The richest person of India, Mukesh Ambani of the Reliance group, has capped his annual salary at 15 crores, from his Reliance Industries NSE -0.28%, and this is happening for the 10th consecutive year.
Since 2008, the business tycoon has kept his salary and allowances along with the commission and other benefits fixed at 15 crores, letting go off 24 cores. This is happening even as other directors of the company including Mukesh's cousins Hital and Nikhil Meswani's salaries were hiked.
This has been done as a managerial
compensation move, it is said. For 2017-18, he will be receiving 4.49 crores,
while this is higher slightly than 4.16 crores in 2016-17/ Nikhil and Hital's
salaries have increased to 19.99 crores. Mukesh's wife Nita Ambani who is the non
executive director gets a sitting fee of 6 lakhs.
COAI feels new regulations are vague to violate privacy of users Accordingly the Cellular Operators Association of India (COAI) has raised objections to the proposal by the union government to regulate internet platforms. Meanwhile as per report, the main opponents to the move are incumbent operators, Bharti Airtel and Vodafone, while interestingly the other major player and new entrant, Reliance Jio, have no problem with the government’s move.
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