32
u 55 u u BUSINESS INDIA u December 27, 2010 – January 9, 2011 The Highest Paid Executives H OW DO TOP SALARIES FARE in an era of conspicuous corruption? They are getting fatter, thank you. Ministers get cuts. CEOs get hikes; Naveen Jindal, who has emerged at the top spot this year with a salary of `69.75 crore, got `48.63 crore last year. That’s a hike of 43 per cent. Jindal was No. 5 in 2009. He replaces Anil Am- bani, who has moved out of the ethereal regions. Brother Mukesh Ambani has also slipped a trifle from 19 to 21 because of a reduction in commis- sion paid. Kalanithi Maran and Kavery Maran of Sun TV are still No. 2 and 3, albeit with the same `37 crore pay packet. The Honda quartet hogs four places in the top 10. That may not be for long; the Japanese are now selling out to the Munjals and their two directors may not be on the list for much longer. It should help the company; the amount the two were paid would have bought some 10,000 Hero Honda Hunks. Looking at people at the very top may give a slightly misleading picture of austerity in adversi- ty; salaries last year were decided in the shadow of the economic crisis. But the overall sample shows there has been considerable growth. Last year, there were 1,000 executives with a re- muneration of above `1 crore. This year, the num- ber has risen to 1,149. That’s a 15 per cent jump. The average salary in 2009 was `1.32 crore. This year, it has gone up to `1.44 crore. Who’s looking up? In 2010, Infosys had 144 employees with a salary higher than `50 lakh, up from 84 employ- ees in 2009. Who’s looking down? Kingfisher Air- lines’ number of employees in this category has dropped from 338 to 304. In absolute numbers, of course, the folks at Kingfish- er are high fliers compared to Infosys. The examiners of sal- ary structures – the HR con- sultancy and outsourcing firms – are singularly up- beat about India. These are the organisations that look at the salary increases of the rank and file of the highest paid and those who don’t make the grade. At the top level, salaries don’t matter much; it’s the commission that makes all the difference. For instance, Ku- mar Mangalam Birla – No. 10 on our list this year – has a commission of `28.45 crore. His salary is just `1.4 lakh. For the record, there were 552 per- sons on the list eligible for commission this year out of our total list of 3,237. What do the salary surveys say? The salary in- crease in India was projected at 10 per cent plus in 2010, well above China and amongst the high- est in the world. It is likely to beat the projec- tions as the economy has moved to top gear and many companies have gone in for mid-year pay reviews. Attrition is back as a big problem; the re- wards tap has been turned on again; and hiring is up. India has emerged at the top of a Manpower survey of the best country for new jobs in 2011. There is other evidence of this acceleration. New metrics are being launched. In May this year, online employment solutions company Name u Company Remuneration Naveen Jindal u Jindal Steel 6,975.71 Kalanithi Maran u Sun TV 3,708.00 Kavery Maran u Sun TV 3,708.00 Pawan Munjal u Hero Honda 3,088.12 Brijmohan Lall Munjal u Hero Honda 3,063.84 Toshiaki Nakagawa u Hero Honda 3,003.36 Sumihisa Fukuda u Hero Honda 2,991.50 Onkar S. Kanwar u Apollo Tyres 2,969.50 Pankaj Patel u Cadila 2,863.00 K.M. Birla u Aditya Birla Group 2,846.72 TOP 10 REMUNERATION T he easiest way to reach the top is to have a papa who is already there. In India, family businesses account for around 95 per cent of all companies and it is still very natu- ral for the son to step into his father’s shoes. But professionals need a different approach. If you look at education, there are clear winners. According to a study by EMA Part- ners, a global executive search firm, engi- neering is by far the best route to the top. EMA surveyed the top 200 companies in In- dia spread across the private sector-public sector-multinational-unlisted spectrum. “Amongst the engineers, it’s the IITs,” says K. Sudarshan, EMA managing partner In- dia. IITs clock in with 16 per cent of the CEOs. Another 15 per cent are non-IIT engineers. But the IIMs have the lead other- wise. Some 33 per cent of CEOs are IIM alumni. Eight per cent of the IITians also have IIM degrees. Another relevant combination is the B.Com-CA. They account for about 12 per cent of the sample. There are no other big-time disci- plines. The sciences are 3 per cent, economics and BA 3 per cent apiece, and law 2 per cent. And there are the occasional zoology honours and post gradu- ates in philosophy. Twenty-five per cent of the sample has studied abroad, mainly from the US. The firm favourites are Harvard and Wharton. What makes engineering tick? “It’s re- lated to the mindset that top brains go in for engineering,” says Manish Sabharwal of TeamLease. “A standalone engineer- ing degree from a good institution holds significantly more value as compared to an Arts or Science degree or an MBA degree from a Tier II or III institute,” adds Su- darshan. However, both agree that this will change. What are the functional areas within the company that are the best breeding grounds for leaders? To some extent, it depends on the company. Today, finance is in. Some 40 per cent of the top CEOs in the UK and 25 per cent in the US have some financial background. At IIM-C this year, 91 per cent of the batch are engineers. Going by past trends, at least one-third will take up finance jobs. That’s where the money is. And tomorrow, the power. u Route to the top (` lakh)

Route to the Top-Highest-Paid Executives

Embed Size (px)

Citation preview

Page 1: Route to the Top-Highest-Paid Executives

u 55 uu

B u s i n e s s i n d i a u december 27, 2010–January 9, 2011 The Highest Paid Executives

How do top salaries fare in an era of conspicuous corruption? they are getting fatter, thank you. Ministers get cuts. ceos get hikes; naveen Jindal,

who has emerged at the top spot this year with a salary of `69.75 crore, got `48.63 crore last year. that’s a hike of 43 per cent.

Jindal was no. 5 in 2009. He replaces anil am-bani, who has moved out of the ethereal regions. Brother Mukesh ambani has also slipped a trifle from 19 to 21 because of a reduction in commis-sion paid. Kalanithi Maran and Kavery Maran of sun tv are still no. 2 and 3, albeit with the same `37 crore pay packet. the Honda quartet hogs four places in the top 10. that may not be for long; the Japanese are now selling out to the Munjals and their two directors may not be on the list for much longer. it should help the company; the amount the two were paid would have bought some 10,000 Hero Honda Hunks.

looking at people at the very top may give a slightly misleading picture of austerity in adversi-ty; salaries last year were decided in the shadow of the economic crisis. But the overall sample shows there has been considerable growth.

last year, there were 1,000 executives with a re-muneration of above `1 crore. this year, the num-ber has risen to 1,149. that’s a 15 per cent jump. the average salary in 2009 was `1.32 crore. this year, it has gone up to `1.44 crore. who’s looking up? in 2010, infosys had 144 employees with a salary higher than `50 lakh, up from 84 employ-ees in 2009. who’s looking down? Kingfisher air-lines’ number of employees in this category has dropped from 338 to 304. in absolute numbers, of

course, the folks at Kingfish-er are high fliers compared to infosys.

the examiners of sal-ary structures – the hr con-sultancy and outsourcing firms – are singularly up-beat about india. these are the organisations that look at the salary increases of the rank and file of the highest paid and those who don’t make the grade. at the top level, salaries don’t matter much; it’s the commission that makes all the difference. for instance, Ku-mar Mangalam Birla – no. 10 on our list this year – has a commission of `28.45 crore. His salary is just `1.4 lakh. for the record, there were 552 per-sons on the list eligible for commission this year out of our total list of 3,237.

what do the salary surveys say? the salary in-crease in india was projected at 10 per cent plus in 2010, well above China and amongst the high-est in the world. it is likely to beat the projec-tions as the economy has moved to top gear and many companies have gone in for mid-year pay reviews. attrition is back as a big problem; the re-wards tap has been turned on again; and hiring is up. india has emerged at the top of a Manpower survey of the best country for new jobs in 2011.

there is other evidence of this acceleration. new metrics are being launched. in May this year, online employment solutions company

Name u Company Remuneration

Naveen Jindal u Jindal Steel 6,975.71

Kalanithi Maran u Sun TV 3,708.00

Kavery Maran u Sun TV 3,708.00

Pawan Munjal u Hero Honda 3,088.12

Brijmohan Lall Munjal u Hero Honda 3,063.84

Toshiaki Nakagawa u Hero Honda 3,003.36

Sumihisa Fukuda u Hero Honda 2,991.50

Onkar S. Kanwar u Apollo Tyres 2,969.50

Pankaj Patel u Cadila 2,863.00

K.M. Birla u Aditya Birla Group 2,846.72

TOP 10 REMUNERATION

The easiest way to reach the top is to have a papa who is already there. In India,

family businesses account for around 95 per cent of all companies and it is still very natu-ral for the son to step into his father’s shoes. But professionals need a different approach.

If you look at education, there are clear winners. According to a study by ema Part-ners, a global executive search firm, engi-neering is by far the best route to the top. ema surveyed the top 200 companies in In-dia spread across the private sector-public sector-multinational-unlisted spectrum.

“Amongst the engineers, it’s the iits,” says K. Sudarshan, ema managing partner In-dia. iits clock in with 16 per cent of the ceos. Another 15 per cent are non-iit engineers.

But the iims have the lead other-wise. Some 33 per cent of ceos are iim alumni. Eight per cent of the iitians also have iim degrees.

Another relevant combination is the B.Com-ca. They account for about 12 per cent of the sample. There are no other big-time disci-plines. The sciences are 3 per cent, economics and ba 3 per cent apiece, and law 2 per cent. And there are the occasional zoology honours and post gradu-ates in philosophy. Twenty-five per cent of the sample has studied abroad, mainly from the US. The firm favourites are Harvard and Wharton.

What makes engineering tick? “It’s re-lated to the mindset that top brains go in for engineering,” says Manish Sabharwal

of TeamLease. “A standalone engineer-

ing degree from a good institution holds significantly more value as compared to an

Arts or Science degree or an mba degree from a Tier II or III institute,” adds Su-darshan. However, both agree that this will change.

What are the functional areas within the company that are the best breeding grounds for leaders? To some extent, it

depends on the company. Today, finance is in. Some 40 per cent of the top ceos in the UK and 25 per cent in the US have some financial background. At iim-c this year, 91 per cent of the batch are engineers. Going by past trends, at least one-third will take up finance jobs. That’s where the money is. And tomorrow, the power. u

Route to the top

(` lakh)

Page 2: Route to the Top-Highest-Paid Executives

u 56 u

u

B u s i n e s s i n d i a u december 27, 2010–January 9, 2011The Highest Paid Executives

Monster flagged off its india employment index. “this is a measure of labour de-mand,” says sanjay Modi, regional managing director of monster.com. the index shows that job opportu-nities in november 2010 exceeded november 2009 by 26 per cent. last year, naukri.com had launched a similar index Jobspeak. it too is very bullish. Mean-while, the Ma foi randstad

employment trends sur-vey says 739,064 organised sector jobs were cre-ated between January and september 2010 and 394,700 more jobs will be added in this quarter. “we expect aggressive hiring and an increase in salary levels,” says Ma foi randstad’s managing director K. pandia rajan.

there are two views on salary levels. one school of thought holds that indian salaries are way below global standards. according to The Wall Street Jour-nal, the highest paid executive in the us in 2009 was Gregory B. Maffei of liberty Media, who took home $87.1 million (including stock options). this translates to `393 crore compared to Jindal’s `69 crore. there is such a gap at junior levels too, but it is narrowing. “salaries at the top level in india have gone much further ahead than what growth would warrant. it’s just the shortage of

talent and manpower. the biggest indicator of this is that at these salaries, you have expats willing to move to india,” says Manish sabharwal, chairman of staffing services firm teamlease services.

are HiGHer salaries a cure for corruption – a key question in an age when even icons

stand tainted? the answer lies not in this list of the highest paid, but with those who should have been on it – the top bureaucrats, babus and politi-cians. these folks are the backbone of corruption in this country. the solution lies with them.

How much do bureaucrats actually earn? ac-cording to Business India’s estimates, a Cabinet secretary gets more than `8 lakh a month. His basic and dearness allowance (da) is `1.35 lakh. He gets a car, driver and unlimited petrol; medical allowance for himself and his dependents; unlim-ited communications facilities; and leave travel al-lowance (lta). But the real perks of the job come by way of official accommodation. He is entitled to type Viii accommodation, which means a two-story bungalow spread over 1-2 acres in delhi’s plush lutyen’s zone. the monthly market rent is above `4 lakh, though the bureaucrat pays a pit-tance. the bungalow also has 10-12 single-room tenements to accommodate drivers, garden-ers, cooks and maids, all of whom are paid by the government, of course. on top of this there is provi-dent fund (pf), gratuity and an indexed pension, which

India is expecting a huge demographic dividend from its young population. But

equally huge is the challenge it faces when it comes to educating and training its work-force. As Som Mittal, president, nasscom, explains, “Much of this has to do with our education system which has not kept pace with the times by way of curriculum, re-search agenda, quality of faculty and so on.” Industry associations like nasscom, cii and others and also individual companies them-selves have been taking various measures to bridge the talent mismatch.

Mittal points out that the it industry alone spends $1 billion on skilling and re-skilling professionals, both at entry levels and higher up. The industry, he says, has adopted a mass model that uses both classrooms and technology. Mittal believes that technology should be used not just in the it industry but

across all sectors. “If you have to scale then it can’t be through physical training. It has to be through technology,” he says.

But what about the capability mismatch at the middle and senior levels in India Inc. Has talent and leadership management at In-dian companies kept pace with the country’s high growth and the needs of a fast-paced organisation?

“No,” says Sudhakar Balakrishnan, ceo at hr solutions firm Adecco India. “Most or-ganisations tend to move people internally without giving them adequate training or grooming to take on the larger responsi-bility.” He adds that when companies hire laterally, the mismatch comes by way of dif-ference in culture and value systems. “When the wrong guy is put in a job, the company ends up losing people, losing business and losing growth.”

“One clear mis-match at the top lev-el is lack of global experience be-cause most Indian execu-tives have not run trans-global operations and that is why we are finding that a lot of expats are being brought in,” adds Manish Sabharwal of TeamLease. Indian companies, he adds, also have a very siloed approach and there is not enough job rotation.

According to him there is no company in India that has managed its leadership pipe-line or even thought about it like ge or p&g have done. “In the next 15-20 years, the big-gest constraint for Indian companies will not be around demand or finance or regulatory policies. It will be their people supply chain,” he says. u

Name u Company Salary

Naveen Jindal u Jindal Steel 6,975.71

Kalanithi Maran u Sun TV 3,708.00

Kavery Maran u Sun TV 3,708.00

Pankaj Patel u Cadila 2,863.00

Sunil Bharti Mittal u Bharti Airtel 2,348.84

Sajjan Jindal u JSW Group 1,927.31

D. Bhattacharya u Hindalco 1,714.34

Rick Bott u Cairn ( I) 1,647.44

Rahul Dhir u Cairn ( I) 1,356.27

Jeya Kumar u Patni 1,219.15

TOP 10 SALARIES

Matchmaker, matchmaker

(` lakh)

Page 3: Route to the Top-Highest-Paid Executives

u 57 u u

B u s i n e s s i n d i a u december 27, 2010–January 9, 2011 The Highest Paid Executives

is 50 per cent of the last basic pay drawn. “if you take the cost to government, salary is only around 25 per cent,” says sabharwal.

if we similarly add up the numbers for the other babus, a secretary would clock in at `7.5 lakh and an additional secretary at ̀ 6 lakh. psu chiefs, often regarded as the poor cousins of their private sector counterparts, live in the lap of luxury because of the perks. Many of these gentlemen would make it to the one-crore-plus range in our tables. But they still have very little cash in hand.

