The new generation of Ambanis and Adanis joins the crorepati club
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With a number of corporate houses promoting sons and daughters of their promoters to leadership positions, many of these companies have begun giving hefty remuneration packages to them for their "increased responsibilities" and "active involvement" in exploring new business opportunities, as per a news report by an agency.
Still, the annual pay of these next-generation leaders remains relatively low, as against the overall average payout of over Rs 20 crore for CEOs of India's top-listed companies forming part of
As Chairman and Managing Director of the company, Gautam Adani got total remuneration of Rs 2.8 crore in 2015-16, while Whole Time Director Malay Mahadevia got Rs 10.7 crore.
In case of
Reliance Capital will seek shareholders' approval on the upcoming AGM on September 27 for various proposals, including
In the shareholders' notice, the company said his salary would be Rs 10 lakh per month.
In addition to the salary, perquisites and allowances, he will also be entitled to receive commission based on next profit of the company. Anmol,24, has been working in various financial services businesses within Reliance Capital since 2014 and has a degree from
Explaining the proposal, the company said in its AGM notice, "The board reviewed the remuneration payable to him after taking into consideration his active involvement in all spheres of management for exploring business opportunities both in India and abroad and felt that, JMD can be compensated by way of enhanced commission.
"The board was of the opinion that the existing remuneration was considerably inadequate, when compared with the industry norms and similarly placed senior management personnel of the company."
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