Notice of 21st AGM to the members of NCDEX Ltd. - 27th September, 2024
03 September 2024
NOTICE is hereby given that the Twenty-First Annual General Meeting (the AGM) of Members of National Commodity & Derivatives Exchange Limited will be held on Friday, September 27, 2024, at 11:00 a.m. through Video Conference (VC) / Other Audio-Visual Means (OAVM) to transact the following business. The meeting venue shall be deemed to be the Registered Office of the Exchange on the First Floor, Akruti Corporate Park, Near G.E. Garden, L.B.S. Road, Kanjurmarg (West), Mumbai - 400078.
Ordinary Business:
- To consider and approve the audited financial statements (standalone and consolidated) of the exchange for FY24, along with the reports of the board of directors and auditors.
- To appoint or to replace Mr. Rakesh Kapur (DIN: 00007230), who is retiring but is eligible for re-appointment. This re-appointment is subject to the approval of the Securities and Exchange Board of India.
Special Business
- Approval is granted for Mr. Arun Raste, Managing Director & Chief Executive Officer, to receive remuneration for the fourth and fifth years of his appointment, from June 7, 2024, to June 6, 2026.
The shareholders have approved a yearly remuneration of `2.24 Crores and additional benefits for Mr. Arun Raste, Managing Director & Chief Executive Officer (DIN: 08561128) for the period from June 07, 2024, to June 06, 2026. This remuneration of `2.24 Cr per annum, along with the applicable additional benefits, is approved for Mr. Arun Raste for a period of 2 years, effective from June 07, 2024, to June 06, 2026.
Components | Amount in INR |
Fixed (Basic, allowances, retirals) | 1,27,00,000 |
HRA | 32,50,000 |
Reimbursements | 8,50,000 |
Total fixed | 1,68,00,000 |
Variable Pay | 56,00,000 |
Total Cost to Company | 2,24,00,000 |
Additional Benefits over and above the package like:
- Life and Accident Insurance, Group Medical Insurance, Leave Encashment, Broadband Reimbursement, Mobile Bill Reimbursement, and subsidized Canteen facility shall be applicable as per the prevalent policies of the Exchange.
- Provision of the Company Car with driver, maintenance, fuel, and insurance at actual.
- Provision of a Corporate Club facility.
These benefits as stated above can be considered at an approximate value of ` 12 Lakhs per annum.