Business India has always contended that if you pay our bureaucrats well, they will not be tempted to stray from the straight and narrow. not everybody agrees. sabharwal says that much of the remuneration disparities with the private sector have gone after the sixth pay Commission. (this may not be the case with Class i and Class ii employees.)

“trying to rein in corruption by raising com-pensation and enlarging the pool of beneficiaries is like trying to control a raging bull by holding its tail. experience shows that whatever the lev-els of pay, the inclination towards corruption does not get diluted since underpayment is more a perception than a fact,” says n. Balasubrama-nian, visiting professor at iim Bangalore and iim ahmedabad.

salary and Honesty are not connect-ed,” adds sudhakar Balakrishnan, ceo of hr

solutions firm adecco india. not true, argues

M.V. rajeev Gowda, profes-sor of economics & social sciences at iimb. “paying ex-ecutives substantial salaries can certainly help them re-sist the temptation of cor-ruption,” he feels. “this is particularly important in the public sector where top executives doing a fantastic job are often paid salaries tied to some government scale.” on another note, he adds, “if we paid our politi-cal leaders really well, like singapore does (where mps’ and ministers’ sala-ries are tied to top executive salaries), some sec-tion of politicians will be able to maintain their integrity. open, transparent political funding and lobbying would also help clean up corrup-tion overall.”

transparency is needed elsewhere too. this year, as many as 294 firms refused to part with the annexure under section 217 2(a) of the Compa-nies act, which mandates that the company pub-lish details of any employee earning more than `24 lakh a year. (Business India had to source the data indirectly.) for Corporate india – now going to town about political and bureaucratic corrup-tion – transparency should begin at home.

u partHasaratHi swaMi and Meenu sHeKar

(With inputs from raKesH JosHi) Profiles: anoop BaBani Data: raVi aGarwal

It’s not always about money. For some, it’s the desire to

strike a work-life balance and see the stars and smell the flowers. For others, it’s the need to fulfil personal interests. Then there are those for whom a greater passion comes into play. The passion to make a difference in the lives of others. And with this, the corporate career with its big bucks loses its sheen.

Unlike in the US where it is much more common for execu-tives to switch out of corporate careers once they gain financial security, in India it has tradition-ally been very difficult to make ‘enough money’ to take this step. But now the tide seems to

be turning and at a faster pace.To name just a few in recent

times: Jayant Sinha worked with biggies like McKinsey and hedge fund Courage Capital Manage-ment before moving to philan-thropic investment firm Omidi-yar Network. Ajay Kela moved from heading it firm Symphony Services to head the Wadhwani Foundation. Anurag Behar, for-mer ceo of Wipro Infrastructure Engineering now co-heads the Azim Premji Foundation. Then of course there is Nandan Nilekani himself and his uid team which has a host of people from the corporate world.

Sinha, whose compensation earlier was two to three times his

current one, says that Omidyar Network allows him to combine his passion for public service with his investment skills and experience. “We have all been wonderfully blessed in terms of family, opportunities, educa-tion and financial resources. If people like us do not give back to the country, who will?” Adds Kela, who also took a ‘significant cut’ in salary, “The problems of the social sector are far more challenging and demand much

greater scale than building most billion dollar organisations. It is this opportunity to bring in-novative business models that leverage market forces or chan-nel government resources to ad-dress the problem at scale that attracted me to this sector.” Be-har is “thrilled with the switch”. “This is always what I wanted to do,” he says.

It may be too early to ask these new converts about any second thoughts but ask the husband-wife duo Swati Ramanathan, an architect, and ex-citibanker Ramesh who started their own ngo Janaagraha in Bangalore a decade ago and pat comes their reply, “Not for a moment. It’s been a tough but very satisfying journey. No regrets.”

Beyond fat paycheques

Kela and Sinha

Name u Company Commission

Pawan Munjal u Hero Honda 2,950.00

Brijmohan Lall Munjal u Hero Honda 2,950.00

Toshiaki Nakagawa u Hero Honda 2,950.00

Sumihisa Fukuda u Hero Honda 2,950.00

K.M. Birla u Aditya Birla Group 2,845.32

P.R.R. Rajha u Madras Cements 2,760.01

Onkar S. Kanwar u Apollo Tyres 1,850.00

Vivek Jain u Gujarat Flurochem 1,761.37

Markand Bhatt u Torrent Power 1,760.00

E.Sudhir Reddy u IVRCL Infra 1,668.40

TOP 10 COMMISSIONS

(` lakh)

u

Page 4: Route to the Top-Highest-Paid Executives

u 79 uu

u Hital Meswani | 40EDReliance Industries`1,114 lakh

Hital Meswani is extended family.

Son of Dhirubhai Am-bani’s nephew Rasiklal Meswani and brother of Nikhil Meswani, Hital graduated from University of Pennsylvania in chemical engineering and holds

a B.S. in economics from Wharton Busi-ness School. Induct-ed into ril following their father’s death in the mid-1980s and Mukesh Am-bani-loyalists, the Meswanis were at one time seen as the ‘second-most impor-tant pair of brothers

in India Inc’, after Mukesh and Anil Ambani.

u Nitin Paranjpe | 47MD and CEOHindustan Unilever`407.63 lakh

Nitin Paranjpe cut his teeth at

the fmcg giant. He joined hul as a man-agement trainee in 1987 and worked his way across levels and functions over the next two decades, be-fore taking over the top job in 2008. hul’s youngest managing director and ceo, Paranjpe is highly popular among his colleagues. He is an avid marathoner and squash player.

u Anil B. Jain | 45MDJain Irrigation Systems`505.79 lakh

Anil B. Jain, who has headed the

company since 1993, strongly advocates drip irrigation in paddy, pulses and oilseeds cultivation. The method, he asserts, maximises

yields with lower water and electric-ity inputs. Recently, Jain gave lessons in micro-irrigation to visiting US President Barack Obama at an exposition held at St Xavier’s College, Mumbai, showcas-ing innovations and technologies that are transforming Indian agriculture.

u Punit Goenka | 36MD and CEOZee Entertainment Enterprises`333.58 lakh

The eldest son of Essel group

chairman Subhash Chandra, Punit Goen-ka took charge of Zee Entertainment Enterprises

Limited (zeel) in 2008, re-placing Pradeep Guha.

A movie buff, Goenka scripted the reversal of fortunes at the group’s broadcasting arm within a short span. Open to ideas

and suggestions from colleagues, Goenka

is a ‘people’s person’ at zeel. He loves skiing.

u Sameer Gehlaut | 36ChairmanIndiabulls Financial Services`801.91 lakh

India’s youngest self-made billionaire

and an iit Delhi graduate, Sameer Gehlaut founded Indiabulls in 2000 with two of his

batchmates. The company went public in 2004, moved

into real estate with some big-ticket pro-perties in Mumbai and subsequently ventured into pow-er. In 2008, Gehlaut ranked 962 on Forbes’ list of the world’s billion-aires. He loves playing squash.

Every day I get up and look through the Forbes list of the richest people in America. If I’m not there, I go to work. — Robert Orben, American magician and professional comedy writer

The Highest Paid Executives

Page 5: Route to the Top-Highest-Paid Executives

u 80 u

u

B U S I N E S S I N D I A u December 27, 2010–January 9, 2011

Turning the spotlight on…u Pia Singh | 39Wholetime DirectorDLF`322.54 lakh

A Wharton school gradu-ate and daughter of real

estate mogul K.P. Singh, Pia Singh drives dlf’s retail business, pushing the con-glomerate’s expansion into shopping centres and up-market luxury malls, which house the who’s who of global brands. A cinema buff and armed with a course in

film-making from New York University, Singh also heads dlf’s multiplex business, the Digital Talkies Cinema.

u Kiran Mazumdar-Shaw | 57CMDBiocon`140.40 lakh

Armed with experience in malting and brewing and a princely sum

of `10,000, Kiran Mazumdar-Shaw founded Biocon in 1978 as a garage operation, and has transformed it into an integrated bio-pharmaceutical

company. Recipient of the Padma Shri (1989) and Padma B h u s h a n (2005), she has fea-tured on the power

lists of Time, Forbes and Financial Times. She loves collecting paintings and art, and has authored Ale & Arty: The Story of Beer.

u Rajiv Lall | 53MD and CEOIDFC`167.57 lakh

Hailing from a family of bureaucrats, Rajiv Lall

has studied at Oxford and Columbia (doctorate). Con-versant in French, he can understand Spanish and Mandarin as well. A former partner at Warburg Pincus, based in New York, and an executive director with Morgan Stanley, Lall has

also worked at the World Bank. According to Forbes India, “He is always proud to tell you that he doesn’t play golf.”

u Ramesh Ramanathan | 55MDMahindra Holidays & Resorts India`228.20 lakh

Ramesh Ramanathan is virtually hooked on holi-

days – devising stress-busting and exciting vacations for his customers and creating newer destinations like Mun-nar, which the company put

on the country’s tourist circuit by building its first resort way back in 1997. An iim Calcutta alumnus, Ramanathan is among the pioneers of the vacation-ownership industry and has anchored the compa-ny to be a leading player in the leisure hospitality business. He is passionate about Carnatic music and paintings.

u N. Chandrasekaran | 47MD and CEOTCS`297.82 lakh

A passionate long-distance runner, Chandrasekaran

has finished marathons in Mum-bai, New York, Prague, Stockholm and Vienna. His race at tcs began in 1987,

right after completing his mca from rec, Trichy, and ended in November 2009, when he moved into the top seat after the retirement

of his mentor, S. Ramado-rai. At his age, Chandraseka-

ran has years to go before he completes his marathon at tcs, in the tradition of his predecessors.

Page 6: Route to the Top-Highest-Paid Executives

u 81 uu

B U S I N E S S I N D I A u December 27, 2010–January 9, 2011

Business India takes a look at some of the individuals who made it to the list

u Nandini Piramal | 29EDPiramal Healthcare`136.24 lakh

Daughter of Ajay and Swati Piramal, Nan-

dini Piramal is a gradu-ate from Hertford College, Oxford University and an mba from Stanford. Prior to joining the family busi-ness, she had a brief stint with McKinsey & Co. Thereafter, she managed the company’s operations

in the UK and Canada. She is closely involved with a rural drinking water proj-ect, Sarvajal, in Rajasthan with her husband Peter D’Young.

u Koushik Chatterjee | 42Group CFOTata Steel`137.25 lakh

B Muthuraman, former managing director, Tata Steel, called him the

“hottest young executive in India”. A chartered ac-countant, Kou-shik Chatterjee is busy raising big money to help his com-pany become a dominant glob-al player. That means less time to teach, which he did at xlri while at Jam-shedpur. “It kin-

dled my energy levels and was a less explicit part of my empowerment at Tata Steel,” Chatterjee once said.

u B.K. Goenka | 50Chairman and MDWelspun Group`257.30 lakh

Hailing from a family of foodgrain traders in

Hisar, B.K. Goenka always wanted to do “something different”. So he spun the terry-towels-to-pipes-and-steel success story. Pas-sionate about vintage cars, Goenka believes that entre-preneurs need to be dream-ers. His own dream: to be-

come a global home textiles and large-pipes player. Wife Dipali, a Kathak exponent, manages the group’s retail arm, Welspun Retail, and likens Kathak to meditation.

u N.B. Godrej | 58MDGodrej Industries`241.34 lakh

Nadir Godrej’s educational

credentials are impeccable – a B.S. in chemi-cal engineering from mit, an M.S. from Stan-ford and an mba from Harvard! His active interest in research has re-sulted in several patents for the group in agricultural chemicals and surfactants. He speaks six languages, including Rus-sian and his favourite, French, and loves to combine business with poetry. Sample this: “The economy fell in a pit/And lin-gered there for quite a bit/Since March it started on a stroll/And now we know it’s on a roll.”

u Kushagra Bajaj | 33Joint MDBajaj Hindusthan`284.45 lakh

Though US-educated, Kusha-gra Bajaj hails from one of the

country’s best-known and oldest busi-ness families, it was a bitter family feud that brought him under the arclights. Mar-ried to Kumar Mangalam Birla’s sister, Vasavdatta, this ‘sultan of sugar’ took charge of Ba-jaj Hindusthan when he was just 25 and transformed it into India’s largest sugar and ethanol-making company. These days, Bajaj, who captained his school rugby team, dabbles in spirituality.

Page 7: Route to the Top-Highest-Paid Executives

u 82 u

u

The salary of the chief executive of a large corporation is not a market award for achievement. It is frequently in the nature of a warm personal gesture by the individual to himself. — John Kenneth Galbraith

u Shantanu Prakash | 45Chairman and MDEducomp Solutions`311 lakh

Shantanu Prakash always wanted to

be an entrepreneur. So, when the mid-dle-class lad from Delhi graduated from iim Ahmeda-bad, he spurned many lucrative job

offers and dabbled in a quasi-entre-preneurial educa-tion venture for a while. In 1994, he quit to set up the country’s first school e-learning company. Today, Educomp’s content reaches almost 25,000 schools and more than 12 million students and teachers.

u Ravi Uppal | 58CEO and MDL&T Power`185.13 lakh

The only surprise in the recent in-

duction of Ravi Up-pal on to l&t’s board was the time lag – it came 20 months af-ter he first joined the conglomerate. Widely speculated to succeed present chairman A.M. Naik, Uppal studied at two of India’s premier in-stitutions – iit Delhi and iim Ahmedabad. His global experience at abb and Volvo and his age are certainly on his side.

u Dipak Gupta | 48EDKotak Mahindra Bank`281.30 lakh

An electron-ics engineer

and alumnus of iim Ahmedabad, Dipak Gupta joined the Kotak group in 1992 from af Ferguson’s Kolkata office. Per-ceived to be second-in-command, Gupta has largely guided the group’s foray into the banking arena. He has managed all the activities within the group at one time or another, and currently heads commercial banking and retail asset busi-nesses, besides co-or-dinating the group-wide hr function.

u Madhu Kannan | 37MD and CEOBSE`161.59 lakh

Madhu Kannan is the youngest

ever head of Asia’s old-est exchange. Prior to joining the bourse, he was managing director (corporate

strategy) with Bank of America Merrill Lynch in New York, and has worked with NYSE Eu-ronext in various po-sitions. That should certainly assist him

in galvanising the BSE, which has lost its sheen

and is trailing behind its tech-savvy competitors.

u Carl-Peter Forster | 55MD and Group CEOTata Motors`418.8 lakh

Automobiles is not something

that Carl-Peter For-ster has studied at universities; he mas-tered it on the assem-bly lines. Holding degrees in econo-

mics from Bonn University and in aviation and space technology from Munich University of Technology, For-ster spent almost a quarter century at global biggies, bmw and General Motors, before he took up a driving seat at Tata Motors on 1 April 2010.

