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TC Limited
Report on Corporate Governance
Remuneration Policy
Details of Remuneration paid to the Directors during
ITC's remuneration strategy aims at attracting and
the financial year ended 31st March, 2009
retaining high calibre talent. The remuneration policy,
(Rs. in Lakhs)
therefore, is market-led and takes into account the
Directo
Consolidated
Perquisites
Performance
Sitting|
Tota
competitive circumstance of each business so as to
Salary
Ind other
Bonus
Fees
attract and retain quality talent and leverage
Benefits
| Commission
performance significantly.
Y G Deveshwar
240 00
38.80
480 00
758 80
Remuneration of Directors
A. Singh
108 00
22 73
62.0
292 73
Remuneration of Executive Directors is determined
K. Vaidyanath
93 06
21 10
139 50
253 60
by the Compensation Committee comprising only
Non-Executive Directors. The recommendations of the
A. Baijal
2.71
0 80
3.51
Compensation Committee are considered and approved
R K Kaul
2 60
130
3.90
by the Board subject to the approval of the Shareholders.
S. H. Khan
4.00
1 00 5.00
The Chairman and Executive Directors are entitled to
Performance Bonus for each financial year up to a
S. B. Mathur
2.42#
3 00
5.42
maximum of 200% and 150% of their consolidated
D. K. Mehrotra
4 00*
0.60* 4.60
salary, respectively, as approved by the Shareholders,
H. G. Powell
NA
0.60
0.60
and as may be determined by the Board on the
recommendation of the Compensation Committee.
P. B. Ramanujam
4.00#
3.20
7 20
Non-Executive Directors are entitled to remuneration
A Buys?
NA
0.20
0.20
by way of commission for each financial year, up to a
B. Sen
4.00 2.60 6.60
maximum of Rs. 6,00,000/- individually, as approved
B. Vijayaraghavan
4 00
295 6.95
by the Shareholders. Non-Executive Directors
4 00*
4 00
commission is determined by the Board based, inter
J . P. Daly 3
alia, on the Company's performance and regulatory
GR Green
4 00
400
provisions. Such commission is payable on a uniform
S. S. H. Rehman '
104.81
33 61
162.00
300 4
basis to reinforce the principle of collective responsibility.
Non-Executive Directors are also entitled to sitting fees
Ram S. Tamea
4.00
0.80
4 80
for attending meetings of the Board and Committees
@ Waived entitlement to sitting fees.
thereof, the limits for which have been approved by
* Paid to the Institution / Company the Director represents.
the Shareholders. The sitting fees, as determined by
# Includes Rs.1.29 lakhs paid to the Institution the Director represented.
the Board, are presently Rs. 20,000/- for attending
Appointed Director w.e.f. 7th May, 2008.
each meeting of the Board, Audit Committee,
Appointed Director w.e.f. 20th January, 2009.
Ceased to be Director w.e.f. 8th January, 2009.
Compensation Committee, Nominations Committee
Ceased to be Director w.e.f. 1st April, 2008.
and Sustainability Committee and Rs. 5,000/- for each
Ceased to be Director w.e.f. 21st March, 2009.
meeting of the Investor Services Committee.
6. Ceased to be Director w.e.f. 27th August, 2008.
Non-Executive Directors are also entitled to coverage
Note: Disclosure with respect to Non-Executive Directors -
under Personal Accident Insurance.
Pecuniary relationship: None.
The Sustainability Committee will guide the Company
in integrating its social and environmental objectives
with its business strategies, and shape ITC's goals
in contributing to climate change mitigation.
ITC Report and Accounts 2009
15
Source: https://www.industrydocuments.ucsf.edu/docs/ynbx0223

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