Mukesh Ambani forgoes Rs 23.75 crore from salary

Billionaire industrialist Mukesh Ambani has decided to forego Rs.23.75 crore for the last fiscal from his annual compensation as chief of Reliance Industries while keeping his salary capped at Rs.15 crore for the third year in a row. At the same time, the company’s total remuneration for top management personnel, as also commission paid to non-executive directors, declined during 2010-11. In its annual report for the fiscal, the company said that

“The Chairman and Managing Director’s compensation has been set at Rs.15 crore as against Rs.38.75 crore that he is eligible as per the shareholders’ approval…”