2003-2004 - Cgglobal.com

The details of remuneration paid to the Managing Director for the financial year
2003-04 is as under:
Salary Perquisites Retirement Performance Others Total
Rs. Rs. Benefits Incentive/ Rs. Rs.
Rs. Commission Rs.
Mr SM Trehan, 48,00,000 7,98,191 12,99,200 24,00,000* 30,00,000* 1,22,97,391
Managing Director
*The remuneration amounts under ‘Performance Incentive/Commission’ and
‘Others’ are subject to Members approval at the 67th Annual General Meeting.
A service contract exists with the Managing Director which contains his service
terms and conditions including remuneration, notice period, severance fees etc, as
approved by the Members.
Non-Executive Directors
The Members, at the 63rd Annual General Meeting of the Company held on 10th
August, 2000, approved payment of commission to Non-Executive Directors not
exceeding 1 per cent of the net profits of the Company per annum, computed in
the manner provided in Section 309(5) of the Companies Act, 1956. In terms of
this approval, the Board of Directors has decided the actual amount of
commission and its distribution amongst the Non-Executive Directors.
With effect from 27th January, 2004, as permitted by Article 113(2) of the
Company’s Articles of Association read with Notification No. GSR 580(E) dated
24th July, 2003, issued by the Department of Company Affairs, the sitting fees
paid to Non-Executive Directors were increased to Rs. 20,000/- per Board and
Committee Meeting, in the context of the increasing demands on the time of and
contributions required from Non-Executive Directors.
The details of remuneration paid to the Non-Executive Directors for the financial
year 2003-04 is as under:
Name of the Director Sitting Fees Commission Total
Rs. Rs. Rs.
Mr KK Nohria 1,00,000 2,25,000 3,25,000
Mr G Thapar 45,000 32,85,000 33,30,000
Mr S Bisht 75,000 2,25,000 3,00,000
Dr O Goswami 20,000 50,000 70,000
(From 27.01.2004)
Mr PC Gupta 40,000 1,80,000 2,20,000
(Upto 27.12.2003)
Mr S Labroo 5,000 50,000 55,000
(From 28.10.2003)
Mr K Thapar 45,000 32,85,000 33,30,000
The apportionment of commission to Mr G Thapar and Mr K Thapar is higher, in
view of their significant additional involvement in Company matters, as compared
to other Non-Executive Directors, in their role as members of the Management
Committee.
The Company presently does not have any Stock Option Plans or Schemes thereunder.
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