RIL chief Mukesh Ambani will get ‘zero’ wage for second yr in a row

RIL Chairman Mukesh Ambani

Photograph : BCCL

Reliance Industries chairman Mukesh Ambani, who acquired ‘zero’ wage within the final fiscal from his flagship agency for the second consecutive yr in FY 2021-22, voluntarily paid his compensation in mild of the pandemic affecting companies.

Within the final monetary yr additionally, he had given up his remuneration and didn’t take any wage from Reliance Industries within the wake of the Covid outbreak.

For 2 consecutive monetary years (2020-21 and 2021-22), Ambani has not acquired any allowances, perquisites, retirement advantages, commissions or inventory choices from Reliance for his position as chairman and managing director.

Prior to those two years, his wage was Rs 15 crore from 2008-09 to set a private instance of moderation within the degree of managerial compensation.

The wage of Rs 15 crore in 2019-20 was the identical as within the earlier 11 years.

Ambani has put collectively wage, perks, allowances and fee at Rs 15 crore since 2008-09, which is over Rs 24 crore yearly.

“In mild of the outbreak of COVID-19 in India, which has taken an enormous toll on the social, financial and industrial well being of the nation, Chairman and Managing Director Mukesh D Ambani has voluntarily determined to withdraw his wage,” the corporate mentioned in June. Mentioned in 2020.

The remuneration of his cousins ​​Nikhil and Hital Meswani remained unchanged at Rs 24 crore, however this time included a fee of Rs 17.28 crore.

Government administrators PMS Prasad and Pawan Kumar Kapil noticed a slight drop of their remuneration.

Whereas Prasad earned Rs 11.89 crore in 2021-22, down from Rs 11.99 crore in 2020-21, Kapil acquired Rs 4.22 crore, down from Rs 4.24 crore within the earlier yr.

The annual report mentioned the funds to Prasad and Kapil embrace “efficiency linked incentives paid in FY 2021-22 for FY 2020-21”.

Ambani’s spouse Nita, who’s a non-executive director on the corporate’s board, earned Rs 5 lakh as assembly price and a fee of Rs 2 crore for the yr. He had acquired Rs 8 lakh as sitting price and Rs 1.65 crore fee final yr.

Aside from Ambani, the Meswani brothers, Prasad and Kapil are whole-time administrators on the RIL board.

In addition to Nita Ambani, different non-executive administrators embrace Deepak C Jain, Raghunath A Mashelkar, Adil Jainulbhai, Raminder Singh Gujral, Shumit Banerjee, former SBI chairman Arundhati Bhattacharya and former CVC KV Choudhary.

Whereas all of the unbiased administrators acquired a fee of Rs 2 crore, Yasir O Al-Rumayyan, managing director and a board member of PIF – Sovereign Wealth Fund of Kingdom of Saudi Arabia acquired Rs 1.40 crore. He was appointed to the board with impact from July 19, 2021.

(with company enter)

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