The Highest Paid Executives

Page 8: Route to the Top-Highest-Paid Executives

B u s i n e s s i n d i a u december 27, 2010–January 9, 2011The Highest Paid Executives

Rank u Name | Designation Company Salary Comm Rank u Name | Designation Company Salary Comm

In ` lakh

u 58 u

u

1 u Naveen Jindal | VC & MD Jindal Steel & Power 6975.71

2 u Kalanithi Maran | CMD Sun TV 3708.00

3 u Kavery Maran | Jt MD Sun TV 3708.00

4 u Pawan Munjal | MD & CEO Hero Honda 3088.12 2950.00

5 u Brijmohan Lall Munjal | Chairman Hero Honda 3063.84 2950.00

6 u Toshiaki Nakagawa | Jt MD Hero Honda 3003.36 2950.00

7 u Sumihisa Fukuda | Director Hero Honda 2991.50 2950.00

8 u Onkar S. Kanwar | CMD Apollo Tyres 2969.50 1850.00

9 u Pankaj Patel | CMD Cadila Healthcare 2863.00

10 u Kumar Mangalam Birla + | Chairman Aditya Birla Group 2846.72 2845.32

11 u P.R. Ramasubrahmaneya Rajha | CMD Madras Cements 2791.05 2760.01

12 u Sunil Bharti Mittal | CMD Bharti Airtel 2348.84

13 u Markand Bhatt | WTD Torrent Power 2150.39 1760.00

14 u Sajjan Jindal + | CMD JSW Group 1927.31

15 u Vivek Jain | MD Gujarat Fluorochem 1818.40 1761.37

16 u E. Sudhir Reddy | CMD IVRCL Infra 1818.20 1668.40

17 u D. Bhattacharya | MD Hindalco 1714.34

18 u Rick Bott + | ED & COO Cairn India* 1647.44

19 u N. Srinivasan | VC & MD India Cements 1593.84 1011.00

20 u A.M. Naik | CMD L&T 1529.71 1055.00

21 u Mukesh Ambani | CMD Reliance Industries 1500.00 464.00

22 u Bharat H. Singhania + | VC & MD JK Group 1444.53 1227.63

23 u Jaydev Galla | MD Amara Raja Batteries 1384.00 1358.90

24 u Rahul Dhir | MD & CEO Cairn India 1356.27

25 u Murali Divi | CMD Divi’s Labs 1347.00 1253.00

26 u Amar Lulla | Jt MD Cipla 1287.11 1250.00

27 u D. Ashok | Chairman Nava Bharat Ventures 1248.48 1076.63

28 u Jeya Kumar | CEO Patni Computers 1219.15

29 u P. Trivikrama Prasad | MD Nava Bharat Ventures 1217.03 1076.63

30 u Rakesh Kumar Wadhawan | Chairman HDIL 1200.00

31 u Hital Meswani | ED Reliance Industries 1114.00 770.00

32 u Nikhil Meswani | ED Reliance Industries 1114.00 760.00

33 u Prathap C. Reddy | Chairman Apollo Hospitals 1094.43

34 u N. Ramachandran | ED India Cements 1075.58

35 u K. Anji Reddy | Chairman Dr. Reddy’s Labs 1060.84 1000.00

36 u Malvinder Singh | Ex-MD & CEO Ranbaxy Labs ** 1012.21

37 u Reji Abraham | MD Aban Offshore 979.21 886.75

38 u Yadupati Singhania | MD & CEO JK Cements 964.00 700.00

39 u B.G. Raghupathy | CMD BGR Energy 924.69 785.88

40 u Desh Bandhu Gupta | Chairman Lupin Pharma 910.60 700.00

41 u Vinita Singhania | MD JK Lakshmi Cements 880.21 675.00

42 u Y.M. Deosthalee | WTD & CFO L&T 869.81 527.00

43 u Ashok Chaturvedi | CMD Uflex Ltd 864.75 300.00

44 u K. Venkataramanan | WTD & President L&T 864.71 527.00

45 u R.N. Mukhija | WTD & President L&T 860.41 527.00

46 u Y.K. Hamied | CMD Cipla 852.53 750.00

* Sept Year End; ** Dec Year End; $ Nov Year End; # June Year End; + Kumar Mangalam Birla Salary from Grasim, Hindalco & Aditya Birla Nuvo, Sajjan Jindal Salary from JSW Steel & JSW Energy, Rick Bott Includes bonus amt, Bharat H. Singhania Salary from JK Tyre & JK Lakshmi Cement, Hari Shankar Singhania Salary from JK Paper & JK Tyre

47 u Neeraj Kanwar | VC & MD Apollo Tyres 832.50 615.00

48 u Urvi A. Piramal | Chairperson Peninsula Land 831.84 550.00

49 u T.C. Goyal | MD DLF 831.71 400.00

50 u Gautam Thapar | Chairman Crompton Greaves 827.87 827.87

51 u M.K. Hamied | Jt MD Cipla 811.39 700.00

52 u B.G. Bangur | Chairman Shree Cement 804.55 550.00

53 u H.M. Bangur | MD Shree Cement 804.20 550.00

54 u Sameer Gehlaut | Chairman Indiabulls Financial Services 801.91

55 u Sanjeev Aga | MD Idea Cellular 794.30

56 u Azim H. Premji | CMD Wipro 786.97 651.48

57 u S.C. Mehta | VC & MD Deepak Fert & Petrochem 781.75 672.23

58 u J.P. Nayak | WTD & President L&T 776.16 527.00

59 u Raymond N. Bickson | MD The Indian Hotels 765.84 220.00

60 u Raghupati Singhania | VC & MD JK Tyres 761.92 552.63

61 u Atul Sobti | MD & CEO Ranbaxy Labs ** 761.80 316.45

62 u Sunil Duggal | CEO Dabur 737.73

63 u Y.C. Deveshwar | Chairman ITC 734.87 456.00

64 u P.D. Narang | Group Director Dabur 733.16

65 u Vikrampati Singhania | Dy MD JK Tyres 730.46 552.63

66 u N.V. Ramana | ED Divi’s Labs 730.00 626.37

67 u M.B. Parekh | MD Pidilite 725.14 555.25

68 u G. Bala Reddy | CMD ICSA ( I) 713.32 347.92

69 u Prakash M. Sanghvi | CMD Ratnamani Metals & Tubes 708.14 525.00

70 u V.K. Kaushik | MD Punj Lloyd 704.57

71 u M.V. Kotwal | WTD & Sr EVP L&T 698.68 422.00

72 u Sudhir Mehta | Chairman Torrent Power 687.13 260.00

73 u Ajay Piramal | Chairman Piramal Healthcare 686.77 300.00

74 u Premchand Godha | MD Ipca Labs 683.00 480.00

75 u Navin Agarwal | VC Sterlite Industries 667.82 135.81

76 u S.P. Oswal | CMD Vardhman Textiles 656.84 588.98

77 u Hari Shankar Singhania + | Chairman JK Group 653.70 435.00

78 u K. Satish Reddy | MD & COO Dr. Reddy’s Labs 644.85 600.00

79 u G.V. Prasad | VC & CEO Dr. Reddy’s Labs 644.67 600.00

80 u S. Misra | MD UltraTech Cement 643.00

81 u Kamal K. Sharma | MD Lupin Pharma 639.70

82 u D. Sundaram | VC & CFO HUL 637.60 34.25

83 u L.R.L. Lambert | President EIH 633.59

84 u K.V. Rangaswami | WTD & President L&T 633.40 422.00

85 u Armin Bruck | MD & CEO Siemens * 633.36

86 u V.K. Magapu | WTD & Sr EVP L&T 632.20 422.00

87 u Ajit Gulabchand | CMD HCC 611.50

88 u Rahul Bajaj | Chairman Bajaj Auto 611.21 360.00

89 u Sarang Wadhawan | MD HDIL 600.00

90 u Ravi Jhunjhunwala | CMD HEG 597.62 503.92

91 u N. Shiv Shankar | AVP & Delivery Head Infosys 589.71

92 u P.R.S. Oberoi | Chairman & CEO EIH 584.36 249.61

In ` lakh

1-92

Page 9: Route to the Top-Highest-Paid Executives

u 60 u

u

B u s i n e s s i n d i a u december 27, 2010–January 9, 2011The Highest Paid Executives

Rank u Name | Designation Company Salary Comm Rank u Name | Designation Company Salary Comm

In ` lakh

u 60 uu

93 u Pramod Chaudhari | Chairman Praj Industries 581.30 279.00

94 u Samir Mehta | MD Torrent Pharma 579.20 300.00

95 u Ratan Jindal + | VC & MD JSL* 577.54

96 u Bharat K. Sheth | Dy CMD GE Shipping 572.72 362.25

97 u Kameshwar Swarup | ED DLF 568.19 175.00

98 u Mahesh Gupta | Group MD Peninsula Land 566.69 350.00

99 u Adi Godrej | Chairman Godrej Consumer 564.84

100 u Shyam S. Bhartia | CMD Jubilant Organosys 544.49 300.00

101 u Rajiv Singh | VC DLF 543.17 400.00

102 u K. Suryanarayana | Chairman Oil Country Tubular 541.22 496.10

103 u Hari S. Bhartia | Co-chairman & MD Jubilant Organosys 540.83 300.00

104 u Anil Gopalan | RCVP HUL 534.06

105 u A.A.V. Ranga Raju | MD Nagarjuna Construction 532.60 323.16

106 u Jean de Montlaur | MD & President Federal-Mogul Goetze India 528.64

107 u Indrajit Banerjee + | ED & CFO Cairn India* 527.57

108 u Mayank Kejriwal + | MD Electrosteel Group 523.71 485.00

109 u R.D. Shroff | CMD United Phosphorus 522.55

110 u Harsh Pati Singhania | MD JK Papers 521.47 344.12

111 u Martial Rolland | WTD Nestle ** 521.02 251.90

112 u Rajeev A. Piramal | VC Peninsula Land 520.54 350.00

113 u Ranga Iyer | MD Wyeth $ 516.99

114 u D.K. Jain + | Chairman Gujarat Fluoro Group 509.05 440.34

115 u Anil B. Jain | MD Jain Irrigation 505.79 310.28

116 u K.P. Singh | Chairman DLF 500.66 400.00

117 u Hoshedar Press | VC & WTD Godrej Consumer 500.17

118 u Bhagirath Arya | Chairman JBF Industries 490.75 165.00

119 u Kiran S. Divi | Director Divi’s Labs 485.00 417.58

120 u Dhruv Sawhney | CMD Triveni Engg & Inds * 482.83 250.00

121 u Stephan Gerlich | MD Bayer CropScience 478.95

122 u S. Khosla | MD P&G Hygiene & Health # 475.15

123 u Manoj Tirodkar | CMD GTL 471.93 400.00

124 u Vinita Bali | MD Britannia Inds 466.30 150.00

125 u V.K. Rekhi | MD United Spirits 465.36

126 u A.J. Prasad | CMD HBL Power Systems 458.54 448.22

127 u Ajit B. Jain | Jt MD Jain Irrigation 456.13 310.28

128 u B.N. Kalyani | CMD Bharat Forge 455.90 150.00

129 u Manoj Kohli | CEO (Int’l) & Jt MD Bharti Airtel 452.76

130 u Rakesh Jain | MD Aditya Birla Nuvo 452.25 92.50

131 u Rajesh Jaggi | MD Peninsula Land 450.40 250.00

132 u E. Sunil Reddy | MD Hindustan Dorr-Oliver 447.74

133 u Dalip Sehgal | MD Godrej Consumer 447.57

134 u Ashok Advani | Chairman Blue Star 445.91 261.41

135 u D. Jayavarthanavelu | CMD Lakshmi Machine Works 445.52 329.39

136 u S.S. Mukerji | VC EIH 444.68 149.76

137 u S.V. Balasubramaniam | CMD Bannari Amman Sugars 442.35

138 u P. Ramachandran | CMD Jyothy Labs 440.08 216.63

139 u Shailendra K. Jain | WTD Grasim Inds 439.07

140 u Preetha Reddy | MD Apollo Hospitals 437.77

141 u Shekhar Bajaj | CMD Bajaj Electricals 434.83 417.05

142 u J.P. Chowdhary | Chairman Titagarh Wagons 433.67

143 u K.R. Thakur | WTD Jyoti Structures 433.10 318.80

144 u Sridhar Kamineni | MD Oil Country Tubular 432.98 390.29

145 u Deepak Parekh | Chairman HDFC 432.73 187.65

146 u Bhavesh Gandhi | VC Pipavav Shipyard 430.40

147 u S.M. Trehan | MD Crompton Greaves 428.34 184.00

148 u Ashok Kumar Goel | VC & MD Essel Propack 427.34

149 u Sunil D. Mathur | ED & CFO Siemens * 427.11

150 u Ravi Kant | VC Tata Motors 426.92 350.00

151 u B. Muthuraman | VC Tata Steel 423.10 300.00

152 u Suneel Advani | VC & MD Blue Star 419.50 261.41

153 u G. Venkatesh Babu | MD Lanco Infra 419.40

154 u Carl Peter Forster | MD & CEO Tata Motors 418.80

155 u Manish Gupta | MD Gujarat Ambuja Exports 416.83 375.26

156 u Madhur Bajaj | VC Bajaj Auto 415.96 252.00

157 u P.T. Siganporia | MD Tata Global Beverages 415.88

158 u Zubair Ahmed | MD GSK Consumer Healthcare 413.22

159 u Pravin Agarwal | WTD Sterlite Technologies 408.60 40.19

160 u Ashok B. Jain | VC Jain Irrigation 408.47 310.28

161 u Nitin Paranjpe | MD & CEO HUL 407.63 102.84

162 u S.K. Bangur | CMD The West Coast Paper Mills 405.05 376.00

163 u Vikram R. Shroff | ED United Phosphorus 404.38

164 u Sharat Chandra | President & COO GTL 396.99

165 u S.D. Lalla | Jt President United Spirits 396.48

166 u Rajeev Jhawar | MD Usha Martin 393.87 300.83

167 u T.T. Jagannathan | Chairman TTK Prestige 392.62 345.55

168 u Archana Hingorani | CEO & ED IL&FS Investment 389.02

169 u Prakash A. Mody | CMD Unichem 388.43 165.71

170 u Ameet H. Desai | Ex-WTD Mundra Port & SEZ 386.31

171 u Sanjiv Goenka | VC CESC 385.70 382.50

172 u Keki Mistry | VC & CEO HDFC 385.60 223.50

173 u H.V. Goenka | Chairman KEC Int’l 384.80 384.00

174 u Arun B. Ram | Chairman SRF 383.09 180.00

175 u G.V.K. Krishna Reddy | Chairman Taj GVK Hotels 376.12

176 u Eshan Joshi | AVP Infosys 375.90

177 u K.K. Modi + | CMD Godfrey Group 375.66 193.67

178 u Jayanti M. Sanghvi | WTD Ratnamani Metals & Tubes 374.59 315.00

179 u Praful A. Shah | CMD Garden Silk Mills 369.95 275.00

180 u Arun Kumar | VC & MD Strides Arcolab ** 369.61

181 u K.K. Maheshwari | Ex-WTD Aditya Birla Nuvo 368.82 103.16

182 u Rajiv Bajaj | MD Bajaj Auto 367.76 216.00

183 u Sushil Ansal | Chairman & WTD Ansal API 364.57 175.61

184 u Naveen Kshatriya | VC Castrol ** 363.40

* Sept Year End; ** Dec Year End; $ Nov Year End; # June Year End; + Ratan Jindal `433.47 lakh from Jindal Stainless FZE & `144.07 from Jindal Stainless UK, Indrajit Banerjee Includes ex-gratia amt, Mayank Kejriwal Salary from Electrosteel Castings & Lanco Inds, D.K. Jain Salary from Gujarat Fluorochem & Lumax Inds, K.K. Modi Salary from Godfrey Phillips & Indofill Organics

