Mukesh Ambani keeps salary capped at Rs 15 crore for 10th year

TIL Desk/Business/Mumbai/ Richest Indian Mukesh Ambani has kept his annual salary from company Reliance Industries capped at Rs 15 crore for the tenth year on the trot. Ambani has kept salary, perquisites and allowances and commission together at Rs 15 crore since 2008-09, forgoing almost Rs 24 crore per annum. This is at a time when remunerations of all whole-time directors of the company, including cousins Nikhil and Hital Meswani, saw handsome raise in the fiscal year ended on March 31, 2018.

“Compensation of Mukesh D Ambani, chairman and managing director, has been set at Rs 15 crore, reflecting his desire to continue to set a personal example for moderation in managerial compensation levels,” RIL said in its latest annual report. His remuneration for 2017-18 included Rs 4.49 crore as salary and allowances, which is marginally higher than Rs 4.16 crore he got in previous 2016-17 fiscal.

Commission has however been unchanged at Rs 9.53 crore while perquisites have declined to Rs 27 lakh from Rs 60 lakh. Retirement benefits were Rs 71 lakh. Ambani voluntarily capped his compensation at Rs 15 crore in October 2009 amid a debate over right-sizing of CEO salaries.