NEW DELHI: Richest Indian Mukesh Ambani brought no wages out of his flagship company Reliance Industries Ltd at the financial year ended March 31 since he willingly gave up remuneration in light of this pandemic hitting on the company and the market.
In its most recent annual report, Reliance explained Ambani’s remuneration for fiscal year 2020-21 was”nil.” From the last financial year, he brought a Rs 15 crore salary in the firm – the exact same as in the past 11 decades.
Ambani has retained wages, perquisites, allowances and commission jointly at Rs 15 crore because 2008-09, forgoing over Rs 24 crore per annum.
“In light of this Covid-19 epidemic in India, that has exacted a enormous toll on the social, industrial and economic wellness of the country, Mukesh D.
Ambani, both the chairman and managing director, has decided to forego his wages,” the company had said in June this past year.
Remuneration of the cousins Nikhil and Hital Meswani stayed unchanged at Rs 24 crore however now it comprised Rs 17.28 crore commission.
Executive Directors P M S Prasad and Pawan Kumar Kapil watched their remuneration go up when they obtained performance-linked incentives for a couple of decades.
Even though Prasad brought Rs 11.99 crore at 2020-21up from Rs 11.15 crore in the last calendar year, Kapil acquired Rs 4.24 crore as against Rs 4.04 crore at 2019-20.
The fee of Prasad and Kapil comprised”performance-linked incentives for FY 2019-20 and FY 2020-21,” the yearly report said.
Ambani’s spouse Nita, a non-executive manager on the corporation’s board, made Rs 8 lakh sitting fee along with an additional Rs 1.65 crore commission to its year.
Besides Ambani, the RIL board includes Meswani brothers, Prasad along with Kapil as wholetime managers.
Apart from Nita Ambani, additional non-executive directors comprise Yogendra P Trivedi, Dipak C Jain, Raghunath A Mashelkar, Adil Zainulbhai, Raminder Singh Gujral, Shumeet Banerji, former SBI chairperson Arundhati Bhattacharya and preceding CVC K V Chowdary.
All independent directors obtained a Rs 1.65 crore commission to the year apart from a sitting fee up to Rs 36 lakh.