Annual Reports - Indraprastha Gas Limited

The remuneration paid to the Executive Directors during the financial year are given below:
S. Name of Directors Salary & Perquisites Commission Contribution to Total
No. Allowances on Profits PF & Other Funds (In Rs.)
1. Shri Rajesh Vedvyas * 8,42,702 2,45,369 __ 62,814 11,50,885
2. Shri Manmohan Singh 15,55,066 5,99,545 __ 86,470 22,41,081
3. Shri Om Narayan ** 5,62,151 75,800 5,59,062 99,942 12,96,955
* Appointed as Managing Director w.e.f. July 29, 2008.
** Ceased to be Managing Director w.e.f. July 29, 2008.
Notes :
The aforesaid remuneration does not include :
• Rs.5,59,062 paid to Shri Manmohan Singh, Director (Commercial) towards commission on profit for the financial year
2007-08, since the amount was refunded by him and the same was subsequently paid to his parent organization BPCL as
per his advice.
• Rs.15,00,000/- payable to Executive Directors as commission on profit based on the period of directorship held during the
financial year ended on 31.03.2009, since the amount will be paid to their parent organization as per their advice.
Executive Directors are not paid any sitting fees for attending Board/ Committee meetings.
(b) Non-Executive Directors:
During the financial year under review total commission on profit of Rs.27,95,310/- was paid to Non-executive Directors / their
parent organisations for the financial year 2007 – 08. Total commission on profit of Rs.37,50,000/- is payable to non-executive
directors / their parent organisations for the financial year 2008-09.
Non-Executive Directors are paid sitting fees of Rs. 20,000/- & Rs. 10,000/- for attending each Board meeting & Committee
meeting respectively. Total sitting fees paid during the financial year under review was Rs.5,20,000/-
The Non-Executive Directors have disclosed that they do not hold any shares in the Company.
V. SHARE TRANSFER & INVESTORS GRIEVANCE COMMITTEE
COMPOSITION:
The Share Transfer & Investors Grievance Committee constituted by the Board comprises of four members with an Independent
Non-Executive Director as Chairman of the Committee.
The constitution of the Share Transfer & Investors Grievance Committee as on March 31, 2009:
(1) Shri S. S. Dalal : Chairman, Independent, Non-Executive
(2) Shri S. S. Rao : Member, Independent, Non-Executive
(3) Shri Rajesh Vedvyas : Member, Executive
(4) Shri Manmohan Singh : Member, Executive
SCOPE & FUNCTIONS OF SHARE TRANSFER & INVESTORS GRIEVANCE COMMITTEE:-
The scope & functions of the Committee inter alia include approval of transfer and transmission of shares and other matters like
consolidation/ splitting of certificates, issue of duplicate share certificates, dematerialisation/ rematerialisation of shares in stipulated
period of time. The Committee also supervises the system of redressal of Investors Grievances and ensures cordial investors
relations. Details of share transfer/rematerialisation/transmission etc as approved by the Committee are placed at the Board
Meetings from time to time.
COMPLIANCE OFFICER:-
Shri S.K. Jain, Company Secretary is the Compliance Officer.
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