New Delhi: Asia's richest man and Reliance Industries chairman Mukesh Ambani drew nil salary for the fourth year in a row in the fiscal year 2023-24. At the same time, his children earned a sitting fee and a commission for being on the board of India's most valuable company. For the unversed, the RIL chairman had capped his annual remuneration at Rs 15 crore from the financial year 2008-09 (April 2008 to March 2009) to 2019-20 (FY20).
In FY21, he opted to forego his salary, due to the Covid-19 pandemic, until the company and all its businesses fully returned to their earnings potential. Not only this, in 2023-24, he got 'nil' as allowances, and perquisites as well as retiral benefits, according to the company's latest annual report. Mukesh Ambani, who was appointed as chairman of the company after the death of his father and group patriarch Dhiburhai Ambani in July 2002, was re-appointed as the head of Reliance for another five-year term till April 2029 - a period during which he opted to draw nil salary.
Also Read: SEBI Grants In-Principle Approval to Mukesh Ambani's Jio Financial & BlackRock For Mutual Fund Setup "He shall, however, be entitled to reimbursement of expenses incurred for travelling, boarding and lodging including for spouse and attendant(s) during business trips and provision of car(s) for use on company's business and communication expenses at residence shall be reimbursed at actuals and not considered as perquisites," the special resolution seeking sharehol.
