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ANNUAL REPORT 2018 - 2019

“RESOLVED THAT in modification of the earlier Chennai and in other cities it will be 40% of the basic
resolution passed by the Shareholders of the salary.
Company at the 42nd Annual General Meeting
HousingII:
(AGM) held on 27th September, 2017 and upon the
recommendation of the Nomination and In case the accommodation is owned by the
Remuneration Committee of the Board and in Company,10%ofthesalaryshallbedeductedbythe
accordance with the provisions of Sections 196,197, Company.
203 and other applicable provisions,if any,read with HousingIII:
Schedule V of the Companies Act,2013 as amended
In case the Company provides no accommodation,
read with Rules made thereunder and applicable
provisions of SEBI (Listing Obligations and he shall be entitled to house rent allowance subject
totheceilinglaiddowninHousingI.
Disclosure Requirements) Regulations, 2015
(hereinafter referred to as“SEBI (LODR) Regulations, ii) Bonus@20%oftheAnnualSalaryperyear
2015”)(includinganystatutorymodification(s)orre-
iii) Medical Reimbursement – Expenses incurred for
enactment thereof for the time being in force) the
self and family subject to a ceiling of one month’s
consent of the members of the Company be and is salaryinayear.
hereby accorded for revision in the remuneration
payable to Mr.Yashvardhan Ruia, Executive Director iv) LeaveTravelConcession–Forselfandfamilyonce
of the Company with effect from 1st April, 2019 for inayearaccordingtotherulesoftheCompany.
the remainder of the tenure of his office i.e. till 31st v) Club fees - Fees of clubs,subject to a maximum of
May, 2020 and the minimum remuneration payable two clubs but this will not include admission and
to him in case of absence or inadequacy of profits in lifemembershipfees.
any year, with powers to the Board, which shall
vi) Personal Accident Insurance – Premium not to
include any Committee thereof,to alter,amend,vary
exceed 15,000/-inayear.`
and modify the terms and conditions of the said
appointment and remuneration payable to him Explanation-Family means the spouse and the
from time to time as it deems t in such manner asfi dependentchildrenoftheExecutiveDirector.
may be mutually agreed upon, on such terms and
CATEGORY‘B’
conditionsassetbelow :
The Executive Director shall also be eligible to the
Designation : ExecutiveDirector
following perquisites,which shall not be included in
1. Period : the computation of the ceiling for the purpose of
remunerationorminimumremuneration.
The revised remuneration shall be effective from 1st
April,2019till31stMay,2020. A. Contribution to Provident Fund and Super
Annuation Fund to the extent not taxable under the
2. Remuneration:
IncomeTaxAct,1961.
The revised remuneration payable to him shall be as
B. Gratuity payable at a rate not exceeding half a
follows :
month’ssalaryforeachcompletedyearofservice.
a) Salary: 1,50,000/-permonth.`
C. EncashmentofLeaveattheendofthetenure.
b) Perquisites : Perquisites are classified into Three
CATEGORY‘C’
categoriesA,B,Casfollows :
Provision of Car for use on Company’s business and
CATEGORY‘A’
telephone at residence will not be considered as
i) HouseRentAllowance: perquisites.

HousingI: In case of loss or inadequacy of profits in any
financial year,the Executive Director will be entitled
House Rent Allowances to the extent 50% of the
to a minimum remuneration by way of salary and
basic salary in case Mumbai,Kolkata,New Delhi and
perquisites as specified above subject to the limits
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NOTICE