with the criteria laid down, and recommend to the board of      The remuneration structure for Directors, Key Managerial
               directors their appointment and removal;            Personnel and other employees is performance driven and
            y y To formulate and  recommend  to the  Board of Directors the   in considering the remuneration payable to the directors,
               policy  relating  to  the  stock  options  to  the  employees,  grant   the Nomination and Remuneration Committee considers
               the  stock  options  to  the  eligible  employees  and  review  the   the performance of the Company, the current trends in the
               management of stock option scheme;                  industry, and the experience of the appointee, their past
            y y To allot shares under ESOS to the employees who has exercise   performance and other relevant factors.
               the options granted to them;                        The Company’s Remuneration Policy for Directors, Key
            y y To recommend to the board, all remuneration, in whatever   Managerial  Personnel  and  other  employees  is  annexed  as
               form, payable to senior management;                 Annexure II to the Directors’ Report.  We hereby affirm that
                                                                   the remuneration paid to the directors is as per the terms laid
            y y Carry out functions as may be entrusted (i) by the Board of
               Directors from time to time; and (ii) by the virtue of applicable   out in the Remuneration Policy for Directors, Key Managerial
               provisions  of  the  Companies  Act,  2013  (iii)  the  SEBI  (Listing   Personnel  and  other  employees.  Further,  the  Company  has
               Obligations and Disclosure Requirements) Regulations,   devised a Policy for performance evaluation of Independent
               2015 and any other applicable provisions of Laws, as may be   Directors, Board, Committees and other individual Directors.
               amended from time to time.                      e)  Performance evaluation criteria for Independent Directors
            b)  Meetings of Nomination and Remuneration Committee     On the basis of the Policy for performance evaluation of
                                                                   Independent Directors, Board, Committees and other individual
               During the financial year 2019-20, the Nomination and
               Remuneration Committee met three (3) times on –     Directors, a process of evaluation was followed by the Board for
                                                                   its own performance and that of its Committees and individual
               i)   28 May 2019                                    Directors.
               ii)  11 November 2019
                                                               f)  Details of sitting fees paid to the Non-Executive Directors
               iii)  07 February 2020                              The Company does not pay any remuneration to its Non-
            c)  Composition of Nomination and Remuneration Committee  Executive Directors apart from sitting fees. The sitting fees paid
               The composition of the Nomination and Remuneration   to each Non-Executive Director is  C50,000/- for each Board
               Committee as on 31 March 2020 and attendance of members   Meeting. The Details of sittings fees paid for the financial year
               in the meetings held during the financial year 2019-20 are as   2019-20 are as follows:-

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