The Chairman and Managing Director (CMD) of Reliance Industries Limited, Mukesh Ambani, drew no salary from his flagship firm Reliance Industries Ltd in the fiscal year ended March 31 as he voluntarily gave up remuneration in light of the pandemic hitting the business and the economy.
In its latest annual report, Reliance said Ambani’s remuneration for financial year 2020-21 was “nil.”
In the previous fiscal year, he drew a Rs 15 crore salary from the company – the same as in the previous 11 years.
Ambani has kept salary, perquisites, allowances and commission together at Rs 15 crore since 2008-09, forgoing over Rs 24 crore per annum.
“In light of the COVID-19 outbreak in India, which has exacted a huge toll on the societal, economic and industrial health of the nation, Mukesh D. Ambani, the Chairman and Managing Director, has voluntarily decided to forego his salary,” the company had said in June last year.
Meanwhile, Mukesh Ambani’s wife Nita Ambani, a non-executive director on the company’s board, earned Rs 8 lakh sitting fee and another Rs 1.65 crore commission for the year.