NEW DELHI: Richest Indian Mukesh Ambani drew no salary from his flagship firm Reliance Industries Ltd within the fiscal year ended March 31 as he voluntarily gave up remuneration in mild of the pandemic hitting the commercial and the financial system.
In its newest annual impart, Reliance acknowledged Ambani’s remuneration for monetary year 2020-21 used to be “nil.”
Within the earlier fiscal year, he drew a Rs 15 crore salary from the company – the identical as within the earlier 11 years.
Ambani has saved salary, perquisites, allowances and fee together at Rs 15 crore since 2008-09, forgoing over Rs 24 crore per annum.
“In mild of the Covid-19 outbreak in India, which has exacted a immense toll on the societal, financial and industrial wisely being of the nation, Mukesh D. Ambani, the chairman and managing director, has voluntarily made up our minds to forego his salary,” the company had acknowledged in June final year.
Remuneration of his cousins Nikhil and Hital Meswani remained unchanged at Rs 24 crore nevertheless this time it incorporated Rs 17.28 crore fee.
Govt Directors P M S Prasad and Pawan Kumar Kapil seen their remuneration trail up after they bought efficiency-linked incentives for two years.
Whereas Prasad drew Rs 11.99 crore in 2020-21, up from Rs 11.15 crore within the earlier year, Kapil bought Rs 4.24 crore as in opposition to Rs 4.04 crore in 2019-20.
The fee of Prasad and Kapil incorporated “efficiency-linked incentives for FY 2019-20 and FY 2020-21,” the annual impart acknowledged.
Ambani’s accomplice Nita, a non-govt director on the company’s board, earned Rs 8 lakh sitting fee and one other Rs 1.65 crore fee for the year.
Except for Ambani, the RIL board has Meswani brothers, Prasad and Kapil as wholetime directors.
Moreover Nita Ambani, other non-govt directors encompass Yogendra P Trivedi, Dipak C Jain, Raghunath A Mashelkar, Adil Zainulbhai, Raminder Singh Gujral, Shumeet Banerji, venerable SBI chairperson Arundhati Bhattacharya and venerable CVC K V Chowdary.
All fair directors bought a Rs 1.65 crore fee for the year besides a sitting fee of as much as Rs 36 lakh.