Bharti spikes Mittal’s pay hike to Rs 70 cr

The proposed package would have been more than double his last fiscal remuneration.

Bharti Airtel said that it has sought shareholders’ approval for an up to Rs 70 crore annual pay package to chief Sunil Mittal in the next five yeas,but any hike would not be given in the current fiscal.

Soon after seeking shareholder approval for remuneration package of up to Rs 70 crore and other benefits to Managing Director Sunil Mittal,the telecom major said that its Human Resource Committee has decided for giving no increment to Mittal in 2011-12.

“The Human Resource Committee of the Board of Directors of Bharti Airtel makes recommendation for certain senior level positions which is then approved by the board every year.

Story continues below this ad

“The Human Resource Committee on July 29,2011,decided for no increment in the remuneration for Sunil Bharti Mittal for the FY 2011-12,” the company said in a statement.

Mittal’s total remuneration in 2010-11 stood at about Rs 27.5 crore.

The company also added that “the proposal to revise the remuneration of its Chairman and Managing Director Sunil Bharti Mittal up to a maximum of Rs 70 crore as proposed in the company¿s 2011 AGM notice,is an enabling provision for the next five years,and should be seen in that light.”

Tags:
bharti airtel

The police said the trio from Chandigarh — Rohan (21), Sumit (22), and Mohit (19) — were dhol players by profession and had procured the weapons due to an old rivalry with local residents.

Suspecting affair, Odisha lecturer assaults wife and her friend, parades them on street

India6 hr ago

A lecturer of Commerce and his associate were arrested for assaulting his wife, garlanding her with slippers and parading her on the road with her male friend. The woman, who has been living separately from her husband, was assaulted and humiliated in public. The incident was recorded and shared on social media. Police have seized evidence and are investigating the matter.

View all shorts

Live Blog