Covid trend continues: Zero salary for Ambani

RIL chairman and managing director Mukesh Ambani drew no salary for the fourth year in a row.

In June 2020, Ambani voluntarily decided to forego his entire remuneration including salary, allowances, perquisites, retiral benefits as well as any commissions for FY21, in light of the Covid-19 outbreak. He continued to forego his entire remuneration over the next three years, including FY24. Before that, he had capped his remuneration at Rs 15 crore - from 2008-09.

The remuneration of Ambani's cousins Nikhil and Hital Meswani rose to Rs 25.31 crore and Rs 25.42 crore, respectively, in FY24 from Rs 25 crore each in FY23. This included Rs 17.28 crore commission which has been constant for the last two fiscals. Executive director PMS Prasad saw his remuneration rise to Rs 17.93 crore.


Ambani's wife Nita, who was a non-executive director on the company's board till August 28, 2023, earned Rs 2 lakh as sitting fee and another Rs 97 lakh commission for the year.

His three children - Isha, Akash, and Anant - who were appointed to the board in October last year at "nil" salary, got Rs 4 lakh each as a sitting fee and Rs 97 lakh as commission.

Other non-executive directors include Adil Zainulbhai, Raminder Singh Gujral, Shumeet Banerji, former SBI chairperson Arundhati Bhattacharya, former CVC K V Chowdary, veteran banker K V Kamath and Saudi sovereign wealth fund nominee Yasir Othman H Al Rumayyan.

All independent directors got Rs 2.25 crore commission against Rs 2 crore in FY23, and sitting fee.