Mukesh Ambani keeps salary capped at Rs 15-cr for 11th year in a row

Agencies
July 20, 2019

New Delhi, Jul 20: Richest Indian Mukesh Ambani has kept his annual salary from his flagship firm Reliance Industries capped at Rs 15 crore for the eleventh year on the trot.

Ambani has kept salary, perquisites, allowances and commission together at Rs 15 crore since 2008-09, forgoing over 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 a handsome increase in the fiscal year ended March 31, 2019.

"Compensation of Shri 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 2018-19 included Rs 4.45 crore as salary and allowances, which is marginally lower than Rs 4.49 crore he got in the previous 2017-18 fiscal. Commission has been unchanged at Rs 9.53 crore while perquisites have risen to Rs 31 lakh from Rs 27 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. The salary cap continued even as all other executive directors saw their remunerations go up.

Ambani's cousins Nikhil R Meswani and Hital R Meswani saw their compensation rise to Rs 20.57 crore each. They earned Rs 19.99 crore each in 2017-18 and Rs 16.58 crore in 2016-17. In 2015-16, Nikhil had got Rs 14.42 crore while Hital took home Rs 14.41 crore. In 2014-15, they had got Rs 12.03 crore each.

Also, one of his key executives, Executive Director P M S Prasad saw his remuneration go up to Rs 10.01 crore from Rs 8.99 crore in the previous year. He too has seen his remuneration rise steadily -- from Rs 6.03 crore in 2014-15, to Rs 7.23 crore in the next fiscal and Rs 7.87 crore in 2016-17.

Refinery chief Pawan Kumar Kapil saw his compensation rise to Rs 4.17 crore from Rs 3.47 crore in 2017-18. In the previous fiscal, his remuneration had fallen to Rs 2.54 crore, from Rs 2.94 crore in 2015-16. He had earned Rs 2.41 crore in 2014-15. The two however did not get any commission in 2018-19.

"Performance criteria for two Executive Directors, entitled for Performance Linked Incentive (PLI), are determined by the Human Resources, Nomination and Remuneration Committee," RIL said in the annual report.

RIL's non-executive directors, including Nita Ambani, also got Rs 1.65 crore each as commission, besides sitting fees. The commission was Rs 1.5 crore in 2017-18 and Rs 1.3 crore in the previous year.

Former State Bank of India (SBI) chairman Arundhati Bhattacharya got only Rs 75 lakh as commission as she was appointed to the board of RIL only with effect from October 17, 2018. Ambani's wife Nita Ambani, a non-executive director on the company's board, earned Rs 7 lakh as sitting fee, up from Rs 6 lakh in the previous year.

Apart from Ambani, the RIL board has Meswani brothers, Prasad and Kapil as wholetime directors. Besides Nita Ambani, other non-executive directors include Mansingh L Bhakta, Yogendra P Trivedi, Dipak C Jain, Raghunath A Mashelkar, Adil Zainulbhai, Raminder Singh Gujral, Shumeet Banerji and Aruundhati Bhattacharya.

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News Network
April 23,2024

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The genocidal war on Gaza launched by Israel on October 7 last year, with the support of the US and its other Western allies, completes 200 days on Tuesday, leaving behind a trail of death, destruction, displacement and starvation.

These 200 days – between October 7, 2023, and April 23, 2024 – have been marked by unprecedented crimes against the people of Gaza, especially children and women, the bombardment of hospitals and schools, abuse and torture of women and abduction of young boys.

Human rights groups and international bodies have described the harrowing events unfolding in the besieged Palestinian territory as a textbook case of genocide and ethnic cleansing.

Israeli regime’s key international allies – Washington, London, Paris and Berlin – have also been at the receiving end of massive public backlash for their continued military support for the regime.

The death toll in the apartheid regime’s genocidal campaign has already topped 34,150 since October 7, more than 75 percent of them being women and children, according to the Gaza government office.

The 2.3 million people in the besieged territory continue to deal with a catastrophic humanitarian crisis amid relentless bombings and crippling siege imposed by the Israeli regime with the backing of the US.

Following are the statistics related to 200 days of war waged by the Israeli occupation on Gaza. 

200 – the number of days of the latest Israeli genocidal war on Gaza

41,183 – the total number of those killed and missing in Gaza since Oct. 7

34,183 – the total number of fatalities in Gaza since Oct. 7 (confirmed dead)

7,000 – the number of people still under the rubble of destroyed buildings in Gaza (presumed dead)

77,183 – the number of wounded persons in Gaza since Oct. 7

3,025 – the number of massacres committed by the regime since Oct. 7

14,778 – the number of children killed since Oct. 7

30 – the number of children who died due to starvation and famine

9,752 – the number of women killed since Oct. 7

485 – the number of doctors and paramedics killed since Oct. 7

67 – the number of civil defense personnel killed since Oct. 7

140 – the number of Palestinian journalists killed since Oct. 7

72 – the percentage of children and women killed since Oct. 7

17,000 – the number of children who have lost one or both parents since Oct. 7

11,000 – the number of injured people who need to travel for treatment

10,000 – the number of cancer patients who face the risk of death

1,090,000 – the number of people with infectious diseases due to displacement

8,000 – the number of cases of viral hepatitis due to displacement

60,000 – the number of pregnant women at risk due to lack of healthcare

350,000 – the number of chronically ill patients suffering due to lack of medicine

5,000 – the number of people arbitrarily detained in Gaza since Oct. 7

310 – the number of health practitioners who have been arrested

20 – the number of known journalists arbitrarily detained since Oct. 7

2 million – the number of displaced people in the Gaza Strip

181 – the number of government buildings destroyed since Oct. 7

103 – the number of schools and universities completely destroyed since Oct. 7

317 – the number of schools and universities partially destroyed by the occupation

