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Mukesh Ambani caps his salary at Rs 15 crore

Mukesh Ambani caps his salary at Rs 15 crore
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Reliance Industries' billionaire chief Mukesh Ambani has kept his annual salary capped at Rs 15 crore for the fifth year in a row, while forgoing...

Reliance Industries' billionaire chief Mukesh Ambani has kept his annual salary capped at Rs 15 crore for the fifth year in a row, while forgoing nearly Rs 24 crore from the remuneration approved for him by shareholders.A Ambani has kept his salary at the country's biggest private sector entity, RIL, unchanged at this level since the fiscal 2008-09.

"The Chairman and Managing Director's compensation has been set at Rs 15 crore as against Rs 38.93 crore that he is eligible as per the shareholders' approval, reflecting his desire to continue to set a personal example for moderation in managerial compensation levels," the company said in its annual report for the year ended March 31, 2013.

Ambani was eligible for a pay package of Rs 38.93 crore for the last fiscal year, which was higher by Rs 23.93 crore from the salary actually paid to him. In the preceding year 2011-12 also, Ambani had forgone Rs 23.82 crore from the remuneration approved for him by the shareholders.

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