35 No. Name Remuneration during the year Sitting fees Salary and perquisites Commission Total 7. Jyotin Mehta 1,30,000 - - 1,30,000 8. Dipali Sheth - - - - 9. Drushti Desai - - - - 10. Venkatraman Srinivasan - - - - *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 Schedule V of the Companies Act, 2013. Accordingly, an amount of ` 18.25 lakhs was paid to Atul Ltd for the year 2023-24. Sitting fees of up to ` 40,000 per meeting constitute fees paid to the Independent Directors for attending Board | Committees and other meetings. Commission of up to 1% of the net profit of the Company to the Non-executive Directors was approved by the members of the Company at the AGM held on September 08, 2022, for a period of five years, effective April 01, 2022. The Board approves within the aforesaid limit as per the Remuneration Policy of the Company, the commission payable to the Non-executive Directors. 3. Committees of the Board The Board has constituted the following committees: a) Audit Committee b) Corporate Social Responsibility Committee c) Nomination and Remuneration Committee d) Stakeholders Relationship Committee 3.1 Audit Committee 3.1.1 Role a) Approving: i) appointment of the Chief Financial Officer ii) transactions with related parties and subsequent modifications thereof b) Conducting: i) pre-audit discussions with the Auditors regarding the nature and scope of the audit and post-audit discussion to ascertain any area of concern ii) valuation of undertakings or assets, wherever necessary c) Formulating: i) code of conduct and related matters ii) scope, functioning, periodicity and methodology for conducting the internal audit in consultation with the Internal Auditor
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