Photographs: Arko Datta/Reuters
About 640 directors of listed companies took home with Rs 1 crore as total remuneration for the year-ended March 2009, compared to 570 in the previous year, says an Economic Times report.
Meanwhile, the government has advised India Inc to refrain from doling out "vulgar" salaries to CEOs.
"I think when we are working on this (austerity), we can hardly say that we (will) shut our eyes on what salary the CEOs are going to take," Corporate Affairs Minister Salman Khurshid told PTI, when asked how the government intends to control salaries of CEOs which at times appear vulgar.
Pointing out that salaries of CEOs should be decided by shareholders, he said, "I don't think anyone in India today, in politics or outside politics, has reached the level of liberalism where vulgarity is also a fundamental right."
The issue regarding remuneration of company CEOs will be debated by the parliamentary standing committee which is scrutinising the provisions of the new Companies Bill tabled in the Lok Sabha in August, he said.
In reposne to this, India Inc has warned the government that any regulation of CEOs' pay may lead to flight of talent and capital from the country and said salaries are best decided by the industry.
1. Mukesh Ambani
Mukesh Ambani, chairman and managing director of Reliance Industries is the highest paid CEO.
In FY08, his compensation stood at Rs 44.02 crore (Rs 440.2 million). The salary figure of FY09 is yet to be published.
Take a look at the other top salary earners in India in FY09. . .
India's highest paid CEOs
2. Kalanidhi Maran & Kavery Kalanidhi
Sun TV chairman and managing director Kalanidhi Maran and joint managing director Kavery Kalanidhi, whose annual remuneration stood at Rs 37.08 crore (Rs 370.8 million) take the second position among highest salary earners.
India's highest paid CEOs
Anil Ambani, chairman, Anil Dhirubhai Ambani Group is third in the list of highest salary earners. His salary per annum is Rs 32.02 crore (Rs 320.2 million).
India's highest paid CEOs
PRR Rajha, chairman and managing director, Madras Cements Ltd gets the fourth highest salary in India. His total remuneration is Rs 28.71 crore (Rs 287.1 million).
India's highest paid CEOs
Photographs: Naveen Jindal website.
Naveen Jindal, executive vice chairman and managing director Jindal Steel & Power Limited gets the fifth highest salary in India. His total salary is Rs 28.27 crore (Rs 282.7 million).
India's highest paid CEOs
Malvinder Singh, former CEO of Ranbaxy Laboratories, is the sixth highest salary earner in India. His remuneration is Rs 23.70 crore (Rs 237 million).
India's highest paid CEOs
Photographs: Reuters
Sunil Mittal, chairman and managing director, Bharti Airtel, ranks seventh among highest salary earners. His salary is Rs 22.89 crore (Rs 228.9 million).
8. Vivek Jain
Vivek Jain, managing director, Gujarat Flurochem, comes next in the list of highest salary earners. His salary stands at Rs 20.73 crore (Rs 207.3 million).
India's highest paid CEOs
Photographs: Kamal Kishore/Reuters
Brijmohan Munjal, chairman, Hero Honda, is the 9th highest salary earner: His total salary is Rs 19.79 crore (Rs 197.9 million).
10. Pawan Munjal
Pawan Munjal, managing director, Hero Honda is the tenth top salary earner in India with a remuneration of Rs 19.68 crore (Rs 196.8 million).
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