Note 46: Disclosures pursuant to the RBI Master direction circular RBI/DoR/2023-24/106 DoR.FIN.REC. No.45/03.10.119/2023-24 (Cont'd) F) Ratings assigned by credit rating agencies and migration of ratings during the year The details of ratings assigned by Credit Analysis & Research Limited (CARE) dated January 29, 2024 and ICRA Limited vide report dated January 10, 2024 and February 20, 2024 during the year are as follows: Facilities Ratings Remarks Long-term Bank facilities ICRA A (Stable outlook)/ CARE A (Stable outlook) Upgraded Non-Convertible Debentures ICRA A (Stable outlook)/ CARE A (Stable outlook) Upgraded Unsecured Subordinated Tier II Debt ICRA A (Stable outlook)/ CARE A (Stable outlook) Upgraded G) Remuneration including sitting fees of Directors (other than Managing Director) [Refer note 45] Name of Directors As at 31 March 2024 As at 31 March 2023 A. Director's commission: Dinesh Kumar Mittal 40.00 25.00 Matangi Gowrishankar 20.00 12.50 Rajat Mohan Nag 25.00 12.50 Sumantra Banerjee 20.00 12.50 Nitish Chawla 7.50 - Rupa Vora 12.50 - Vineet Chandra Rai 30.00 - Anurag Agrawal 20.00 - Wilhelmus Marthinus Maria Van Der Beek 10.00 - Piyush Goenka 10.00 - John Arunkumar Diaz 5.00 - Ulhas Sharadkumar Deshpande 5.00 - B. Sitting fees: Dinesh Kumar Mittal 7.15 4.60 Matangi Gowrishankar 6.65 7.00 Rajat Mohan Nag 9.40 5.80 Sumantra Banerjee 7.50 5.20 Ulhas Sharadkumar Deshpande 1.25 - John Arunkumar Diaz 2.00 - Rupa Vora 2.50 - viii) Additional Disclosures A) Provisions and Contingencies Break up of 'provisions and contingencies' shown under the head expenditure in Statement of Profit and Loss As at 31 March 2024 As at 31 March 2023 Provision towards standard assets (9,473.13) (15,668.18) Provision towards non performing assets (*) (2,440.21) 1,081.92 Provision made towards Income tax (including for earlier years and deferred tax) 9,861.13 1,923.73 Other provisions and contingencies (employee benefits) 219.31 368.59 (*) Does not include provision on accrued NPA interest as the same is netted off in income. Arohan Financial Services Limited Notes to financial statements for the year ended March 31, 2024 (Contd.) (All amounts in ` lakhs unless otherwise stated) 191 | Annual Report | 2023-2024
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