Board Evaluation
Pursuant to the Provisions of the Companies Act 2013 and
Listing Regulations, the Board has carried out the annual
performance evaluation of its own performance, its committees
and individual directors including Chairman of the Board. The
exercise was carried through a structured evaluation process
covering various aspects of the Board’s functioning such
as composition of Board and Committees, experience and
competencies, performance of specific duties and obligations,
governance issues etc.
The Directors express their satisfaction with the evaluation
process.
Remuneration
A. Remuneration to Independent Directors
The Independent directors are paid remuneration by way of
sitting fees for each meeting of the Board and Committee of
directors attended by them. The total amount of sitting fees
paid during the financial year 2015-16 was Rs. 13.60 Lakhs. The
Independent Directors do not have any pecuniary relationship or
transactions with the Company. The Criteria of making payment
to non- executive directors is disclosed in the remuneration
policy of the Company which is given as Annexure- 4 to the
Directors Report and is also disclosed on the website of the
Companyhttp://www.kajariaceramics.com/pdf/nomination_
remuneration_policy.pdf. The details of remuneration paid to
Independent Directors during the financial year ended 31st
March 2016 is as under:
S. No. Name of Non- Executive Director Sitting fees
(Rs. In Lakhs)
1 Mr. Raj Kumar Bhargava
2.40
2 Mr. Ram Ratan Bagri
3.60
3 Mr. Debi Prasad Bagchi
3.00
4 Mr. H. Rathnakar Hegde
3.00
5 Mr. Sandeep Singhal
-
6 Mrs. Sushmita Shekhar
1.60
B. Remuneration to Executive Directors
The appointment and remuneration of executive directors
including Chairman & Mg. Director and Whole Time Directors
is governed by the recommendations of the Nomination and
Remuneration Committee, resolutions passed by the Board of
Directors and shareholders of the Company. The remuneration
package and terms and conditions of appointment of Chairman
& Mg. Director and Whole Time Directors are governed by
the respective agreements executed between them and the
Company. Their remuneration package comprises of salary,
perquisites and commission, if any, as approved by the
shareholders at the General Meetings.
The details of remuneration paid to Executive Directors during the financial year ended 31st March 2016 is as under:
(Rs. in Lakhs)
S No. Name of Directors
Fixed Component
Performance Linked
Incentive
Total
1.
Mr. Ashok Kajaria
Salary
188.40
Perquisites & other
Benefits
147.58
Commission
–
Total
335.98
2.
Mr. Chetan Kajaria
159.00
124.55
354.00
637.55
3.
Mr. Rishi Kajaria
159.00
124.55
354.00
637.55
4.
Mr. Dev Datt Rishi
43.97
34.45
-
78.42
5.
Mr. Basant Kumar Sinha
32.94
22.51
-
55.45
Presently the Company does not have a scheme for grant of stock options to any director. As per the contract entered into with the
executive directors, there is a notice period of 3 months and there is no severance fee to be paid to the directors.
88
l
KAJARIA CERAMICS LIMITED
