Posted On Monday, September 24, 2012 at 09:02:05 AM
New Delhi: Industrialist and Cong-ress MP Naveen Jindal has topped the executive pay charts for listed companies in the country with a package of Rs 73.42 crore for the fiscal 2011-12.
The chairman and managing director of Jindal Steel and Power Ltd beat Sun TV Network’s Kalanithi and Kavery Maran, who had a package of Rs 57.01 crore each.
Hero MotoCorp’s Pawan Munjal (Rs 34.47 crore) and Brijmohan Lall Munjal (Rs 34.44 crore) are also among the five top-paid executives. The pay packages include salary, perquisites, profit-linked incentives, or commissions, and other benefits.
Jindal, whose pay packet has grown by more than Rs 6 crore, has topped the list for the second year now, after he dethroned Kalanithi Maran in 2010-11. Lately, he has been facing heat over claims that a group firm sold costly power despite getting coal blocks for free.
The collective salary of the 10 highest-paid executives increased by Rs 43 crore to Rs 387 crore in the financial year that ended in March. The figure is based annual reports of the concerned companies.
Madras Cements’ P R R Rajha, with a salary packet of Rs 29.34 crore, is ranked sixth in the list, followed by Maruti Suzuki’s Shinzo Nakanishi (Rs 28.14 crore) and BGR Energy’s BG Raghupaty (Rs 25.98 crore). Tata Motors’ former chief Carl-Peter Forster (Rs 23.97 crore) and Divis Labs’ Murali K Divi (Rs 23.15 crore) also figure in the list.
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RIL chief Mukesh Ambani, once India’s highest-paid executive, is not in the top 10 as he has capped his pay. He’s ranked 15th, with a remuneration of Rs 15 cr.
Bharti Airtel’s Sunil Mittal (Rs 21.3 cr), Hindalco’s D Bhattacharya (Rs 19.5 cr), JSW Steel’s Sajjan Jindal (Rs 18.18 cr) and Amara Raja Batteries’ Jayadev Galla (Rs 17.23 cr) are ranked above Mukesh.
ADAG chairman Anil Ambani has taken a huge cut in his total remuneration from his four main group companies in 2011-12.