Arohan Financial Services Limited | Annual Report 2022-23

| 88 Annual Report | 2022-2023 Sl. No Particulars Disclosures 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 230.62 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 Arohan with effect from October 3, 2012. He holds a bachelor's degree in mechanical engineering from VJTI and a master's degree in management studies from JBIMS, University of Bombay. He has also completed the 'Strategic Leadership in Microfinance' course from Harvard Business School, USA, "Strategy meets Leadership" course from INSEAD, Fontainebleau, France & "Leading for Impact" from IMD Lausanne, Switzerland. He has worked with various companies in the fields of business development, consumer banking & finance and microfinance across India and the Middle East. His previous employers include Xerox India Limited (formerly, Modi Xerox Limited), Countrywide Consumer Financial Services Limited, ANZ Grindlays Bank, ABN Amro Bank N.V., National Bank of Oman, Ahli Bank and Alhamrani Company for Investment in Trade. He is the Vice Chairperson of the Group Executive Council at Aavishkaar, the holding company. He has served on the governing board of MFIN, the microfinance sector SRO recognised by the RBI for 6 years from 2013 including as its President from July 2015 to June 2016 and then as Chairman twice from July 2019 to June 2021. He is currently the Lead of the Steering Committee of the 37 MFI lenders in Assam liaising with the state government on the AMFIRS'21, the microfinance incentive & relief scheme 2021. 5 Date of commencement of employment September 28, 2012 6 Age 57 7 The last employment held MD & CEO of IntelleCash Microfinance Network Company (P) Limited 8 % of equity shares held Nil Annexures to Director’s Report