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Directors and Their Commitees
Ashok Kanodia
Mr. Ashok K Kanodia has over 37 years of experience in the field of Electronics and is the founder and promoter director of “Precision Electronics Ltd.”. He completed his bachelor’s degree with Physics honours from St Xavier College, Kolkata (Calcutta University) in 1970 and thereafter went for higher education at the prestigious Massachusetts Institute of Technology (MIT), USA, where he graduated in Electrical Engineering and Business Management. He has always been associated with various committees formulated for policy making. His leadership extends to shaping National Policies and Regulations as a Member of the IT/Telecom Hardware Task Force set up by the Prime Minister of India and as President of the Telecommunication Equipment Manufacturers Association (TEMA) of India, the only Government recognized association of domestic telecom equipment manufacturers. He served back-to-back terms from 1999 to 2001.
He was one of the four industry representatives in the “Kelkar Committee” set up by the Defence Minister ‘Towards strengthening self-reliance in Defence preparedness’, where the focus of the committee was to recommend policy measures and procedures to facilitate participation of the Private industry in National Defence capability building.
He is currently the Chairman of the Specialist Group on Defence MSME in the Confederation of Indian Industry (CII) and a National Defence Committee Member of the Federation of Indian Chambers of Commerce and Industry (FICCI) and Associated Chambers of Commerce (ASSOCHAM), apex Forums for Industry in India and has made several contributions as an industry representative in Defence international seminars, exhibitions and led industry delegations around the world. He is an acknowledged spokesperson of the Defence MSME units in India. He was a panel member of the MSME Ministry for the “Make in India” programme of the Prime Minister, a member of the Joint Working Group on Electronics System Design & Manufacturing [ESDM] and a Governing Council member of the TechnologyDevelopmentCenter[TDC] under the MSME Ministry. He is highly qualified and extremely well regarded in the industry, both in India as well as internationally.
He was reappointed as the Managing Director and Key Managerial Personnel of the Company in the Annual General Meeting held on September 26, 2015, for a period of 5 years w.e.f. August 14, 2015.
Nikhil kanodia
Mr. Nikhil Kanodia is a second-generation technocrat industrialist who graduated from Carnegie Mellon University, USA where he obtained his B.S. and M.S. degrees in Electrical and Computer Engineering. As an M.S. student, he worked as a Research Assistant under Prof. Dave Johnson, who is credited to be the father of “Mobile Ad-Hoc Networking”. As an Engineer in the late 90’s he contributed to the research of Gigabit Ethernet Technology and holds an Intellectual Patent for his work done on “Gigabit Ethernet Link Aggregation” during his tenure at Fujitsu Network Communications in Texas, USA.
He moved back home to India in 2002 and as the Chief Technology Officer of Precision Electronics Ltd (PEL), developed several products in the areas of Communications & Networking and Data Acquisition Systems for Military and Industrial customers. He is currently the President of PEL and is responsible for the Business Development and Operations of the company. Under his leadership and initiative, the company is now doing business in Israel, USA and France and has developed new vistas in the market segments of Healthcare, Hi-Tech equipment and Railway’s Signaling.
He was appointed as the Whole Time Director & President of the Company in the Annual General Meeting held on September 25, 2017 for a period of 5 years w.e.f. August 11, 2017.
Harbir Singh Banga
Mr. Harbir Singh Banga is the director of Victora Auto Pvt Ltd. he is an engineer with B. Tech in Manufacturing Engineering and holds MBA in finance from NMIMS Mumbai. He had his industrial training in the United States of America. He has rich experience of 6 years in the auto industry. He looks after the day-to-day affairs of his company with a focus on quality and adaptability to market dynamics. He is committed to offering excellent products to customers with a high standard of quality. With his technical background and experience, he always shoulders responsibility readily. He is deeply involved in the marketing activities of the company and has a very fruitful and trustworthy relationship with all their customers in India and overseas.
Deepto Roy
Mr. Deepto Roy is a graduate with a BA, LLB Hons from the West Bengal National University of Juridical Sciences and has been admitted to the Bar Council of Maharashtra and Goa since 2005. He is a corporate lawyer specializing in projects, infrastructure, Companies Law and Foreign Direct Investment. His acumen on his subject proved highly beneficial during his span of association with the Company.
Preeti Grover
Ms. Preeti Grover is a practising Company Secretary and has an experience of 23 years in various public private and listed companies. She is also an elected member of the Managing Committee – Noida Chapter of NIRC-ICSI. Her knowledge and experience as a professional will be beneficial to the Company.
Dinesh Kumar Batra
committee
Board of Directors | Audit Committee | Stakeholders Relationship Committee | Nomination and Remuneration Committee |
|---|---|---|---|
Ashok Kanodia | Preeti Grover (Chairperson) | Preeti Grover (Chairperson) | Deepto Roy (Chairperson) |
Nikhil Kanodia | Dinesh Kumar Batra | Harbir Singh Banga | Harbir Singh Banga |
Harbir Singh Banga | Deepto Roy | Dinesh Kumar Batra | Preeti Grover |
Deepto Roy | |||
Preeti Grover | |||
Dinesh Kumar Batra |
Criteria for making payment to Non-Executive Directors
At present, there are 2 (Two) Non-Executive Directors and 4 (Four) Non-Executive Independent Directors. However, no distinction is made for payment of remuneration to the non-Executive and independent directors as it is not required as per the provisions of the Companies Act, listing agreement and Articles of Association.
The Company pays the following sitting fees to them for attending each meeting of the Board and its Committees.
a) | Board Meeting | Rs. 25,000/- |
|---|---|---|
b) | Audit Committee Meeting | Rs. 25,000/- |
c) | Nomination and Remuneration Committee Meeting | Rs. 20,000/- |
d) | Stakeholder Committee Meeting. | Rs. 20,000/- |
e) | Management Committee | Rs. 20,000/- |
No other remuneration is paid to the non-Executive Directors. Besides the above, the non-Executive Directors are also reimbursed for actual conveyance and out-of-pocket expenses.
The above is subject to revision/s as per applicable law/s prevailing from time to time.
The following are the overall criteria kept in view for fixing the remuneration, being applied uniformly, for all the non-Executive Directors:-
- Experience and qualification.
- Responsibilities and duties.
- Time devoted.
- Value addition.
- Profitability of the company.
- Provisions of law with regard to making payments of remuneration to non-executive directors.
