Amal Ltd 2017-18

27 2.6 Appointment | Cessation » Appointed: nil » Ceased: nil » Resigned: nil 2.7 Remuneration No. Name Remuneration during the year ( ` ) Sitting fees Salary and perquisites Commission Total 01. Chairman S S Lalbhai - - - - 02. Managing Director R Kumar - 11,44,500 - 11,44,500 Non-executive Directors 03. T R Gopi Kannan - - - - 04. S A Shah 1,40,000 - - 1,40,000 05. A R Jadeja 1,80,000 - - 1,80,000 06. S Mahalakshmi 1,40,000 - - 1,40,000 Sitting fees of ` 20,000 per meeting constitute fees paid for attending Board meetings and ` 10,000 per meeting for attending the Committee meetings to the Non-executive Independent Directors. *Represents lower of 10% of the remuneration paid by Atul Ltd to the Managing Director (being an employee of Atul Ltd) or an amount allowable under Section I or Section II of Part II of the Schedule V of the Companies Act, 2013. Accordingly, an amount of ` 11,44,500 was paid to Atul Ltd for the year 2017-18. 3. Committees of the Board The Board has constituted the following Committees: » Audit Committee » Nomination and Remuneration Committee » Stakeholders Relationship Committee » Corporate Social Responsibility Committee 3.1 Audit Committee 3.1.1 Role i) Approving: » appointment of the Chief Financial Officer » transactions with Related Parties and subsequent modifications thereof ii) Conducting: » pre-audit discussions with the Auditors regarding nature and scope of the audit and post-audit discussion to ascertain any areas of concern » valuation of undertakings or assets, wherever necessary iii) Formulating: » scope, functioning, periodicity and methodology for conducting the Internal Audit in consultation with the Internal Auditor » Code of Conduct and related matters