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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.
Sharvan Kumar Kataria
Mr. Sharvan Kumar Kataria is a practising Chartered Accountant since 1983 and has expertise in Corporate Laws, Income Tax, Direct Taxes, Indirect Taxes, Accounts and Audit Laws, Tax Planning, Tax management and Tax Jurisprudence and has many publications to his credit in the above subjects.
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.
Rahul Goenka
Mr. Rahul Goenka has been a Director on the Board of the Company since September 25, 2004. He is a Commerce graduate and an MBA from Clark University, Worcester, USA having over 2 years of work experience with Consultants Inc., Boston USA one of the leading Technology Solutions Provider in the world. Presently he is a Director with Apparel & Textiles manufacturing and export company that employs over a 1000 people across 3 manufacturing sites and exports their products to some of the best known brands inUK. Mr. Rahul Goenka has in depth knowledge and experience of manufacturing and international trade.
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.
Suresh Vyas
Mr. Suresh Vyas is Chartered Accountant by profession and Managing Partner of the Snr. company, he has got about 30 years of experience in the Industry and Profession of handling a number of projects and companies of national and international level. He has mastered the activities relating to the corporate world such as corporate law matters, acquisitions and mergers, liaison with Government agencies etc. While in practice, he has assisted a number of international companies to set up their offices in India and was also associated with Indian companies acquiring projects overseas. Mr. Suresh Vyas was also an Independent Director of the Company.
Lt Gen Rajesh Pant
Lt General (Dr) Rajesh Pant is an internationally recognised Cybersecurity mentor, who has till recently tenanted the prestigious appointment of National Cyber Security Coordinator in the National Security Council Secretariat of India under PMO. In this capacity he was responsible for coordinating all activities across multiple sectors to ensure a secure and resilient cyberspace within the nation. Under his stewardship the nation has risen from 47 th to 10 th position in the Global Cybersecurity Index of the United Nations.
He holds a PhD degree for his research in the field of Information Security metrics. He is also MTech from IIT Kharagpur, MPhil from Madras University and Master of Management Studies from Osmania University, Hyderabad.
He was the head of the Army’s Cyber Training establishment for three years and served in the Army Signals Corps for 41 years wherein he was awarded three times by the President of India for distinguished service of the highest order. As a Fellow of IETE he was awarded the Baliga Memorial Award in 2013. Recently IIT Kharagpur has conferred on him the Distinguished Alumni Award for 2023, where he joins the likes of Sundar Pichai.
He has represented the nation at World Economic Forums Annual Meeting on Cybersecurity, Global Cybersecurity Forum at Riyadh, Bilateral Dialogues with USA and Russia, QUAD Dialogues, Prague 5G Security Conclave, Israel and Singapore Cyber Weeks and led Resilience vertical of Global Counter Ransomware initiative.
With a never-say-die attitude he is presently the Chairman of Cyber Security Association of India, Chairman of India Future Foundation, non Executive Chairman of Precision Electronics Ltd and Global Advisor of CyberPeace Organisation.
General Pant brings to the table an interesting mix at the intersection of Cyberspace Governance and Security at Global, National, Enterprise and Citizen levels.
committee
Board of Directors | Audit Committee | Stakeholders Relationship Committee | Nomination and Remuneration Committee |
|---|---|---|---|
Ashok Kanodia | Sharvan Kumar Kataria (Chairperson) | Preeti Grover | Suresh Vyas |
Nikhil Kanodia | Suresh Vyas | Sharvan Kataria (Chairperson) | Deepto Roy
|
Sharvan Kumar Kataria | Deepto Roy | Rahul Goenka | Sharvan Kumar Kataria (Chairperson)
|
Harbir Singh Banga | |||
Deepto Roy | |||
Rahul Goenka | |||
Suresh Vyas | |||
Preeti Grover | |||
Lt Gen Rajesh Pant |
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. 15,000/- |
|---|---|---|
b) | Audit Committee Meeting | Rs. 15,000/-
|
c) | Nomination and Remuneration Committee Meeting
| Rs. 10,000/-
|
d) | Stakeholder Committee Meeting. | Rs. 4,000/-
|
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.
