No salary for Mukesh Ambani's children, only fee for attending board meets, says RIL resolution
announced at RIL's annual general meeting held last month. Reliance has now sent out a postal ballot to shareholders seeking a nod for their appointment as board of directors of the company.
"They shall be paid remuneration by way of fee for attending meetings of the Board or Committees thereof or for any other meetings as may be decided by the Board, reimbursement of expenses for participating in the Board and other meetings and profit-related commission," the notice said. Exciting news! Mint is now on WhatsApp Channels :rocket: Subscribe today by clicking the link and stay updated with the latest financial insights!" Click here! Ambani, the chairman and managing director of RIL, drew nil salary from the company since the 2020-21 fiscal year, whereas, other executive directors including his cousins Nikhil and Hital are paid a salary, perquisites, allowances and commission.
His three children - twins Akash and Isha (both 31) and Anant (28 years) - will get only a sitting fee and a commission on the profit earned by the firm, according to the resolution. The terms of the appointment of the three are the same as the ones on which Ambani's wife Nita was appointed to the company board in 2014.
She earned a sitting fee of ₹6 lakh and a commission of ₹2 crore in the 2022-23 fiscal year (April 2022 to March 2023), according to the company's latest annual report. Ambani, 66, had at the company's annual shareholders meeting last month announced that his three children Akash, Isha and Anant would be inducted into Reliance's board of directors (BoD).
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