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.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
November 30,2025

girlnomore.jpg

Mangaluru, Nov 30: A 22-year-old college student succumbed to her injuries at a private hospital in Mangaluru today, days after she was hit by a goods tempo while crossing a road in Padubidri.

The deceased has been identified as Preksha, a resident of Nadsalu Billitota in Padubidri. The fatal incident occurred as Preksha, who was returning home after completing her examination, attempted to cross the service road towards Mangaluru. She was struck by a goods tempo approaching from the Udupi side, causing her to fall and sustain a severe head injury.

Prompt action from local residents ensured she received immediate first aid before being rushed to a hospital in Mangaluru for specialised treatment. Despite medical efforts, she passed away while undergoing care.

Preksha was a student at Karavali College, Vamanjoor on the outskirts of Mangaluru city. The tragedy is compounded by the fact that she belonged to a financially vulnerable family, having previously lost her father. She is survived by her mother and brother.

A case related to the accident has been registered at the Padubidri police station, and an investigation is underway to determine the exact circumstances that led to the collision. The incident highlights the growing concerns over road safety, particularly on busy service roads, and serves as a tragic reminder of the human cost of traffic accidents.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
December 4,2025

Mangaluru: Chaos erupted at Mangaluru International Airport (MIA) after IndiGo flight 6E 5150, bound for Mumbai, was repeatedly delayed and ultimately cancelled, leaving around 100 passengers stranded overnight. The incident highlights the ongoing country-wide operational disruptions affecting the airline, largely due to the implementation of new Flight Duty Time Limitations (FDTL) norms for crew.

The flight was initially scheduled for 9:25 PM on Tuesday but was first postponed to 11:40 PM, then midnight, before being cancelled around 3:00 AM. Passengers expressed frustration over last-minute communication and the lack of clarity, with elderly and ailing travellers particularly affected. “Though the airline arranged food, there was no proper communication, leaving us confused,” said one family member.

An IndiGo executive at MIA cited the FDTL rules, designed to prevent pilot fatigue by limiting crew working hours, as the cause of the cancellation. While alternative arrangements, including hotel stays, were offered, about 100 passengers chose to remain at the airport, creating tension. A replacement flight was arranged but also faced delays due to the same constraints, finally departing for Mumbai around 1:45 PM on Wednesday. Passengers either flew, requested refunds, or postponed their travel.

The Mangaluru delay is part of a broader crisis for IndiGo. The airline has been forced to make “calibrated schedule adjustments”—a euphemism for widespread cancellations and delays—after stricter FDTL norms came into effect on November 1.

While an IndiGo spokesperson acknowledged unavoidable flight disruptions due to technology issues, operational requirements, and the updated crew rostering rules, the DGCA has intervened, summoning senior airline officials to explain the chaos and outline corrective measures.

The ripple effect has been felt across the country, with major hubs like Bengaluru and Mumbai reporting numerous cancellations. The Mangaluru incident underscores the systemic operational strain currently confronting India’s largest carrier, leaving passengers nationwide grappling with uncertainty and delays.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
November 26,2025

Mangaluru, Nov 26: Assembly Speaker and local MLA U.T. Khader has initiated a high-level push to resolve one of Mangaluru’s longest-standing traffic headaches: the narrow, high-density stretch of National Highway-66 between Nanthoor and Talapady.

He announced on Tuesday that a formal proposal has been submitted to the Union Ministry of Road Transport and Highways (MoRTH) seeking approval to prepare a Detailed Project Report (DPR) for the widening of this crucial corridor.

The plan specifically aims to expand the existing 45-meter road width to a full 60 meters, coupled with the construction of dedicated service roads. Khader highlighted that land for a 60-meter highway was originally acquired during the initial four-laning project, but only 45 meters were developed, leading to a perpetual bottleneck.

"With vehicle density rising sharply, the expansion has become unavoidable," Khader stated, stressing that the upgrade is essential for ensuring smoother traffic flow and improving safety at the city's main entry and exit points.

The stretch between Nanthoor and Talapady is a vital link on the busy Kochi-Panvel coastal highway and connects to major city junctions. The move to utilize the previously acquired land for the full 60-meter width is seen as a necessary measure to catch up with the region's rapid vehicular growth and prevent further traffic gridlocks.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.