II INFORMATION ABOUT THE APPOINTEE;
Background details.
Educationally, the proposed appointee is Intermediate Chartered accountant with
substantial experience in finance, accounts and taxation segments and has been undertaking
these activities for the company very effectively.
Past Remunerations:
During his immediately preceding tenure with the Company as an Executive Director Mr.
Malpani has been allowed and paid an all inclusive remuneration of Rs. 95000/- per months
as per details given hereunder:
| Basic Pay |
Rs. 50000.00 |
| HRA |
Rs. 11000.00 |
| CA |
Rs. 19000.00 |
| OtherAII |
Rs. 15000.00 |
| Total : |
Rs. 95,000.00 |
Besides above, the incumbent shall be admissible for LTA, Encashment of Leave and
Medical Allowance and payment of Bonus as per the rules of the Company.
Job profile. Recognition and award and suitability
Mr. Malpani is working with the company since last 6 years and has been found to
undertake, finance, accounts and taxation aspects of the company very efficiently and
effectively, although he does not have any sort of award or recognition and.it expected
that he would be instrumental to the company in effective management of accounts and
taxation functions of the Company.
Remuneration proposed.
The monthly remuneration proposed for payment to Mr. Rajendra Malpani shall be at the
rate with other allowances as paid to him during his preceding tenure which is
re-tabulated hereinabove.
Comparative remuneration profile with respect to industry, size of the Company:
Keeping in view the type of industry, size of the Company and its undertaking, inputs
required to run the company profitably, and training inputs given to her, the
responsibilities and capabilities of Mr. Malpani the proposed remuneration seems to be
very minimum as compared to the persons holding similar position with the remuneration
being paid in the identically placed companies.
Pecuniary relationship with the company and managerial personnel:
Except proposed payment of salary, the proposed appointee does not have any pecuniary
or other relationship with any other Director and managerial personnel of the Company.
III. OTHER INFORMATION;
Reason of Loss or inadequacy of profit;
Inadequate profit of the company appear to be result of generally weak demand, excess
of supply of rooms low turnover of foreign tourists, mushrooming unlicensed marriage halls
within the city where the hotel undertaking of the Company is located making dent in the
revenue of the Company, low spending by government and corporate clients culminated in the
decline of revenue of the Company.
Steps being taken/ proposed to be taken for improvements;
Deploying a trained woman candidates as ED, making efforts for cost cutting,
streamlining procedures, minimizing food cost and following more aggressive market
penetration, wooing corporate clients are the measures being undertaken by the Company for
improvement in the performance of the Company and the results seems to be very optimistic.
Expected increase in productivity in measurable terms:
With the deployment of aforesaid measures, the company has shown improvement in
clientele with slightly better financial results during the financial year under report
and the turnover of the Company has witnessed a growth of 5% (+)over the preceding
financial year. The Company hopes for better financial performance in the ensuing years.
IV. OTHER DISCLOSURES:
Stock option is not admissible in the Company so Other disclosures such as element of
remunerati details of fixed asset components of salary, serv contract etc has already been
set out here in above. 1 terms and conditions contained in the explanat statement shall,
along with the resolution placed approval of shareholders shall constitute the terms
contract of employment. No other formal serv contract is likely to be executed.
Except the appointee, none of the other Directors/K Managerial Personnel of the Company
and th relatives are, concerned or interested, financially otherwise, in the resolution
set out at item No. 4 of 1 notice.
The Board recommends the resolution set forth in it< No. 4 of the notice for
approval of the members.
SIKANDAR HAFIZ KHAN
Chairman & Mg. Director.
Bhopal:
Nov.21-11-2017