No salary, yet Anil Ambani India`s top paid
He may have foregone salary or commissions for 2008-09 as part of austerity measures, yet a pay package of over Rs 52 crore has made industrialist Anil Ambani the country`s top-paid executive for the year.
New Delhi: He may have foregone salary or commissions for 2008-09 as part of austerity measures, yet a pay package of over Rs 52 crore -- as sitting fees and previous-year payments -- has made industrialist Anil Ambani the country`s top-paid executive for the year.
Had he not declared to give up his remuneration for the year, his pay package could have crossed Rs 100 crore or about Rs 27 lakh a day.
As Chairman of five of his group`s listed companies -- Reliance Communications, Reliance Capital, Reliance Power, Reliance Infrastructure and Reliance Natural Resources Ltd -- he was paid a total of Rs 52.078 crore during the last fiscal, representing an annual increase of nearly Rs 10 crore.
The total amount paid to Anil Ambani in 2008-09 exceeds the same for any other executive by the companies which have furnished the remuneration details for their top executives during the latest fiscal.
This is despite the industrialist foregoing any salary or commissions from all these companies, and the remuneration during the year only comprises sitting fees for attending the board as a director and the payments towards commissions for the previous fiscal 2007-08.
During 2007-08, Anil`s elder brother Mukesh Ambani, the Chairman and MD of Reliance Industries, was the top-paid executive in the country with total remuneration of Rs 44.02 crore. However, Mukesh Ambani`s remuneration for 2008-09 is not known as RIL is yet to come out with its balance sheet for the year.