Suzlon’s founder-chairman, Tulsi Tanti, took a steep cut of Rs1.46 crore in compensation, as the company incurred losses last financial year.
Tanti saw his yearly pay packet shrink by 73 per cent, or Rs1.46 crore, last year and took home just Rs53.76 lakh, according to Suzlon’s annual report. He was entitled to receive a compensation of Rs 2 crore.
Now what I find amusing is this part of the annual report “Since the company has incurred losses for the financial year 2011-12, the excess remuneration…Has been recovered from the executive directors”. I am sure the cut in remuneration is symbolic, as Suzlon’s losses are likely to be in hundreds of crores, so the report might as well say it is symbolic!