93-184

Page 10: Route to the Top-Highest-Paid Executives

u 61 uu

B u s i n e s s i n d i a u december 27, 2010–January 9, 2011 The Highest Paid Executives

Rank u Name | Designation Company Salary Comm Rank u Name | Designation Company Salary Comm

In ` lakh

185 u R. Sarabeswar | Chairman & CEO Consolidated Const Cons 362.65 113.94

186 u S. Ramadorai | VC TCS 361.63 250.00

187 u K.G. Tendulkar | Dy MD HCC 361.30 2.40

188 u Pradeep Kumar Jain | Chairman Parsvnath Developers 360.79

189 u Tomotaka Ishikawa | Advisor Bajaj Auto 359.86

190 u Renu Sud Karnad | MD HDFC 359.54 205.50

191 u L. Madhusudhan Rao | Chairman Lanco Infra 359.50

192 u Gautam Kulkarni | Jt MD Kirloskar Engines 355.46 250.00

193 u Dinesh B. Mody | WTD JB Chem & Pharma 354.80 128.00

194 u Jyotindra B. Mody | MD JB Chem & Pharma 354.80 128.00

195 u Shirish B. Mody | WTD JB Chem & Pharma 354.80 128.00

196 u Atul B. Jain | Director Jain Irrigation 354.04 310.28

197 u Atul C. Kirloskar + | CMD Kirloskar Group 353.19 250.00

198 u K.M. Sheth | Chairman GE Shipping 352.87 150.00

199 u Rahul C. Kirloskar | Director Kirloskar Engines 352.64 250.00

200 u Vijay Kumar Gupta | CMD Gujarat Ambuja Exports 348.60 307.03

201 u Sanjay Kirloskar | MD Kirloskar Brothers 347.06 250.00

202 u Vikram Kirloskar | ED Kirloskar Brothers 346.66 202.05

203 u G. Vivekanand | MD Visaka Inds 343.44 316.66

204 u Gautam H. Singhania | CMD Raymond 343.01

205 u Satish Jamdar | MD Blue Star 342.55 228.70

206 u P.M. Murty | MD & CEO Asian Paints 341.94 150.00

207 u Aditya Puri | MD HDFC Bank 340.87

208 u J.C. Sharma | MD Sobha Developers 340.51 285.50

209 u Ajai Chowdhry | Chairman & CEO HCL Info # 340.37

210 u K. Ganguly | MD United Breweries 338.76

211 u Vineet Nayyar | VC & MD Tech Mahindra 338.20 99.30

212 u P.M. Telang | MD - India Tata Motors 337.16 240.00

213 u Patrick de Royer | Ex-ED Siemens * 336.67

214 u Jens Hartmann | Country Head Bayer CropScience 336.61

215 u J. Saxena | CMD Elder Pharma 336.01

216 u Saud Ibne Siddique | Jt MD SREI Infra Finance 334.95

217 u Punit Goenka | MD Zee Entertainment 333.58

218 u Swati Piramal | WTD Piramal Healthcare 330.96 150.00

219 u G. Bhaskara Rao | VC Lanco Infra 330.50

220 u Ashok Jaipuria | CMD Cosmo Films 330.08 2.96

221 u R. Vasudevan | MD Vascon Engg 330.00

222 u S. Sivaramakrishnan | MD Consolidated Const Cons 328.08 113.94

223 u Nilesh Gupta | ED Lupin Pharma 327.50

224 u Raymond S. Noronha | MD VST Inds 326.98

225 u Gopal Vittal | ED HUL 326.75 41.69

226 u Umang Kejriwal | MD Electrosteel Castings 326.62 285.00

227 u C.J.M. Reuvers | CFO Philips Electronics 325.67

228 u Govind Shrikhande | Pres, CEO & ED Shoppers Stop 324.72

229 u Kapil Puri | CMD Spanco 324.33

230 u H.S. Bedi | CMD Tulip Telecom 323.26

231 u Pia Singh | WTD DLF 322.54 125.00

232 u Rajshree Pathy | Chairperson & MD Rajshree Sugars 321.89 171.40

233 u Shishir Bajaj | CMD Bajaj Hindusthan * 321.09 175.00

234 u C.P. Sanghvi | CMD Sanghvi Movers 317.26 133.00

235 u Murli Ranganathan | WTD Torrent Power 316.40 60.00

236 u T.V. Mohandas Pai | Director Infosys 313.42

237 u A.L. Kapur | MD Ambuja Cements ** 313.31

238 u Alka Goyal | ED Surya Pharma 313.26

239 u Rajiv Goyal | MD Surya Pharma 313.26

240 u R.S. Agarwal | Chairman Emami 313.22 200.00

241 u Pinakin Gandhi | Group Head GTL 312.45

242 u Shantanu Prakash | CMD Educomp Solutions 311.00 200.00

243 u J.H. Dalmia | VC Dalmia Cement 306.89 250.00

244 u A.Y. Mahajan | MD Grindwell Norton 305.48

245 u Vikrant Gujral | VC Jindal Steel & Power 305.36

246 u Ashok B. Jiwrajka | Chairman Alok Inds 305.00

247 u C.K. Bubna | ED Alok Inds 305.00

248 u Dilip B. Jiwrajka | MD Alok Inds 305.00

249 u Surendra B. Jiwrajka | Jt MD Alok Inds 305.00

250 u Y.H. Dalmia | VC Dalmia Cement 304.30 250.00

251 u Harsh Mariwala | CMD Marico 303.43

252 u Pranab Barua | WTD Aditya Birla Nuvo 303.31

253 u K.K. Bangur | Chairman Graphite India 302.20 300.00

254 u H.M. Nerurkar | MD Tata Steel 301.27 200.00

255 u Rajesh S. Jain | Chairman Emco 301.24 218.75

256 u Robert D. Stanton | Head Bayer CropScience 300.95

257 u Charudatta Naik | WTD GTL 299.16

258 u N. Chandrasekaran | MD & CEO TCS 297.82 200.00

* Sept Year End; ** Dec Year End; $ Nov Year End; # June Year End; + Atul C. Kirloskar Salary from Kirloskar Engines & Kirloskar Inds

185-258

Page 11: Route to the Top-Highest-Paid Executives

u 62 u

u

B u s i n e s s i n d i a u december 27, 2010–January 9, 2011The Highest Paid Executives

Rank u Name | Designation Company Salary Comm Rank u Name | Designation Company Salary Comm

In ` lakh

259 u Arvind M. Poddar | VC & MD Balkrishna Inds 297.56 180.00

260 u K.S. Vaidyanathan | Director Bajaj Hindusthan * 297.10

261 u Sumanta Banerjee | MD CESC 296.73 215.00

262 u Suresh Vaswani | Jt CEO Wipro 296.28 83.61

263 u Divyesh B. Shah | CEO Indiabulls Securities 295.89

264 u Andreas Funk | VP Bajaj Auto 295.66

265 u Kirpal Singh | Chairman Dolphin Offshore 295.57 176.20

266 u Suresh C. Senapaty | ED & CFO Wipro 294.36 71.03

267 u Shailesh S. Jain | VC Emco 292.15 218.75

268 u Andreas W. Kolf | ED Federal-Mogul Goetze India 291.58

269 u P.C. Kapoor | MD Bharati Shipyard 289.50 205.50

270 u Vijay Kumar | MD Bharati Shipyard 289.50 205.50

271 u Uddhav Kejriwal | WTD Electrosteel Castings 288.92 240.00

272 u Shashi Kiran Shetty | CMD Allcargo Global Logistics ** 288.43 200.00

273 u Rajendra K. Somany | CMD HSIL 287.70 188.34

274 u Prayasvin B. Patel | CMD Elecon Engg 287.00 145.00

275 u K.R. Kim | CEO Videocon Inds * 285.15

276 u Rajgopal J. Nogja | President HCC 284.48

277 u Kushagra Bajaj | Jt MD Bajaj Hindusthan * 284.45 175.00

278 u Anup Singh | ED ITC 284.18 153.90

279 u Ravi Nedungadi | President & CFO United Spirits 282.24

280 u Satish Sharma | Chief - India Ops Apollo Tyres 281.90

281 u Sminu Jindal | MD Jindal Saw 281.51 94.50

282 u Dipak Gupta | ED Kotak Mahindra Bank 281.30

283 u M.P. Taparia | MD Supreme Inds 279.48 224.21

284 u M.V.S. Seshagiri Rao | Jt MD JSW Steel 279.37

285 u S.J. Taparia | ED Supreme Inds 277.80 224.21

286 u Kaikobad B. Mistry | CFO Bayer CropScience 276.01

287 u Rakesh Sharma | CEO - Int’l Biz Bajaj Auto 275.92

288 u D.P. Agarwal | VC & MD TCI 275.68 50.00

289 u Habil F. Khorakiwala | Chairman Wockhardt 275.30

290 u C. Jayaram | ED Kotak Mahindra Bank 275.16

291 u Hitesh Patel | EVP Kingfisher Airlines 274.41

292 u V.K. Taparia | ED Supreme Inds 274.25 224.21

293 u Sumant Patel | CMD Nesco 274.03 241.94

294 u Suneeta Reddy | ED Apollo Hospitals 273.61

295 u Rajesh S. Adani | MD Adani Enterprises 271.00 50.00

296 u R.C. Mansukhani | Chairman Man Industries 270.63

297 u A.G.K. Raju | ED Nagarjuna Construction 270.46 161.58

298 u A.S.N. Raju | WTD Nagarjuna Construction 269.39 161.58

299 u B.V.R. Mohan Reddy | CMD Infotech Enterprises 267.93 229.85

300 u R. Mukundan | MD Tata Chemicals 267.92 150.00

301 u Sandip Somany | Jt MD HSIL 266.37 188.34

302 u Rajas R. Doshi | CMD The Indian Hume Pipe 265.80 173.28

303 u Mullapudi H. Prasad | CMD The Andhra Sugars 265.31 222.06

304 u Anand Mahindra | VC & MD Mahindra & Mahindra 264.66 130.85

305 u Vivek Mohan | MD Abbott India $ 263.58

306 u A.V.N. Raju | WTD Nagarjuna Construction 259.66 161.58

307 u Kewal Handa | MD Pfizer $ 259.57

308 u Rajinder Gupta | MD Abhishek Inds 257.33 17.33

309 u B.K. Goenka + | CMD Welspun Group 257.30 172.30

310 u Stuart Atiken | EVP HCC 255.51

311 u K. Srinivas | President Alembic 255.48

312 u Vijay Aggarwal | MD Prism Cement 255.00

313 u Subhash Menon | CMD & CEO Subex 254.69

314 u P.K. Iyer | VC Deccan Chronicle Holdings 254.10

315 u Shanti M. Sanghvi | WTD Ratnamani Metals & Tubes 253.92 210.00

316 u T. Vinayak Ravi Reddy | VC Deccan Chronicle Holdings 253.60

317 u M. Dziki | MD Merck 253.42 36.00

318 u R.S. Agrawal | MD Ineos ABS ** 253.19

319 u T. Venkattram Reddy | Chairman Deccan Chronicle Holdings 253.05

320 u B.B. Ramaiah | MD The Andhra Sugars 252.16 222.06

321 u Nikhil J. Danani | VC & MD Bharat Bijlee 251.77 114.34

322 u Nitin S. Kasliwal | VC & MD SKNL 251.39

323 u Nakul P. Mehta | VC & MD Bharat Bijlee 251.30 114.34

324 u M.K. Singhi | ED Shree Cement 250.66

325 u R. Seshasayee | MD Ashok Leyland 250.57 91.56

326 u Satpal Singh | MD Dolphin Offshore 250.30 132.15

327 u Anand Deepak | President United Breweries Holdings 250.23

328 u C.R. Amin | CMD Alembic 249.84

329 u James Richard Cowan | Manager HUL 249.67

330 u Satish Khanna | Group President Lupin Pharma 249.21

331 u Ananda Mukerji | MD & CEO Firstsource Solutions 249.02

332 u G. Harrison | Dy Electrical Site Manager Siemens * 249.00

333 u Janardan Agrawal | Chairman Bombay Rayon Fashions 248.47 248.47

334 u Ashok B. Garware | Chairman Garware Offshore 248.15 71.50

335 u K. Ramchand | MD IL&FS Transportation 247.67

336 u Manfred Duernholz | Jt MD Bosch ** 247.32 66.30

337 u Krishnamoorthy Vaidyanath | ED ITC 246.61 132.53

338 u Navpreet Singh | Jt MD Dolphin Offshore 245.94 132.15

339 u Suresh Gurumani | CEO SKS Microfinance 244.86

340 u H.A. Mafatlal | Chairman Navin Fluorine Int’l 244.22 214.30

341 u Sanjay Jayavarthanavelu | WTD Lakshmi Machine Works 243.33 164.70

342 u V.L. Dutt | CMD KCP 243.31 219.60

343 u V.L. Indira Dutt | Jt MD KCP 243.31 218.37

344 u Alok P. Shah | Jt MD Garden Silk Mills 243.05 150.00

345 u V. Balakrishnan | CFO Infosys 242.65

346 u Srinath Batni | Director Infosys 242.36

347 u V.K. Viswanathan | MD Bosch ** 242.13 116.11

348 u N.B. Godrej | MD Godrej Inds 241.34

349 u R. Venkatrangappan | WTD Lakshmi Machine Works 241.14 164.70

350 u Sanjiv Bajaj + | MD Bajaj Group 241.10 162.00

* Sept Year End; ** Dec Year End; $ Nov Year End; # June Year End; + B.K. Goenka Salary from Welspun India & Welspun Corporation, Sanjiv Bajaj Salary from Bajaj Auto & Bajaj Financial Services

In ` lakh

259-350

Page 12: Route to the Top-Highest-Paid Executives

u 64 u

u

B u s i n e s s i n d i a u december 27, 2010–January 9, 2011The Highest Paid Executives

Rank u Name | Designation Company Salary Comm Rank u Name | Designation Company Salary Comm

