Mukesh Ambani to leave Rs 23.75 cr from salary

Billionaire industrialist Mukesh Ambani has decided to forego Rs 23.75 crore for the last fiscal from his annual compensation as chief of Reliance Industries while keeping his salary capped at Rs 15 crore for third year in a row.

At the same time, the company's total remuneration for top management personnel, as also commission paid to non-executive directors, declined during fiscal 2010-11.

In its annual report for the fiscal, the company said that "The Chairman and Managing Director's compensation has been set at Rs 15 crore as against Rs 38.75 crore that he is elgible as per the shareholders' approval..."

RIL said the decision was taken to reflect "his desire to continue to set a personal example for moderation in managerial compensation levels."

Ambani's salary has remained at Rs 15 crore since the fiscal 2008-09.