Schedules forming part of the Financial ... - Thomas Cook India

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Report of the Recruitment & Remuneration Committee to the Members
Thomas Cook (India) Limited
The Recruitment & Remuneration Committee met thrice during the year under review ie. January to December 2011, on 17th February, 2011,
26th July, 2011, and 21st October, 2011, and the requisite quorum was present from among the following members of the Committee:
Name of the Director Designation
A.V. Rajwade Chairman
Ramesh Savoor Member
Krishnan Ramachandran Member
Dr. D. Prasanth Nair, President & Head - Human Resources & Financial Services, is the Rapporteur of the Committee for the meetings.
Salaries:
The Committee reviewed and approved the compensation payable to the Executive Directors of the Company for the year under review within
the overall limits approved by the shareholders. Information on compensation and other benefits provided to Executive Directors is disclosed in
the Annual Report. The Committee also approved the compensation for the Group Leadership Team. The Committee will endeavour to constantly
benchmark the Compensation & Benefits payable to the Group Leadership Team in the Company with the market trends and will take necessary
steps to enable motivation and retention of key talent.
Non-Executive Directors:
Non-Executive Directors are paid compensation not exceeding the limit specified by statute and based on the approval of the members of the
Company. This is to compensate the Non-Executive Directors for their contribution on various deliberations at the meeting/s and also for the
responsibilities undertaken.
The table below discloses the compensation payable to Non-Executive Directors for the period ended 31st December, 2011 for Thomas Cook
(India) Limited and its subsidiaries.
Sr.
No.
Name
Thomas Cook (India) Limited
Days Amount Rs.
1 Mr. Hoshang Shavaksha Billimoria 365 1,250,000/-
2 Mr. Anant Vishnu Rajwade 365 1,250,000/-
3 Mr. Ramesh A. Savoor 365 1,250,000/-
4 Mr. Mahendra Kumar Sharma 365 1,250,000/-
5 Mr. Krishnan Ramachandran 365 1,250,000/-
Total
Travel Corporation (India) Limited
6,250,000/-
1 Mr. Hoshang Shavaksha Billimoria 365 * Nil
* Due to non availability of distributable profits.
Save other than as disclosed, none of the Directors had a material beneficial interest in any contract of significance to which the Company or any
of its subsidiary undertakings was a party, during the financial year.
Mumbai
Date : 16th February, 2012
A.V. RAJWADE
Chairman
Recruitment & Remuneration Committee