Page 89 - BCML AR 2019-20

BALRAMPUR CHINI MILLS LIMITED

AnnExuRE II
statemeNt of discLosURe of RemUNeRatioN UNdeR
sectioN 197(12) of compaNies act, 2013 aNd RULe 5(1) of
the compaNies (appoiNtmeNt aNd RemUNeRatioN of

maNageRiaL peRsoNNeL) RULes, 2014 (as ameNded)

I. The ratio of the remuneration of each director to the median increase in the managerial remuneration:
remuneration of the employees of the Company for the Average percentile increase already made in the salaries of
financial year 2019-20:
employees other than the managerial personnel in the last
Name Designation Ratio financial year: 9.73
Shri Vivek Saraogi Managing Director 251:1 Percentile increase in the managerial remuneration: 8.49%
Dr. A. K. Saxena Whole-time Director 12:1 Justification – Remuneration paid to the managerial personnel
II. The percentage increase in remuneration of each director, are as per recommendation of the Nomination & Remuneration
Chief Financial Officer, Chief Executive Officer and Company Committee and as approved by the Board and the Shareholders
Secretary in the financial year 2019-20: of the Company. There is no exceptional increase in the
managerial remuneration and the same is less than the increase
Name Designation % increase in in the salaries of employees other than managerial personnel
remuneration and therefore no justification is required.
Shri Vivek Saraogi Managing Director -1.37
VI. Affirmation that the remuneration is as per the remuneration
Dr. A. K. Saxena Whole-time Director 18.35
policy of the Company:
Shri Pramod Chief Financial Officer 16.56
Patwari It is hereby affirmed that the remuneration paid during the year
Shri Nitin Bagaria* Company Secretary 9.61 2019-20 is as per the Remuneration Policy of the Company.
Notes:
*Ceased with effect from 5th May, 2020
1. The Non-Executive Directors of the Company are entitled for
III. The percentage increase in the median remuneration of sitting fees and commission as per the statutory provisions
employees in the financial year 2019-20: and within the limits approved by the shareholders of the
Company. The details of remuneration of Non-Executive
The median remuneration of the employees increased by
5.27% in the financial year 2019-20. Directors are provided in the Report on Corporate Governance
and is governed by the Policy on Selection & Remuneration
IV. The number of permanent employees on the rolls of the of Directors, Key Managerial Personnel and other employees
Company: and on Board Diversity of the Company, as provided in the
There were 6022 number of permanent employees on the rolls Annual Report. In view of this, the calculation of the ratio of
of the Company as on 31st March, 2020. remuneration and percentage increase in remuneration of
Non-Executive Directors would not be meaningful and hence
V. Average percentile increase already made in the salaries of not provided.
employees other than the managerial personnel in the last
financial year and its comparison with the percentile increase 2. Permanent employees on the rolls of the Company includes
in the managerial remuneration and justification thereof Permanent and Seasonal Permanent employees but does
and point out if there are any exceptional circumstances for not include Badli Workers, Retainers, Advisors, Trainees /
Apprentices, etc.

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