Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.


Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence


Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
LIVE TV DownloadNews18 App
1-min read

Nandan Nilekani Will Not Draw Any Salary at Infosys

Infosys said Nilekani’s office as director will be subject to retirement by rotation and the remuneration proposed to be paid to him is nil.


Updated:September 2, 2017, 7:58 AM IST
Nandan Nilekani Will Not Draw Any Salary at Infosys
File photo of Nandan Nilekani. (Getty Images)

Bengaluru: Infosys has said that Nandan Nilekani will not receive any remuneration for his current post. Nilekani is the non-executive and non-independent chairman of the I-T major.

Infosys said Nilekani’s office as director will be subject to retirement by rotation and the remuneration proposed to be paid to him is nil. This was revealed in a BSE filing.

Nilekani was first appointed to the Board in 1981 and ceased to be its member on July 9, 2009, Infosys said. His last drawn remuneration for the fiscal 2010 in which he ceased to be a director was Rs 34 lakh, it said, adding that Nilekani holds 2,13,83,480 equity shares in the company.

U B Pravin Rao, the interim CEO of the company and who holds 5,55,520 shares, will get the same salary he was drawing as chief operating officer.

Rao was elevated as the interim CEO and managing director after Vishal Sikka had quit from CEO's post on August 18. Infosys said Rao will continue to hold the position of chief operating officer for which he will continue to receive the remuneration as approved by the shareholders vide postal ballot concluded on March 31, 2017.

Rao will not receive any additional compensation for his role as the interim-chief executive officer and managing director. His last drawn remuneration for fiscal 2017 was Rs 7.8 crore (excluding value of stock options granted of Rs 4 crore), Infosys said.

The shareholders had approved an annual remuneration of Rs 12.5 crore (comprising of annual fixed salary of Rs 4.63 crore, annual variable compensation of Rs 3.87 crore at 100 per cent payout and performance based stock options of Rs 4 crore which would vest over a period of 4 years, it added.

Infosys issued postal ballot notice seeking approval from its shareholders on share buyback and appointment of Nilekani as the non-executive chairman.

Other resolutions that require shareholders’ approval include appointment of D Sundaram as an independent director on the board and Rao as the managing director and interim chief executive officer.

E-voting and voting through postal ballot on these resolutions will begin from September 8 morning and continue till October 7 afternoon.

(With PTI inputs)

| Edited by: Ananya Chakraborty
Read full article
Next Story
Next Story

Also Watch

Most Active
Company Price Change %Gain
Yes Bank 86.25 -12.35
Mindtree 691.00 -7.95
HDFC 2,349.95 2.77
Axis Bank 743.05 -1.27
SBI 366.30 -1.64
Company Price Change %Gain
Yes Bank 86.25 -12.39
HDFC Bank 2,421.55 0.99
SpiceJet 143.95 1.41
Mindtree 692.00 -7.97
Torrent Pharma 1,545.10 -2.49
Top Gainers
Company Price Change %Gain
Wipro 273.50 5.35
HDFC 2,350.00 2.77
Britannia 2,834.00 1.29
HDFC Bank 2,421.00 0.98
Zee Entertain 360.35 2.01
Company Price Change %Gain
HDFC 2,349.05 2.74
Bajaj Finance 3,498.30 1.06
HDFC Bank 2,421.55 0.99
Kotak Mahindra 1,538.30 0.35
Infosys 796.85 0.32
Top Losers
Company Price Change %Gain
Yes Bank 86.25 -12.35
Tata Motors 161.95 -3.54
M&M 597.60 -3.29
ONGC 144.00 -3.94
Coal India 222.35 -3.33
Company Price Change %Gain
Yes Bank 86.25 -12.39
ONGC 144.40 -3.64
Tata Motors 162.00 -3.49
M&M 597.55 -3.29
Coal India 223.05 -3.04

Live TV

Countdown To Elections Results
To Assembly Elections 2018 Results