239 – the number of mosques completely destroyed since Oct. 7

317 – the number of mosques partially destroyed since Oct. 7

3 – the number of churches targeted and destroyed since Oct. 7

86,000 – the number of housing units completely destroyed since Oct. 7

294,000 – the number of housing units partially destroyed since Oct. 7

75,000 – tons of explosives dropped by the occupation on Gaza since Oct. 7

32 – the number of hospitals taken out of service by the occupation since Oct. 7

53 – the number of health centers that have become non-functional since Oct. 7

160 – the number of health institutions partially or fully destroyed since Oct. 7

126 – the number of ambulances destroyed by the occupation army since Oct. 7

206 – the number of archaeological and heritage sites destroyed since Oct. 7

$30 – billions in preliminary direct losses as a result of the genocidal war on Gaza

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News Network
April 26,2024

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Bengaluru: Voting was underway on Friday in the first phase of Lok Sabha polls in 14 constituencies in Karnataka. Polling began at 7 am and will end at 6 pm.

A total of 247 candidates -- 226 men and 21 women -- are in the fray for the first phase covering most of the southern and coastal districts, where more than 2.88 crore voters are eligible to exercise their franchise in 30,602 polling stations.

The Congress and BJP are locking horns on the electoral battleground again in less than a year. This election is witnessing a straight fight between the ruling Congress and the BJP-JD(S) combine unlike the Assembly elections in May last year which witnessed a triangular contest among the three parties.

The state has a total of 28 Lok Sabha constituencies. The second phase of polling in the remaining 14 seats is on May 7.

In the first phase, while the Congress is contesting in all 14 seats, BJP has fielded nominees in 11 and its alliance partner JD(S), which joined the National Democratic Alliance in (NDA) in September last year, in three -- Hassan, Mandya and Kolar.

Besides the three, the segments where elections are being held on Friday are: Udupi-Chikmagalur, Dakshina Kannada, Chitradurga, Tumkur, Mysore, Chamarajanagar, Bangalore Rural, Bangalore North, Bangalore Central, Bangalore South and Chikkballapur.

According to Election Commission, 1.4 lakh polling officials are on duty for the first phase. Besides them, 5,000 micro-observers, 50,000 civil police personnel, and 65 companies of Central Paramilitary Force and State Armed Police force of other States have been deployed for security. All the 2,829 polling stations of Bangalore Rural parliamentary constituency are being webcast.

"This is as per the request of our returning officers and observers; so we have given more than double the Central paramilitary force for Bangalore Rural constituency. Seven companies of Central paramilitary forces have been inducted at the constituency since April 22," Karnataka Chief Electoral Officer Manoj Kumar Meena has said.

In fact, out of the total 30,602 polling stations in the first phase, 19,701 are webcast, and 1,370 covered via CCTVs, he had added. Chikkaballapur has a maximum number of 29 candidates, followed by 24 in Bangalore Central, and Dakshina Kannada has the least number at nine.

JD(S) leader H D Kumaraswamy from Mandya, his brother-in-law and noted cardiologist C N Manjunath from Bangalore Rural on a BJP ticket against Deputy CM D K Shivakumar's brother and MP D K Suresh of Congress, and erstwhile Mysuru royal family scion Yaduveer Krishnadatta Chamaraja Wadiyar from Mysore, from the BJP, are among the prominent candidates in the fray in the first phase.

Also in the contest are BJP MP Tejasvi Surya from Bangalore South pitted against Minister Ramalinga Reddy's daughter Sowmya Reddy of Congress, and Union Minister Shobha Karandlaje on BJP ticket from Bangalore North against former Indian Institute of Management Bangalore professor M V Rajeev Gowda of Congress.

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News Network
April 27,2024

The spokesman for the Yemeni Armed Forces has said it has carried out new operations against American and British targets in retaliation for their aggression on the country.

Brigadier General Yahya Saree said on Friday that Yemen’s naval forces struck a British oil tanker in the Red Sea with missiles.

Saree also said the military also shot down an American MQ-9 drone in Sa’ada province.

He added that the new operations were also a show of solidarity with Palestinians in the Gaza Strip, amid the Israeli genocide there. 

“The Yemeni Armed Forces salute all the people of Yemen for their faithful response to the call of the fighter leader Sayyed Abdulmalik Badr El-Din Al-Houthi, may Allah protect him, in their unprecedented large-scale interaction in support of our oppressed brothers in the Gaza Strip, affirming support for the Armed Forces in their military operations against the ‘Israeli’ enemy and against the American-British aggression supporting it in the Red and Arabian Seas and the Indian Ocean,” Saree said.

He stressed that the Yemeni armed forces will continue operations in the Red and Arabian Seas as well as the Indian Ocean until the Western-backed Israeli genocide comes to a halt.

Since the start of the brutal campaign in Gaza, the regime has killed more than 34,300 Palestinians and injured over 77,000 others. It has cut off fuel, electricity, food and water to the more than two million Palestinians living there.

The Yemeni Armed Forces have been targeting Israeli vessels or those “associated” with the occupying regime in the Red Sea and the Arabian Sea since October 7, 2023.

The regime ignited its bloody war machine in the besieged Palestinian territory on that October day in response to Operation Al-Aqsa Storm conducted by the resistance movement Hamas.

The maritime attacks have forced some of the world’s biggest shipping and oil companies to suspend transit through one of the world’s most important maritime trade routes.

Tankers are instead adding thousands of miles to international shipping routes by sailing around the continent of Africa rather than going through the Suez Canal.

The pro-Palestine maritime campaign has also prompted airstrikes by the US and its allies on Yemen – in violation of the Yemeni sovereignty and international law.

In consequence, Yemen’s armed forces have declared US and British vessels as legitimate targets.

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