In ` lakh

351 u Milind S. Korde | MD Godrej Properties 240.46

352 u V.G. Janarthanam | Director Consolidated Const Cons 239.50 113.94

353 u Shivani A. Dahanukar | ED Tilaknagar Inds 239.41 115.12

354 u Amit Dahanukar | CMD Tilaknagar Inds 239.41 46.16

355 u H.M. Bharuka | MD Kansai Nerolac Paints 239.19 105.00

356 u D.P.S. Kohli | Chairman & WTD Koutons Retail 239.14

357 u Romesh Sobti | MD & CEO IndusInd Bank 238.35

358 u G.S. Sawhney | Dy MD Koutons Retail 238.14

359 u B.S. Sawhney | MD Koutons Retail 237.43

360 u Shivinder M. Singh | MD Fortis Healthcare 237.21

361 u Ajay Nanavati | MD 3M India 237.18

362 u Hemant M. Shah | Chairman Ackruti City 236.32

363 u P.P. Chhabria | Chairman Finolex Cables 236.19 100.00

364 u D.K. Chhabria | MD Finolex Cables 236.19 100.00

365 u S. Mahalingam | ED & CFO TCS 236.09 150.00

366 u Rakshit Desai | ED Thomas Cook ** 235.68

367 u Kunal Ahooja | CEO Spice Mobililty 235.16

368 u T.G.S. Babu | Dy MD Blue Star 233.75 130.70

369 u Murali Sivaraman | VC & MD Philips Electronics 233.66

370 u Bakul Jain | MD DCW 232.34 177.93

371 u Pramod Kumar Jain | MD DCW 232.34 177.93

372 u Shashi Chand Jain | CMD DCW 232.34 177.93

373 u Vidur Behal | VP HUL 232.16

374 u D. Khaitan | VC & MD Eveready 231.77

375 u Mahendra Singh Mehta | WTD Hindustan Zinc 231.53

376 u Sumit Banerjee | MD ACC ** 231.19

377 u Venu Srinivasan | CMD TVS Motor Co 231.00 231.00

378 u R. Sankaraiah | ED Jubilant Organosys 230.54

379 u K. Ullas Kamath | Dy MD Jyothy Labs 230.41 108.32

380 u Adarsh Hegde | ED Allcargo Global Logistics ** 229.76 175.00

381 u P.V. Kuppuswamy | Ex-Jt MD Bombay Dyeing Mfg Co 229.54

382 u R.R. Deshpande | ED Kirloskar Engines 229.11 150.00

383 u Ratan Tata + | Chairman Tata Group 228.90 224.00

384 u Ramesh Ramanathan | MD Mahindra Holidays & Resorts 228.20

385 u Kanubhai S. Patel | MD & CEO Voltamp Transformers 227.30 126.27

386 u Vandana Jain | ED DCW 227.02 177.93

387 u H.B. Joshipura | MD GlaxoSmithKline Pharma ** 226.51

388 u P. Bhattacharya | Jt MD Usha Martin 226.00 150.41

389 u Anant Bajaj | ED Bajaj Electricals 225.74 208.53

390 u S.K. Arya | CMD Jay Bharat Maruti 225.12 101.82

391 u Rohtas Goel | CMD Omaxe 225.00

392 u Kai-Uwe Brueggen | Head Bayer CropScience 225.00

393 u Sudeesh Yezhuvath | COO & WTD Subex 224.58

394 u Poupon Yannick | COO The Indian Hotels 223.87

395 u Aditya A. Garware | VC & MD Garware Offshore 223.81 58.50

396 u Paras K. Chowdhary | MD CEAT 223.66

397 u Manoj Chhabra | MD Prism Cement 223.00

398 u A.K. Chhatwani | Sr EVP L&T 222.82

399 u Nimish R. Patel | WTD Patel Engg 222.72

400 u Shinzo Nakanishi | MD & CEO Maruti Suzuki 222.58

401 u K.M. Philip | WTD MRF * 222.34 51.00

402 u Shrijeet Mishra | ED HUL 222.08

403 u B. Saravanan | Jt MD Bannari Amman Sugars 221.98

404 u K. Muralikrishna | VP & Group Head Infosys 221.47

405 u Vishambhar Saran | Chairman Visa Steel 221.18 46.58

406 u Dhaval J. Buch | ED HUL 220.81 28.85

407 u N.R. Kothandaraman | MD & CEO Oracle Financial Services 220.43

408 u M.C. Amin | WTD Alembic 219.84

409 u Ravi Bhushan Bhardwaj | VC & MD Sunflag Iron & Steel 219.60 128.78

410 u Anand Goel | Jt MD Jindal Steel & Power 218.66

411 u Ashok Capoor | Dy President United Spirits 218.27

412 u K.M. Mammen | CMD MRF * 217.93 51.00

413 u Indresh Batra | MD Jindal Saw 217.57 93.60

414 u P.N.C. Menon | Chairman Sobha Developers 217.45

415 u Heiner Meier | ED Clariant Chemicals ** 217.09 26.75

416 u J.C. Mansukhani | VC & MD Man Inds 216.00

417 u Rajesh Kumar Gupta | Director Havells 215.88 145.73

418 u Shashank Inamdar | MD & CEO Praj Inds 214.50 117.00

419 u N. Santhanam | ED & COO Piramal Healthcare 213.18 60.00

420 u Edwin Lempers | Product Devp Manager HUL 212.85

421 u A.K. Nanda | Ex-ED Mahindra & Mahindra 212.64 89.00

422 u Ravinder Jain | MD Panacea Biotec 212.29

423 u Gaurav Kumar | Group Head Apollo Tyres 211.90

424 u Kamal Kishore Sarda | CMD Sarda Energy & Minerals 211.77

425 u Girish S. Paranjpe | Jt CEO Wipro 211.45 78.65

426 u V.F. Banaji | WTD Godrej Inds 211.36

427 u P.A. Murali | Dy President – CFO United Spirits 211.04

428 u Vishal Agarwal | MD Visa Steel 210.24 41.58

429 u Pranav Ansal | VC & MD Ansal API 210.11 87.80

430 u Hong Gi Choi | Sr GM BASF 210.09

431 u Vyomesh M. Shah | MD Ackruti City 210.06

432 u A.K. Gupta | ED HUL 209.98

433 u Manoj Gaur | Chairman Jaiprakash Associates 209.96

434 u Rustin R. Murdock | WTD & CFO Federal-Mogul Goetze India 209.39

435 u Vijay R. Kirloskar | CMD Kirloskar Electric Co 209.08

436 u Arun Mehta | CMD Varun Shipping Co 208.25

437 u Chandra Shekar Kakal | SVP Infosys 208.15

438 u Jaspal S. Bajwa | President Dr. Reddy’s Labs 206.47

439 u Satish B. Kulkarni | MD & CEO Fresenius Kabi Oncology 206.38

440 u V.V. Paranjape | WTD Siemens * 206.24

441 u Gautam Dalmia | MD Dalmia Cement 206.19 150.00

442 u Vijay Shah | MD Piramal Glass 206.13

443 u N.K. Parekh | Jt MD Pidilite 205.68 111.05

444 u T.V. Sandeep Kumar Reddy | MD Gayatri Projects 205.50 48.00

* Sept Year End; ** Dec Year End; $ Nov Year End; # June Year End; + Ratan Tata Salary from Tata Motors, TCS & The Indian Hotels

In ` lakh

351-444

Page 13: Route to the Top-Highest-Paid Executives

u 65 uu

B u s i n e s s i n d i a u december 27, 2010–January 9, 2011 The Highest Paid Executives

Rank u Name | Designation Company Salary Comm Rank u Name | Designation Company Salary Comm

In ` lakh

* Sept Year End; ** Dec Year End; $ Nov Year End; # June Year End

In ` lakh

445 u Aroon Purie | CMD TV Today Network 205.14 205.14

446 u Vijay Agarwal | CMD Action Construction Equip 204.40

447 u Kapil Mehan | ED Tata Chemicals 204.38 100.00

448 u Marcelo Villagran | MD Bata ** 203.33

449 u Bhaskar Bhat | MD Titan Inds 203.13 110.00

450 u R.D. Chandak | MD KEC Int’l 203.01 28.41

451 u D. Atkinson | CFO Ambuja Cements ** 202.50

452 u Srinivash Singh | MD McNally Bharat Engg 202.27

453 u Parameswaran Sivalingam | CEO GMR Infra 202.20

454 u Mukul Somany | Jt MD Hindusthan National Glass 201.54 72.96

455 u P.K. Apte | President & MD Syngenta 201.02

456 u Puneet Dalmia | MD Dalmia Cement 200.42 150.00

457 u Manish Maheshwari | Jt MD Hindustan Oil Exploration 200.19

458 u Meenakshi Sarogi | Jt MD Balrampur Chini Mills 199.85 90.00

459 u P. Pusalkar | WTD Godrej Inds 199.78

460 u Ajay Bijli | CMD PVR 199.68

461 u Harish Engineer | ED HDFC Bank 199.65

462 u Kunjal L. Patel | VC & MD Voltamp Transformers 199.57 126.27

463 u Silloo Y. Patel | WTD Patel Engg 199.32

464 u Ravi Menon | VC Sobha Developers 199.19

465 u T. Rajamannar | WTD & EVP Sun Pharma Advanced 199.15

466 u Paresh Sukthankar | ED HDFC Bank 198.42

467 u Luv Chhabra | Director Punj Lloyd 197.83

468 u Ajit B. Kulkarni | MD Pratibha Inds 197.47 115.00

469 u Sunil Kumar Sharma | VC Jaiprakash Associates 197.01

470 u Rajinder Kumar | President Dr. Reddy’s Labs 196.70

471 u P.P. Gupta | MD Techno Electric & Engg 196.63 122.90

472 u P.K. Ghose | ED & CFO Tata Chemicals 196.17 100.00

AGM Assistant General ManagerAsst AssistantAVP Assistant Vice PresidentCCPO Chief Central Procurement OfficerCE Chief ExecutiveCEO Chief Executive OfficerCFO Chief Financial OfficerCGM Chief General ManagerCIO Chief Information OfficerCMD Chairman & Managing Director

Comm CommissionCOO Chief Operating OfficerCPAO Chief Public Affairs OfficerCPO Chief People OfficerCRO Chief Revenue OfficerCSO Chief Strategy OfficerCSOO Chief Sales & Operations OfficerCTO Chief Technical OfficerDGM Deputy General ManagerDiv Divisional

Dy DeputyED Executive DirectorEngg EngineerEVP Executive Vice PresidentExec ExecutiveGC Group ControllerGen GeneralGM General ManagerHO Head OfficeHR Human ResourcesHRBP HR Business Partner

Indep IndependentJt JointMCE Mechanical Commissioning EngineerMD Managing DirectorMEO Managing Executive OfficerMgr ManagerPres PresidentProj Project RCO Regional Compliance Officer

Reg RegionalSr SeniorSVP Senior Vice PresidentVC Vice ChairmanVP Vice PresidentWTD Whole Time Director

SPIC Southern Petrochemical Ind Corp LtdWelspun Corp Welspun Gujarat Stahl Rohren

473 u Pranav Bhardwaj | Jt MD Sunflag Iron & Steel 195.43 128.78

474 u Dinesh Munot | MD ZF Steering Gear 194.97 85.00

475 u H.S. Bawa | MD Zuari Inds 194.95

476 u Tanya Dubash | ED & President Godrej Inds 194.83

477 u Prasad Chandran | CMD BASF 194.83

478 u R. Sridhar | ED HUL 194.75

479 u Ashok Soni | MD Voltas 194.55

480 u N. Sai Sankar | Dy MD VST Inds 193.07

481 u Ramesh Chandra | Chairman Unitech 192.96

482 u P. Sampath | Director Essar Oil & Gas 192.17

483 u Shakti Chakraborty | Group President Lupin Pharma 192.11

484 u S.C. Srinivasan | VP HUL 192.08

485 u Gautam S. Adani | Chairman Adani Enterprises 192.00 50.00

486 u Suhail P. Shah | ED Garden Silk Mills 191.95 125.00

487 u Rashesh Shah | Chairman & CEO Edelweiss 191.81

488 u Vinayak Deshpande | President & COO HCC 191.45

489 u S. Talwar | WTD Tata Global Beverages 191.43 90.00

490 u O.P. Lohia | CMD Indo Rama Synthetics 191.13

491 u Vivek Sarogi | MD Balrampur Chini Mills 190.81 90.00

492 u Arun Mammen | MD MRF * 190.69 45.00

493 u K.N. Murali Krishnan | President Biocon 190.49

494 u Arun Chandavarkar | COO Biocon 190.42

495 u Hakan Behlil | VP HUL 190.04

496 u Roopa Kudva | MD & CEO Crisil ** 190.01 68.00

497 u Puneet Kinra | Group CEO Balaji Telefilms 190.00

498 u Kiran N. Mehta | CMD Varun Inds 189.78 39.69

499 u Shekhar Ramamurthy | Dy President United Breweries 189.11

500 u Suresh Gupta | MD & CEO The Paper Products ** 188.77

445-500

Page 14: Route to the Top-Highest-Paid Executives

In ` lakh

B u s i n e s s i n d i a u december 27, 2010–January 9, 2011The Highest Paid Executives

Rank | Name | Designation Company Salary Rank | Name | Designation Company Salary Rank | Name | Designation Company Salary

u 66 u

u

* Sept Year End; ** Dec Year End; $ Nov Year End; # June Year End; + C.K. Birla Salary from Orient Paper Inds & Hyderabad Inds

