Reliance chief Mukesh Ambani draws nil salary in FY21

NEW DELHI: Richest Indian Mukesh Ambani drew no salary from his flagship agency Reliance Industries Ltd in the fiscal 12 months ended March 31 as he voluntarily gave up remuneration in gentle of the pandemic hitting the enterprise and the economic system. In its newest annual report, Reliance mentioned Ambani’s remuneration for monetary 12 months 2020-21 was “nil.”

In the earlier fiscal 12 months, he drew a Rs 15 crore salary from the corporate – the identical as in the earlier 11 years.

Ambani has saved salary, perquisites, allowances and fee collectively at Rs 15 crore since 2008-09, forgoing over Rs 24 crore every year.

“In light of the Covid-19 outbreak in India, which has exacted a huge toll on the societal, economic and industrial health of the nation, Mukesh D. Ambani, the Chairman and Managing Director, has voluntarily decided to forego his salary,” the corporate had mentioned in June final 12 months.

Remuneration of his cousins Nikhil and Hital Meswani remained unchanged at Rs 24 crore however this time it included Rs 17.28 crore fee.

Executive Directors P M S Prasad and Pawan Kumar Kapil noticed their remuneration go up after they obtained performance-linked incentives for 2 years.

While Prasad drew Rs 11.99 crore in 2020-21, up from Rs 11.15 crore in the earlier 12 months, Kapil obtained Rs 4.24 crore as towards Rs 4.04 crore in 2019-20.

The fee of Prasad and Kapil included “performance-linked incentives for FY 2019-20 and FY 2020-21,” the annual report mentioned.

Ambani’s spouse Nita, a non-executive director on the corporate’s board, earned Rs 8 lakh sitting payment and one other Rs 1.65 crore fee for the 12 months.

Apart from Ambani, the

board has Meswani brothers, Prasad and Kapil as wholetime administrators.

Besides Nita Ambani, different non-executive administrators embrace Yogendra P Trivedi, Dipak C Jain, Raghunath A Mashelkar, Adil Zainulbhai, Raminder Singh Gujral, Shumeet Banerji, former

chairperson Arundhati Bhattacharya and former CVC Okay V Chowdary.

All unbiased administrators obtained a Rs 1.65 crore fee for the 12 months apart from a sitting payment of as much as Rs 36 lakh.

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