(II) Remuneration Policy for Directors, Key Managerial Personnel and other employees
A. NON-EXECUTIVE DIRECTORS (NEDs)
NEDs shall be paid a sitting fee of Rs. 50,000/- for every meeting of the board or committee thereof attended by them as member.
NEDs shall be paid commission upto an aggregate amount not exceeding 1% of the net profits of the company for the year. The payment of commission shall be based on their attendance at the board and the committee meetings as member.
With effect from 1 April 2015, NEDs shall be paid commission at the rate of Rs. 100,000/- for every meeting of the board and committee thereof attended by them as member.
Additional commission, apart from commission referred to above, may be paid to non-executive directors as may be decided by the board of directors of the company from time to time, depending on the extra time and effort as may be devoted and contribution as may be made by the non-executive directors.
The company has no stock options plans and no payment by way of bonus, pension, incentives etc. shall be paid.