501 | Bhupatrai G. Gandhi | Jt MD Gandhi Special Tubes 188.53

502 | Manhar G. Gandhi | MD Gandhi Special Tubes 188.53

503 | Pankaj Sachdeva | MD Kalpataru Power 188.35

504 | Prakash Shukla | SVP & CIO The Indian Hotels 188.23

505 | Purnandu Jain | CMD Ankur Drugs 188.16

506 | Vinod Dhawan | President Lupin Pharma 188.01

507 | Anil Kumar | Jt MD & CEO Ansal API 187.95

508 | Sridhar Ramamurthy | CFO HUL 187.64

509 | Rohit Modi | Dy MD Gammon India 187.57

510 | Ashish B. Ram | MD SRF 187.57

511 | K.V.L. Narayan Rao | CEO NDTV 187.20

512 | Alok B. Shriram | Dy MD DCM Shriram Inds 187.20

513 | Tilak Dhar | CMD DCM Shriram Inds 187.20

514 | B. Gopalan | ED Orchid Chem & Pharma 186.66

515 | R. Keswani | President EIH 186.50

516 | Lalit Khaitan | CMD Radico Khaitan 186.29

517 | Vilas B. Parulekar | Ex-WTD Siemens * 185.60

518 | V. Ravichandran | MD Coromandel Int’l 185.17

519 | Ravi Uppal | CEO & MD L&T Power 185.13

520 | Vinod K. Dasari | WTD & COO Ashok Leyland 184.84

521 | Manish Mohnot | ED Kalpataru Power 184.71

522 | Rakesh Makhija | MD SKF India ** 184.52

523 | S.N. Singh | ED Jubilant Organosys 184.27

524 | M.L. Gupta | MD Everest Inds 183.98

525 | Vikram S. Oberoi | Jt MD EIH 183.82

526 | Bharat Doshi | ED Mahindra & Mahindra 183.81

527 | Shobhana Bhartia | Chairperson HT Media 183.77

528 | Amit B. Kalyani | ED Bharat Forge 183.30

529 | Nitin Mandavkar | Group Head GTL 183.12

530 | Glenn Saldanha | MD & CEO Glenmark Pharma 182.82

531 | Arjun S. Oberoi | Jt MD EIH 182.82

532 | Jag Mohan Khanna | ED Jubilant Organosys 182.07

533 | G.K. Agarwal | Dy MD Bharat Forge 181.98

534 | Chanda Kochhar | MD & CEO ICICI Bank 181.82

535 | Praveen Sood | CFO HCC 181.78

536 | A.B. Parekh | WTD Pidilite Inds 181.62

537 | Vineet Agarwal | ED TCI 180.89

538 | Anita Goyal | EVP Jet Airways 180.34

539 | Maninder Bedi | ED Tulip Telecom 180.27

540 | R.K. Jena | MD Balasore Alloys 180.22

541 | Dinesh Oswal | MD Nahar Spinning Mills 180.10

542 | Ravi Puravankara | CMD Puravankara Projects 179.52

543 | D.D. Jalan | WTD Sterlite Inds 179.30

544 | Sanjay Somany | MD Hindusthan National Glass 178.99

545 | Amit D. Patel | MD Sintex Inds 178.72

546 | Rakesh Bamzai | President Biocon 178.58

547 | Aditya Khaitan | MD McLeod Russel 178.41

548 | S. Pritmani | Regional Director Voltas 178.40

549 | Rahul A. Patel | MD Sintex Inds 178.18

550 | Nirmal Jain | CMD India Infoline 178.13

551 | A.B. Sargunar Philip | COO-RPC United Spirits 178.09

552 | T.K. Kurien | President Wipro 178.03

553 | C. Dutt | Director Torrent Pharma 177.15

554 | M. Eipe | ED & President Godrej Inds 177.08

555 | T.V. Ramanathan | MD & CEO Exide Inds 177.00

556 | Alexius M. Josephus | CEO Philips Electronics 176.82

557 | C.K. Birla + | Chairman Orient Group 176.80

558 | Umesh Chowdhary | VC & MD Titagarh Wagons 176.64

559 | A.P. Mehta | ED Castrol ** 176.44

560 | M.L. Pachisia | MD Orient Paper & Inds 176.23

561 | K. Raghavendra Rao | MD Orchid Chem & Pharma 176.13

562 | Sushil Kumar Wali | WTD JK Lakshmi Cements 175.77

563 | Shailendra Chouksey | WTD JK Lakshmi Cements 175.52

564 | O.P. Goyal | WTD JK Papers 175.19

565 | Sudhakar Ram | CMD Mastek # 175.12

566 | P.D. Mundhra | ED eClerx Services 175.00

567 | Vinod K. Nowal | Director & CEO JSW Steel 174.68

568 | P.M. Patel | MD ABC Bearings 174.48

569 | T.M. Patel | ED ABC Bearings 174.48

570 | Digambar C. Bagde | Director & CEO Gammon India 173.50

571 | G.N. Mehra | CMD Savita Oil Tech 173.00

572 | Prasun K. Mukherjee | MD Sesa Goa 173.00

573 | Gautam R. Morarka | CMD Dwarikesh Sugars * 172.87

574 | B.L. Taparia | Co Sec Ambuja Cements ** 172.76

575 | Ashok Goyal | MD Phillips Carbon Black 172.54

576 | Pradeep Tyle | Sr President Uflex 172.37

577 | Sanjay S. Lalbhai | CMD Arvind Mills 172.30

578 | Subhash B. Dhar | SVP Infosys 172.06

579 | Arathi Shetty | ED Allcargo Global Logistics ** 171.95

580 | Biplab Majumdar | VC & MD ABB 171.75

581 | T. Rajgopal | VP HUL 171.63

582 | Ajay Chandra | MD Unitech 171.52

583 | Sanjay Chandra | MD Unitech 171.52

584 | P.K. Choudhury | VC & CEO ICRA 171.29

585 | Gagan Banga | CEO Indiabulls Financial Services 170.70

586 | M.S. Unnikrishnan | MD Thermax 170.68

587 | Sunil Makharia | EVP Lupin Pharma 170.32

588 | Vikram Limaye | WTD IDFC 170.32

589 | Vijay K. Sheth | Ex-VC & MD Great Offshore 170.21

590 | Gautam Adani | CMD Mundra Port & SEZ 170.00

591 | Jayesh K. Shah | Director & CFO Arvind Mills 169.81

592 | Murali M. Natrajan | MD & CEO Development Credit Bank 169.20

593 | Phiroz Vandrevala | ED TCS 169.20

594 | R. Ramakrishnan | ED Bajaj Electricals 168.45

595 | E. Tonolli | SVP Bata India ** 167.86

596 | Dinesh Nair | Jt MD Hotel Leelaventure 167.60

597 | Vivek Nair | VC & MD Hotel Leelaventure 167.60

598 | Rajiv Lall | MD & CEO IDFC 167.57

599 | Soshil Kumar Jain | Chairman Panacea Biotec 167.51

600 | Ajay Kaul | WTD & CEO Jubilant Foodworks 166.47

601 | Marco Magglorotto | Reg Brand Mgr HUL 165.93

602 | Naresh K. Nayyar | MD Essar Oil & Gas 165.90

603 | Abhijit Mukherjee | President Dr. Reddy’s Labs 165.82

604 | Rajender Kamboj | President Lupin Pharma 165.62

605 | Jitendra Mamtora | CMD Transformers & Rectifiers ( I ) 165.23

606 | T. Venkatesan | WTD Dalmia Cement 165.14

607 | Rathindra Nath Basu | MD Areva T&D ** 164.74

608 | P. Bhambani | EVP Siemens * 164.16

609 | Surinder P. Kanwar | CMD Bharat Gears 164.06

610 | Arun Kumar Jagatramka | CMD Gujarat NRE Coke 163.74

611 | U.B. Pravin Rao | SVP Infosys 163.70

612 | Kartikeya B. Ram | Dy MD SRF 163.52

613 | Tsuneo Ohashi | Director & MEO Maruti Suzuki 163.37

614 | Saumen Chakraborty | President Dr. Reddy’s Labs 163.35

615 | Keiichi Asai | Director & MEO Maruti Suzuki 163.12

616 | Shuji Oishi | Director & MEO Maruti Suzuki 162.63

617 | Mukund Rajan | Ex-MD Tata Teleservices 162.61

618 | Giv K. Brantenberg | CTO Heidelberg Cements 162.48

619 | T.T. Srinivasaraghavan | MD Sundaram Finance 162.28

620 | Joy Chakraborthy | CRO Zee Entertainment 161.84

621 | Rakesh Bhartia | CEO Bajaj Hindusthan * 161.81

622 | Madhu Kannan | MD & CEO BSE 161.59

623 | C.R. Gupte | MD Nocil 161.32

624 | Edgar Heinrich | VP Bajaj Auto 161.01

625 | R.C. Maheshwari | Sr Manager Bajaj Auto 160.81

626 | R.V. Kanoria | CMD Kanoria Chemicals 160.72

627 | B.L. Jain | WTD Century Textiles 160.71

628 | N. Srinath | MD & CEO Tata Communications 160.32

629 | Michael V. Robin | Head Sesa Goa 160.00

630 | Ravi Ramu | WTD Puravankara Projects 159.93

631 | Ravindra Kansal | President & CEO Punj Lloyd 159.66

632 | Arun V. Karambelkar | Group EVP HCC 158.76

633 | Wolf-Ruediger Krahnert | Group Leader BASF 158.47

634 | Vineet Agrawal | President Wipro 158.35

635 | S. Ravichandran | MD TTK Prestige 158.16

636 | Subhrakant Panda | MD Indian Metals & Ferro Alloys 157.82

637 | Yuri Jain | VP HUL 157.68

638 | Paul C. Birch | Group President Punj Lloyd 157.47

639 | S. Ramakrishnan | VP Siemens * 157.20

640 | Atul Jain | President & CEO Punj Lloyd 157.01

641 | Jitendra Munot | Jt MD ZF Steering Gear 156.82

642 | Naresh Takkar | MD ICRA 156.82

643 | Arvind Parakh | Director JSL 156.36

644 | Madhavan Menon | MD Thomas Cook ** 156.22

645 | B. Panda | Chairman Indian Metals & Ferro Alloys 156.19

646 | Satinder Singh Rekhi | CMD R Systems Int’l ** 155.87

647 | D.S. Kulkarni | CMD D.S. Kulkarni Developers 155.75

648 | B. Ramaswamy | MD & President Sonata Software 155.74

649 | Aditya Jain | Group EVP HCC 155.54

650 | Marco Tombari | Project Director Punj Lloyd 155.21

501-650

Page 15: Route to the Top-Highest-Paid Executives

u 68 u

u

Rank | Name | Designation Company Salary Rank | Name | Designation Company Salary Rank | Name | Designation Company Salary

In ` lakh

B u s i n e s s i n d i a u december 27, 2010–January 9, 2011The Highest Paid Executives

