Arohan Financial Services Limited | Annual Report 2021-22

Annexures to Director’s Report | 115 Annual Report | 2021-2022 Remuneration details of Directors, KMPs, Employees (Contd.) Sl. No Particulars Disclosures 9. Comparison of the each remuneration of the Key Managerial Personnel against the performance of the Company The Company’s Total Comprehensive income has grown by 134.51% however revenue has degrown by 9.20% in FY 2021-22 in comparison to FY 2020-21. The average increase in remuneration of KMP in the FY 2021-22 was 13.94%. 10. The key parameters for any variable component of remuneration availed by the Directors Yearly incentive as per employment terms based on the company’s performance and profits. 11. The ratio of the remuneration of the highest paid director to that of the employees who are not directors but receive remuneration in excess of the highest paid director during the year No employee received remuneration in excess of the highest paid director. 12. Affirmation that the remuneration is as per the remuneration policy of the company Yes. A statement showing the name of every employee of the Company, who: a) If employed throughout the financial year, was in receipt of remuneration for that year which, in the aggregate, was not less than one crore two lakh rupees; Mr. Manoj Kumar Nambiar – Managing Director b) if employed for a part of the financial year, was in receipt of remuneration for any part of that year, at a rate which, in the aggregate, was not less than eight lakhs fifty thousand rupees per month: Nil. c) if employed throughout the financial year or part thereof, was in receipt of remuneration in that year which, in the aggregate, or as the case may be, at a rate which, in the aggregate, is in excess of that drawn by the managing director or whole-time director or manager and holds by himself or along with his spouse and dependent children, not less than two percent of the equity shares of the company : Nil. Sl. No Particulars Details 1 Designation Managing Director 2 Remuneration received INR 138.61 Lakhs 3 Nature of employment, whether contractual or otherwise Permanent 4 Qualification and Experience Manoj Kumar Nambiar is the Managing Director of Arohan. He has been a Director since October 2012, when he was appointed as the Managing Director of the Company with effect from October 3, 2012 when the Aavishkaar Group became the institutional promoter. He holds a Bachelor’s degree in Mechanical Engineering from VJTI Mumbai and a Master’s degree in Management Studies from the JBIMS, University of Bombay. He has also completed the ‘Strategic Leadership in Microfinance’ course from Harvard Business School, Boston USA and has also successfully completed “Strategem – Strategy Meets Leadership” Programme from INSEAD, Fontainebleau, France. Previously, he has worked with Modi Xerox India Limited, Countrywide Consumer Financial Services Limited, ANZ Grindlays Bank, ABN Amro Bank N.V., National Bank of Oman, Alhamrani Company for Investment in Trade, KSA and Ahli Bank Oman. He has been on the governing board of MFIN, the Self-Regulatory Organization for NBFC-MFIs recognizedbytheRBI, for6years includingas thePresident/Chairman in2015/16, 2019/20 and 2020/21. He is currently the Lead of the Steering Committee of 39 MFI lenders in Assamworking with the state government on AMFIRS’21. 5 Date of commencement of employment September 28, 2012 6 Age 56 7 The last employment held MD & CEO of IntelleCash Microfinance Network Company (P) Limited 8 % of equity shares held Nil