Mukesh Ambani Caps Salary at .` 15 crore for 6th Year
Billionaire Mukesh Ambani has kept his salary as the head of Reliance Industries capped at .` 15 crore for the sixth year, while giving a 10-25% increase to other executive directors. “The chairman and managing director’s compensation has been set at .` 15 crore as against .` 38.86 crore as per the shareholders’ approval, reflecting his desire to continue to set a personal example for moderation in managerial compensation levels,” the RIL’s annual report for 2013-14 stated. India’s richest man Ambani left his salary unchanged, excluding a minor tweaking of components of his salary. There is a minor reduction of .` 7 lakh in his retiral benefits and an in- crease to the same extent in the commission payable to him. RIL’s executive director Nikhil Meswani will take home .` 12.12 crore for 2013-14 as against .` 11.05 crore in the previous year. Executive director Hital Meswani’s remuneration for FY14 was .` 12.11 crore as against .` 11.05 crore. The package of PMS Prasad, executive director, whose remuneration for 2013-14 was .` 6.03 crore, rises 10.2%. Another executive director, Pawan Kumar would get a remuneration of .` 2.49 crore, which is 25% higher than last year. In the last two years, several top executives of corporate India have rather taken a salary cut or have frozen their salaries as industry suffered due to economic slowdown.