u 68 uu

* Sept Year End; ** Dec Year End; $ Nov Year End; # June Year End

651 | Upinder Zutshi | MD Infinite 154.75

652 | Hemant Bakshi | ED HUL 154.53

653 | Ninad Deshpanday | President Lupin Pharma 154.51

654 | Franz Zeller | SVP & COO The Indian Hotels 154.31

655 | Karan Thapar | Chairman Greaves Cotton # 154.30

656 | Arun P. Patel | VC Sintex Inds 154.18

657 | S.S. Lalbhai | CMD Atul 154.05

658 | Kjell Bogvad | Director SKF India ** 154.01

659 | Sachin Chhabra | GM HUL 153.92

660 | Shyamsundar Bang | ED Jubilant Organosys 153.79

661 | P.K. Khurana | CMD Everest Kanto Cylinders 153.44

662 | Arun Gupta | Head GTL 153.38

663 | P.M.S. Prasad | ED Reliance Inds 153.00

664 | Dinesh B. Patel | Chairman Sintex Inds 152.93

665 | Shaleen Sharma | MD Gujarat Gas 152.73

666 | M.S. Arora | MD Zenith Birla ( I ) 152.52

667 | Shikha Sharma | MD & CEO Axis Bank 152.17

668 | Pervez Umrigar | Ex-MD Gammon Infra 151.43

669 | Jai Hiremath | VC & MD Hikal 151.00

670 | M.L. Soneji | COO BSE 150.47

671 | Dilip S. Shanghvi | CMD Sun Pharma 150.32

672 | B.S. Nagesh | VC Shoppers Stop 150.20

673 | Ashok P. Hinduja | Chairman Hinduja Ventures 150.00

674 | Tulsi R. Tanti | CMD Suzlon Energy 150.00

675 | Sudhir V. Valia | WTD Sun Pharma 149.89

676 | Amrit Thomas | EVP United Spirits 149.76

677 | Pratik Kumar | EVP Wipro 149.72

678 | Lewis W.S. Fellow | CFO Xerox India 149.53

679 | A.K. Chandaria | MD Aegis Logistics 149.51

680 | R.K. Chandaria | VC & MD Aegis Logistics 149.50

681 | Anand Agarwal | WTD & CEO Sterlite Technologies 149.48

682 | Abhishek Khaitan | MD Radico Khaitan 149.47

683 | S.S.H. Rehman | WTD ITC 149.35

684 | Manish Tiwary | VP HUL 149.22

685 | Michael Jansen | LBU Manager ABB 149.07

686 | Venkat Ramaswamy | WTD Edelweiss 148.59

687 | Isacsson Goran | Head ABB 148.42

688 | R.N. Mutreja | Head HUL 147.97

689 | Dieter Polaski | Plant Manager Federal-Mogul Goetze India 147.50

690 | Baijayant Panda | VC Indian Metals & Ferro Alloys 147.48

691 | Yogesh C. Munjal | MD Munjal Showa ( I) 147.30

692 | Rajiv C. Mody | CMD Sasken Comm Tech 147.09

693 | Rajeeva R. Sinha | WTD Mundra Port & SEZ 147.00

694 | R. Kriplani | COO Castrol ** 146.81

695 | Debjit Rudra | VP HUL 146.65

696 | R.C. Surana | ED & CEO HEG 146.03

697 | K.G. Mohan | VP HUL 145.84

698 | D.N. Sehgal | ED PSL 145.80

699 | R.K. Bahri | ED PSL 145.80

700 | Kamal Oswal | VC & MD Nahar Ind Enterprises 145.49

701 | G.I.K. Reddy | MD Taj GVK Hotels 144.85

702 | Ravi K. Sheth | ED GE Shipping 144.84

703 | S. Malekar | ED Castrol ** 144.67

704 | Shaukat Ali Mir | EVP & COO Voltas 144.50

705 | Prakash K. Thakur | VC Jyoti Structures 144.40

706 | Santosh V. Nayak | MD Jyoti Structures 144.30

707 | C.D. Pant | Regional Director Voltas 144.20

708 | Gulu L. Mirchandani | CMD MIRC Electronics 144.19

709 | Vinod Kashyap | Chairman B.L. Kashyap & Sons 144.11

710 | Vineet Kashyap | MD B.L. Kashyap & Sons 144.06

711 | Vikram Kashyap | Jt MD B.L. Kashyap & Sons 144.00

712 | Loren M. King III | Head Punj Lloyd 143.72

713 | Kaushik Chatterjee | COO United Spirits 143.53

714 | M.B. Kapadia | Sr ED GlaxoSmithKline Pharma ** 143.50

715 | J. Suresh | CEO Arvind Mills 143.36

716 | Ashutosh Agarwal | CSO Jubilant Organosys 143.14

717 | Robert Donald Scott | Director HUL 142.95

718 | V.G. Kumar | VP HUL 142.69

719 | Abhijit Rajan | CMD Gammon India 142.64

720 | Pradeep Shrivastava | President Bajaj Auto 142.45

721 | Harish Narula | President Lupin Pharma 142.42

722 | Jelle Rieske | Sr Director Philips Electronics 142.41

723 | Anurag Vashistha | Business Head GTL 142.39

724 | Robert A. Allen | President Punj Lloyd 142.30

725 | Sunil K. Chaturvedi | ED Bharat Forge 142.27

726 | Rajesh Jain | Jt MD Panacea Biotec 142.04

727 | V.K. Chhabria | Dy MD Finolex Cables 141.71

728 | Mahendra Agarwal | MD & CEO Gati 141.62

729 | Rajiv Verma | WTD & CEO HT Media 141.59

730 | G.R.K. Prasad | Director Nava Bharat Ventures 141.44

731 | M.R. Jaishankar | CMD Brigade Enterprises 141.44

732 | Sameer Manchanda | Jt MD IBN18 Broadcast 141.40

733 | R.V. Gumaste | MD Kirloskar Ferrous 141.31

734 | G. Chatterjee | Director Exide Inds 141.29

735 | Anil P. Goel | ED The Indian Hotels 141.20

736 | M.M. Mathur | ED PSL 141.04

737 | Sandeep Jain | Jt MD Panacea Biotec 140.99

738 | A.B. Lalvani | Head HUL 140.88

739 | A.K. Jain | ED Ipca Labs 140.49

740 | Madhav B. Shriram | WTD DCM Shriram Inds 140.40

741 | Kiran M. Shaw | CMD Biocon 140.40

742 | Leena Nair | ED HUL 140.20

743 | Parmod Yadav | CEO Jubilant Organosys 140.14

744 | Yudhisthir Khatau | VC & MD Varun Shipping Co 140.13

745 | Christopher J. Rodricks | MD Seamec 140.09

746 | L. Ramkumar | MD Tube Investments of India 139.80

747 | Desh D. Khetrapal | WTD Raymond 139.79

748 | Kailash S. Agarwal | MD Varun Inds 139.78

749 | Rajesh Kumar Srivastava | CEO Jubilant Organosys 139.68

750 | Satyendra Kumar | SVP Infosys 139.64

751 | Subhash Sethi | VC & MD SPML Infra 139.62

752 | R.K. Agrawal | GM HUL 139.23

753 | P.K. Kataky | Director Exide Ind 139.00

754 | Malay Mahadevia | WTD Mundra Port & SEZ 138.93

755 | Anil Sethi | Chairman SPML Infra 138.88

756 | Dinesh Sahara | MD Ruchi Soya Inds 138.39

757 | N.S.K. Reddy | ED Rain Commodities ** 138.36

758 | Alok Bhargava | ED IL&FS Investment 138.13

759 | Sushil Sethi | MD SPML Infra 138.08

760 | U. Ramadas Kamath | SVP Infosys 138.08

761 | S.S. Rao | WTD JSW Energy 138.00

762 | V.R. Kaundinya | MD Advanta India ** 137.82

763 | Rajiv Gandhi | Ex-Director Wockhardt 137.80

764 | Shome N. Danani | ED Bharat Bijlee 137.79

765 | Sudhanshu Vats | VP HUL 137.68

766 | D. Bharma | EVP EIH 137.62

767 | Koushik Chatterjee | Group CFO Tata Steel 137.25

768 | B.M. Bhanumurthy | SVP Wipro 137.06

769 | Krishnaswamy Ramkumar | ED ICICI Bank 136.81

770 | K. Prabhakar | Chief Apollo Tyres 136.80

771 | Naresh Gupta | President Lupin Pharma 136.70

772 | Arvind Thakur | CEO & Jt MD NIIT Tech 136.31

773 | Nandini Piramal | ED Piramal Healthcare 136.24

774 | N.R. Rajsekher | COO United Spirits 136.16

775 | Shobhana Ramachandran | MD TVS Srichakra 136.05

776 | Nrupender Rao | Chairman Pennar Inds 135.75

777 | Mona Agarwal | WTD Action Construction Equip 135.74

778 | Bharat K. Singh | Ex-MD Aditya Birla Nuvo 135.54

779 | J.A.J. Pereira | Director Grindwell Norton 135.38

780 | Abhaya Shankar | MD Hyderabad Inds 135.20

781 | G.K. Prasanna | SVP Wipro 135.15

782 | Mandeep Singh Sodhi | VP R Systems Int’l ** 135.11

783 | B.K. Agarwalla | Chairman & WTD Maithan Alloys 135.00

784 | Sunil Goel | Jt MD Omaxe 135.00

785 | Vinayak K. Purohit | ED Thomas Cook ** 134.84

786 | K. Shankaran | Director & Secretary TTK Prestige 134.78

787 | Onno Poortier | President Hotel Leelaventure 134.72

788 | C.N. Desai | Jt MD Apar Inds 134.71

789 | Nandita M. Gurjar | SVP Infosys 134.60

790 | Sudhir Jatia | Ex-MD VIP Inds 134.58

791 | P. Venkateswaran | Dy MD Aban Offshore 134.52

792 | V.P. Agarwal | CMD Prakash Inds 134.40

793 | Sunam Sarkar | CFO & WTD Apollo Tyres 134.20

794 | G.S. Sauhta | ED PSL 134.12

795 | Bernd Lohmann | Head Bayer CropScience 134.04

796 | Anand Shukla | CPO ACC ** 134.02

797 | Rajeev Anand | VC & MD Goodyear ** 133.74

798 | Shobinder Duggal | Director Nestle ** 133.67

799 | Ramit Sethi | SVP Wipro 133.65

800 | V. Kannan | GM HUL 133.63

651-800

Page 16: Route to the Top-Highest-Paid Executives

u 70 u

u

In ` lakh

B u s i n e s s i n d i a u december 27, 2010–January 9, 2011The Highest Paid Executives

Rank | Name | Designation Company SalaryRank | Name | Designation Company SalaryRank | Name | Designation Company Salary

* Sept Year End; ** Dec Year End; $ Nov Year End; # June Year End

801 | Kushal N. Desai | MD Apar Inds 133.59

802 | Pravir Vohra | GCTO ICICI Bank 133.55

803 | J.V. Ramamurthy | WTD & COO HCL Info # 133.38

804 | Praveen K. Gupta | Director GSK Consumer Healthcare 133.21

805 | Chander Agarwal | ED TCI 133.12

806 | Akhilesh Joshi | COO & WTD Hindustan Zinc 133.03

807 | L.K. Poddar | MD Gontermann-Peipers ( I ) 132.64

808 | Sandeep Bakhshi | DMD ICICI Bank 132.63

809 | Ramesh Swaminathan | President Lupin Pharma 132.58

810 | Sunil Sethy | MD Binani Inds 132.53

811 | Sanjeev Bikhchandani | MD & CEO Info Edge ( I ) 132.40

812 | Sanjeev Kumar Jain | MD Parsvnath Developers 132.40

813 | Ekta Kapoor | Jt MD Balaji Telefilms 132.31

814 | Nalini Gupta | President Thomas Cook ** 132.27

815 | M. Thimmaraja | Jt MD The Andhra Sugars 132.22

816 | V.S. Sitaram | COO Dabur 132.20

817 | Hardev Singh Kohli | ED Reliance Inds 132.00

818 | Niranjan Kumar Gupta | Head HUL 131.77

819 | Deepinder Singh Bedi | ED Tulip Telecom 131.70

820 | M. Narendranath | Jt MD The Andhra Sugars 131.69

821 | A.N. Parekh | WTD Pidilite 131.57

822 | R.K. Baheti | Director & President Alembic 131.50

823 | P.N. Chowdary | Jt MD The Andhra Sugars 131.26

824 | N.P. Ghuwalewala | WTD Ambuja Cements ** 131.22

825 | Kapil Wadhwan | CMD DHFL 131.20

826 | P. Subramanian | CMD Shanthi Gears 131.06

827 | Govind Sachdev | President Puravankara Projects 130.78

828 | Omprakash Singh | Head GTL 130.64

829 | U. Schmid | Gen Commissioning Mgr Siemens * 130.53

830 | Kazuhiro Nishioka | Jt MD Munjal Showa 130.52

831 | Saher P. Pestonji | Sr Operator The Indian Hotels 130.10

832 | H.R. Binod | SVP Infosys 130.09

833 | Peter Miller | Sr Manager Federal-Mogul Goetze India 130.07

834 | Kishore K. Avarsekar | CMD Unity Infraprojects 130.00

835 | Soli C. Engineer | ED Great Offshore 129.80

836 | Anandh Balasundaram | MD AstraZenca ** 129.74

837 | Shantanu Khosla | MD Gillette ( I ) # 129.65

838 | Pankaj Kulkarni | CEO JSW Steel 129.53

839 | Vivek Sirohi | Resource Director HUL 129.12

840 | P.R. Rathi | VC & MD Sudarshan Chem 128.94

841 | Karamjit Singh | Head BASF 128.94

842 | P. Achuta Ramayya | ED The Andhra Sugars 128.79

843 | Ashish Soparkar | MD Meghmani Organics 128.75

844 | Jayanti M. Patel | Chairman Meghmani Organics 128.75

845 | Natwarlal M. Patel | MD Meghmani Organics 128.75

846 | F. Ferraris | VP Bata India ** 128.73

847 | C. Bhaktavatsala Rao | Ex-Dy MD Orchid Chem & Pharma 128.70

848 | Rana Kapoor | MD & CEO Yes Bank 128.59

849 | S. Saha | WTD Eveready 128.54

850 | R. Venkataraman | ED India Infoline 128.25

851 | Trilochan S. Sahney | CMD NRB Bearings 127.85

852 | D. Sampath | VP Voltas 127.83

853 | N.M. Gupta | Advisor Sutlej Textiles & Inds 127.81

854 | Madhukar Dev | MD Tata Elxsi 127.77

855 | Shiv Prakash Mittal | Chairman Greenply Inds 127.76

856 | Ikuo Abe | Sr ED Lumax Inds 127.68

857 | Anil Sarin | MD Anant Raj Inds 127.68

858 | Tarun Sawhney | ED Triveni Engg & Inds * 127.68

859 | Hitesh Oberoi | Director & COO Info Edge ( I ) 127.67

860 | Rajeev Chopra | Executive Level I Philips Electronics 127.49

861 | Madhu Khatri | SVP Wipro 127.31

862 | Shradha Suri | MD Subros 127.24

863 | Saroj K. Datta | ED Jet Airways 127.18

864 | P. Rajendran | COO & WTD NIIT 126.85

865 | G.V. Krishna Reddy | CMD GVK Power & Infra 126.76

866 | Ashok Angne | Group Head GTL 126.69

867 | B. Venkatraman | SVP Peninsula Land 126.68

868 | A.D. Baijal | Group Director Tata Steel 126.41

869 | Vijay J. Mansukhani | MD MIRC Electronics 126.03

870 | Thomas M. Reed | Project Director Punj Lloyd 125.93

871 | Antonio H. Waszyk | CMD Nestle ** 125.91

872 | Sanjeev Mansotra | CMD Core Projects & Tech 125.76

873 | Anju Munjal | WTD Munjal Auto 125.35

874 | Sudhir Munjal | MD Munjal Auto 125.35

875 | Srikantan Moorthy | VP Infosys 125.10

876 | Sanjiv Goyal | CMD Nectar Lifesciences 125.05

877 | Sudhir Agarwal | CEO Wire & Wireless 125.00

878 | Vinod Juneja | MD Binani Metals 124.62

879 | Rajendra B. Darak | CFO United Phosphorus 124.61

880 | Sangita Singh | SVP Wipro 124.39

881 | Nikhil Sawhney | ED Triveni Engg & Inds * 124.31

882 | Neeraj Chandra | VP & COO Britannia Inds 124.28

883 | Rajesh Mittal | MD Greenply Inds 124.27

884 | Ramesh D. Poddar | VC & MD Siyaram’s 123.95

885 | Ashok Punj | MD PSL 123.95

886 | Raghavan Govindan | President NIIT 123.81

887 | Jalaj Dani | President Asian Paints 123.76

888 | Raman Kumar | MD Ador Welding 123.44

889 | Rupen P. Patel | MD Patel Engg 123.44

890 | Saurabh Mittal | Jt MD & CEO Greenply Inds 123.41

891 | K. Harishankar | Head HUL 123.35

892 | Manish Choksi | Chief Asian Paints 123.27

893 | K.R. Srivastava | COO United Phosphorus 123.23

894 | Myriam Sidibe | Lifebuoy Brand HUL 123.09

895 | Sharvil P. Patel | Dy MD Cadila Healthcare 123.00

896 | Ranjit Shahani | VC & MD Novartis 122.97

897 | Mahabir P. Jalan | Chairman & WTD Ramkrishna Forgings 122.94

898 | Hemant Kanoria | CMD SREI Infra Finance 122.64

899 | Abhijit Mukerji | ED The Indian Hotels 122.51

900 | Sonjoy Chatterjee | ED ICICI Bank 122.47

901 | Ram Prit Singh | Advisor to ED Tata Steel 122.21

902 | Pawan D. Poddar | Jt MD Siyaram’s 122.11

903 | K.L. Rathi | Chairman Sudarshan Chem 122.02

904 | Ganesh Kaskar | ED Prism Cement 122.00

905 | Jayakar Krishnamurthy | VC & MD Ucal Fuel 122.00

906 | K.B. Sankara Rao | EVP Dr. Reddy’s Labs 121.58

907 | Mohan A. Chandavarkar | CMD FDC 121.55

908 | C.K. Dhanuka | Chairman Dhunseri Petrochem & Tea 121.52

909 | Riju Jhunjhunwala | ED HEG 121.46

910 | W.A. Pereira | Director HUL 121.08

911 | Eric Vas | President Bajaj Auto 121.04

912 | S.K. Mittal | Director Exide Inds 121.00

913 | Shobhan Mittal | ED Greenply Inds 120.78

914 | A.N. Singh | MD & CEO Goodricke Group 120.66

915 | S. Sundaram | President Cosmo Films 120.50

916 | V.P. Sinkar | VP HUL 120.50

917 | S. V. Reddy | MD Sagar Cements 120.42

918 | Srikumar Menon | MD BOC India ** 120.18

919 | N.N. Tata | MD Trent 120.11

920 | J.C. Toshniwal | Business Head Ambuja Cements ** 120.05

921 | Balbir S. Uppal | CMD Lakshmi Energy & Foods * 120.00

922 | C.K. Baljee | MD Royal Orchid Hotels 120.00

923 | N. Krishnan | MD Deccan Chronicle Holdings 120.00

924 | S.K. Poddar | Chairman Gillette ( I ) # 120.00

925 | Vishal Lohia | WTD Indo Rama Synthetics 119.90

926 | M.H. Ashraff | Ex-MD Tata Coffee 119.51

927 | Suhas Joshi | MD JMC Projects ( I ) 119.49

928 | Aman Agrawal | VC Bombay Rayon Fashions 119.38

929 | Prashant Agrawal | MD Bombay Rayon Fashions 119.38

930 | Hemant Modi | VC & MD JMC Projects ( I ) 119.34

931 | Shaibal Sinha | Director Bata India ** 119.34

932 | Ashok K. Bansal | CMD Hanung Toys 119.25

933 | G. Schmidl | Supervisor Siemens * 119.12

934 | P. Govindarajan | GM HUL 119.07

935 | Rajiv A. Poddar | ED Balkrishna Inds 118.88

936 | Vishnu R. Dusad | MD & CEO Nucleus Software 118.83

937 | V.S. Rangan | ED HDFC 118.72

938 | Samir Jain | GM HUL 118.72

939 | Anurag P. Poddar | ED Balkrishna Inds 118.72

940 | Ananda Mukherjee | CEO Jubilant Organosys 118.58

941 | A.R. Ramakrishnan | WTD Essar Shipping 118.42

942 | Arun Churiwal | MD RSWM 118.25

943 | V.R. Vasudevan | Group Leader Infosys 118.21

944 | Rajesh Verma | EVP Kingfisher Airlines 118.15

945 | S.R. Lohokare | MD National Peroxide 118.10

946 | J.R. Sapre | WTD Kirloskar Brothers 118.08

947 | D.D. Rathi | WTD Grasim Inds 118.00

948 | Roop C. Sodani | CEO JSW Steel 117.88

949 | P.H. Valecha | Sr Executive Valecha Engg 117.67

950 | Prem Kumar Singhee | CMD Shiv-Vani Oil & Gas 117.57

801-950

Page 17: Route to the Top-Highest-Paid Executives

u 71 uu

Rank | Name | Designation Company Salary Rank | Name | Designation Company Salary Rank | Name | Designation Company Salary

In ` lakh

B u s i n e s s i n d i a u december 27, 2010–January 9, 2011 The Highest Paid Executives

951 | S.B. Dangayach | MD Sintex Inds 117.44

952 | Manoj Kumar Agarwal | MD Adhunik Metaliks 117.38

953 | M.R. Rao | COO SKS Microfinance 117.35

954 | Abhay Thite | President GTL 117.34

955 | A.L. Alagappan | Director Philips Electronics 117.23

956 | C.V.D. Prasad | Director Nava Bharat Ventures 117.04

957 | Mukund Sapre | ED IL&FS Transportation 117.01

958 | Ulrich Wolfram | Head Mahindra Holidays & Resorts 116.96

959 | C.G. Patankar | ED Kalyani Steels 116.83

960 | S.K. Khandelia | President Sutlej Textiles & Inds 116.83

961 | N. Sarkar | GM HUL 116.75

962 | Ranjit Singh | COO Polyplex Corp 116.69

963 | Sudhir Deoras | MD TRF 116.62

964 | Anand Sen | VP Tata Steel 116.50

965 | Gopal S. Jiwarajka | VC & MD Salora Int’l 116.42

966 | Rakesh Kapoor | MD BP Ergo 116.36

967 | Alok Saxena | WTD Elder Pharma 116.34

968 | G.C. Vasudeo | Director SI Group 115.62

969 | Anup Gawdi | Regional Head GTL 115.62

970 | R.B. Rathi | Director Sudarshan Chem 115.50

971 | U.H. Patel | Head HUL 115.41

972 | L. Lakshman | Chairman Rane Holdings 115.30

973 | N. Ajith Babu | VP HUL 115.17

974 | Ankit Miglani | Dy MD Uttam Galva Steels 115.00

975 | Anuj Miglani | MD Uttam Galva Steels 115.00

976 | Rajinder Miglani | Chairman Uttam Galva Steels 115.00

977 | Rajiv Kaul | President Hotel Leelaventure 115.00

978 | Sudhir B. Dole | SGM ICICI Bank 114.95

979 | Sushil Kapoor | President & CEO SRF 114.79

980 | Roop Salotra | President & CEO SRF 114.77

981 | S. A. Reddy | Jt MD Sagar Cements 114.65

982 | Sjoerd J.I. Drost | Director Philips Electronics 114.56

983 | Saroj Kumar Poddar | Chairman Texmaco 114.36

984 | N. Rao | VP Siemens * 114.29

985 | R. Schueler | GM Siemens * 114.02

986 | S.C. Sethi | WTD JK Tyres 114.01

987 | J.B.M. Reddy | ED Gayatri Projects 114.00

988 | R.K. Srivastava | WTD Kirloskar Brothers 113.99

989 | K.P. Chhabria | EVC Finolex Inds 113.92

990 | Subhash Bansal | WTD Gillette ( I ) # 113.84

991 | Soumitro Ghosh | SVP Wipro 113.74

992 | K. Ganesh | GM HUL 113.73

993 | S.K. Dharmadikari | EVP HCC 113.34

994 | Bhaskar Chakravarty | AVP Infosys 113.30

995 | Atsushi Ishii | ED Lumax Inds 113.22

996 | Arun Ashar | Director United Phosphorus 113.14

997 | Uday Kotak | VC & MD Kotak Mahindra Bank 113.05

998 | Amitava Ray | President Uflex 112.89

999 | C.P. Gangadharaiah | SVP Wipro 112.69

1000 | Dhanpal Jhaveri | WTD Future Capital Holdings 112.69

1001 | Paramjit Singh Gill | COO United Spirits 112.45

1002 | Durgesh Mehta | CFO Bombay Dyeing Mfg Co 112.28

1003 | Rajesh Kumar Lal | VP & CTO Britannia Inds 112.24

1004 | Ninad Karpe | MD & CEO Aptech 112.16

1005 | R. Wagner | EVP Siemens * 112.11

1006 | N. Rajaram | VP HUL 111.97

1007 | R. Weigel | Commercial Project Mgr Siemens * 111.92

1008 | A.K. Srivastava | Director Navin Fluorine Int’l 111.89

1009 | Ramesh Iyer | MD Mahindra Finance 111.86

1010 | Divakar Kaza | President Lupin Pharma 111.85

1011 | K. Sridharan | CFO Ashok Leyland 111.79

1012 | N. Mukherji | Director HUL 111.31

1013 | L.K. Badiga | CIO Wipro 111.30

1014 | Siddarth Singh | GM HUL 111.29

1015 | Nimesh Kampani | CMD JM Financial 111.26

1016 | Haritsingh Gohil | President GTL 111.25

1017 | R.R. Mandawewala | Director Welspun 111.20

1018 | Thalib Caffoor | Manager HUL 111.11

1019 | S.K. Agarwal | Chief Apollo Tyres 111.00

1020 | Sriram Srinivasan | SVP Wipro 110.94

1021 | A. Seelholf | Site Manager Siemens * 110.92

1022 | N.R. Acharyulu | EVP HCC 110.91

1023 | Arun Srinivas | GM HUL 110.87

1024 | Padam Singhee | Jt MD Shiv-Vani Oil & Gas 110.84

1025 | Anjan Bose | Sr Director Philips Electronics 110.81

1026 | Ramit Budhraja | Chief Executive ACC ** 110.59

1027 | Jatender Kumar Mehta | MD Omax Auto 110.55

1028 | Nandan M. Chandavarkar | Jt MD FDC 110.50

1029 | J.V. Ranga Raju | WTD Nagarjuna Construction 110.46

1030 | V. Shankar | MD & CEO Rallis India 110.16

1031 | Shobha Kapoor | MD Balaji Telefilms 110.12

1032 | Jatin Zala | VP GTL 110.09

1033 | Arun K. Rai | WTD Sesa Goa 110.00

1034 | Armin E. Kniele | Captain Kingfisher Airlines 109.90

1035 | B. Ramachandran | EVP L&T 109.90

1036 | Pranab Mody | President & WTD JB Chem & Pharma 109.84

1037 | Tulsidas Alai | Group Head GTL 109.80

1038 | Rajesh Sharma | VC & MD ION Exchange 109.67

1039 | D.C. Mehta | VC & MD Deepak Nitrite 109.56

1040 | Bharat P. Mehta | WTD JB Chem & Pharma 109.50

1041 | Sangita Reddy | ED Apollo Hospitals 109.44

1042 | Pramod Khera | Ex-MD Aptech 109.36

1043 | Dinesh Dua | CEO & Director Nectar Lifesciences 109.22

1044 | Marc Eyres | VP HUL 109.18

1045 | P.Z. Nicholas | Dean EIH 108.84

1046 | S. Deb | Chief Global Delivery Officer Wipro 108.80

1047 | G. Lakshmanan | Lead Principal Infosys 108.76

1048 | Srijit Rajappan | VP Wipro 108.70

1049 | Satish Dandekar | Project Director Voltas 108.61

1050 | Prashant Panday | ED & CEO ENIL 108.46

1051 | Hugo Sorbo Menilo | Pkg Devp Mgr HUL 108.27

1052 | Ashutosh Vaidya | Head Wipro 108.24

1053 | P.K. Markanday | Chief Executive Abhishek Inds 108.24

1054 | K.G. Joshi | Director Oil Country Tubular 108.24

1055 | Ashok Bhatia | VP R Systems Int’l ** 108.24

1056 | Pradeep Rane | President Alembic 108.07

1057 | Ness N. Wadia | Jt MD Bombay Dyeing 108.02

1058 | K. Jayaraman | MD & CEO Hathway Cable & Datacom 108.00

1059 | Samer Nagarajan | GM HUL 107.95

1060 | V. Ashok | WTD Essar Shipping, Ports & Log. 107.95

1061 | Abraham Joseph | President Bajaj Auto 107.89

1062 | N.S. Kannan | ED-CFO ICICI Bank 107.86

1063 | Lallan Giri | President & COO Panacea Biotec 107.74

1064 | Rohinton Screwvala | CMD UTV Software Comm 107.70

1065 | Varun K. Jha | VP Tata Steel 107.58

1066 | M.K. Tara | MD & CEO Andhra Pradesh Paper Mills 107.55

1067 | Sameer Sain | VC Future Capital Holdings 107.49

* Sept Year End; ** Dec Year End; $ Nov Year End; # June Year End

951-1067

Page 18: Route to the Top-Highest-Paid Executives

u 72 u

u

In ` lakh

B u s i n e s s i n d i a u december 27, 2010–January 9, 2011The Highest Paid Executives

Rank | Name | Designation Company SalaryRank | Name | Designation Company SalaryRank | Name | Designation Company Salary

1068 | Agnivesh Agarwal | WTD MALCO 107.20

1069 | Naseer Munjee + | WTD Tata Group 107.15

1070 | D. Hofmann | Engineer Siemens * 107.15

1071 | Shrikishan D. Poddar | ED Siyaram’s 107.11

1072 | Ashish R. Goenka | MD Suashish Diamonds 107.00

1073 | C. Berendsen | VP-EO Siemens * 106.75

1074 | S. Sree Kamal | Head HUL 106.67

1075 | S.D. Kakade | MD Navin Fluorine Int’l 106.40

1076 | Axel Mueller | Manager BASF 106.40

1077 | V.C. Nannapaneni | CMD Natco Pharma 106.08

1078 | A.S. Ramchander | Ex-ED Castrol ** 106.02

1079 | G. Ravishankar | MD & CEO Geometric 105.86

1080 | R.N. Raju | WTD Nagarjuna Construction 105.85

1081 | R.B. Kabra | President HSIL 105.83

1082 | Vijaylaxmi A. Poddar | ED Siyaram’s 105.74

1083 | Vilas M. Dholye | EVP Dr. Reddy’s Labs 105.70

1084 | Anil Kapoor | MD Chambal Fert & Chem 105.56

1085 | B.R. Nahar | CEO & ED Birla Corporation 105.55

1086 | P. Pradhan | Head HUL 105.47

1087 | H.V. Kanoria | CMD Cheviot 105.39

1088 | A. Mittal | Manager HUL 105.37

1089 | Michiel Verheyen | Sr Director Philips Electronics 105.36

1090 | V.L. Ganesh | CFO & Director Hotel Leelaventure 105.31

1091 | Rajdeep Anand | President SRF 105.16

1092 | N.J. Rathi | Director & Co Sec Sudarshan Chem 105.15

1093 | U.S. Oberoi | Chief & WTD Apollo Tyres 105.00

1094 | V. Subramanian | VP Infosys 104.86

1095 | R.K. Jain | President Uflex 104.85

1096 | Milan Mehta | VC & MD Precision Wires India 104.76

1097 | U.K. Chatterjee | Manager HUL 104.69

1098 | Gajapathi Muthuvel | AVP Infosys 104.65

1099 | Jayant Acharya | Director JSW Steel 104.43

1100 | V. Arvind | SVP GTL 104.43

1101 | A.P.S. Sandhu | COO Aban Offshore 104.42

1102 | K. Sawada | GM Lumax Inds 104.42

1103 | Marwan Elba | Captain Kingfisher Airlines 104.42

1104 | Sanjay Johri | CEO Voltas 104.25

1105 | S.N. Toshniwal | Business Head Ambuja Cements ** 103.99

1106 | Abanindra K. Misra | VP Tata Steel 103.83

1107 | R. Raghuraman | GM HUL 103.83

1108 | Ashok Malhotra | CMD Panchmahal Steel 103.73

1109 | R.L. Toshniwal | CMD Banswara Syntex 103.67

1110 | Satish G. Joshi | Head GTL 103.65

1111 | Prabhakar Dev | MD & CEO Greaves Cotton # 103.51

1112 | Sameer Hiremath | Dy MD Hikal 103.40

1113 | Ronald Nagar | SVP Kingfisher Airlines 103.29

1114 | Prateek Aggarwal | CFO Hexaware Tech ** 103.23

1115 | R.Y. Vaidya | Chief Executive BASF 103.12

1116 | Ravinder Mohan | Chief Executive ACC ** 103.03

1117 | G.V. Subramanyam | VP Infosys 103.00* Sept Year End; ** Dec Year End; $ Nov Year End; # June Year End; + Naseer Munjee Salary from Tata Motors & Tata Chemicals

1118 | Rafael Girotto | Country Manager Bayer CropScience 102.83

1119 | H.H. Kamping | VP NRB Bearings 102.83

1120 | Ashok Patni | NED Patni Computers 102.68

1121 | Navratan Dugar | Dy President United Spirits 102.51

1122 | R.H. Valecha | Director Valecha Engg 102.49

1123 | Arun Goyal | CFO Abhishek Inds 102.27

1124 | Stanley Hibbitt | Project Director Voltas 102.17

1125 | Arun Khorana | EVP Blue Star 102.13

1126 | Anil Kumar Kush | CE United Spirits 102.11

1127 | M. Hermsdorf | Mechanical Engg Siemens * 102.05

1128 | Mark A. Petit | ED Xerox India 102.01

1129 | Ishwar Chand Agarwal | CMD Genus Power Infra 102.00

1130 | V.G. Dheeshjith | VP Infosys 101.96

1131 | Gajendra Patni | NED Patni Computers 101.93

1132 | Prakash P. Chhabria | MD Finolex Inds 101.90

1133 | James Eliot Shapiro | Head BSE 101.70

1134 | S. Srikanth | Head HUL 101.30

1135 | S. Ramakrishnan | ED Tata Power 101.24

1136 | Dinesh Krishnaswamy | Director Infosys 101.03

1137 | S. Gopalakrishnan | MD & CEO Infosys 101.03

1138 | K. Sudarshan | Manager HUL 100.89

1139 | Sukanta Kumar Roy | COO GTL 100.84

1140 | Amit Kaura | VP Punj Lloyd 100.73

1141 | Shreyas K. Doshi | CMD Shrenuj 100.58

1142 | Raman R. Shankar | SVP L&T 100.46

1143 | P. Srikar Reddy | EVP & COO Sonata Software 100.17

1144 | K. Suryaprakash | VP Infosys 100.16

1145 | Qimat Rai Gupta | CMD Havells 100.15

1146 | Homi Khusrokhan | Ex-MD Tata Chemicals 100.00

1147 | K.P. Ramasamy | Chairman KPR Mills 100.00

1148 | K.P.D. Sigamani | MD KPR Mills 100.00

1149 | P. Natraj | MD KPR Mills 100.00

1150 | Jugal K. Tandon | Director JSW Steel 99.87

1151 | S. Sidhwani | Sr Manager Voltas 99.84

1152 | Neeraj Agrawal | President Jubilant Organosys 99.84

1153 | Sanjeev Kumar | Jt MD PVR 99.84

1154 | Anup Bhat | ED Ashok Leyland 99.82

1155 | A.V. Rao | Chief Ambuja Cements ** 99.70

1156 | N. Sivaraman | SVP L&T 99.65

1157 | Tanmay Kumar Ganguly | MD Vesuvius India ** 99.51

1158 | Ian West | Sr Project Director Voltas 99.48

1159 | S.M. Patel | Chairman ABC Bearings 99.48

1160 | J.N. Cooper | Director Heidelberg Cements 99.42

1161 | Sriram Yogi | Head L&T 99.34

1162 | Ashok A. Chandavarkar | ED FDC 99.32

1163 | Vasileios Vassos | Captain Kingfisher Airlines 99.32

1164 | R. Subramanian | Director GSK Consumer Healthcare 99.28

1165 | Arindam Das | Principal Infosys 99.28

1166 | M. Votteler | Chief Manager Siemens * 99.23

1167 | Avinash Pandit | President Blue Star 99.07

1168 | Alok Ghosh | EVP Lupin Pharma 98.95

1169 | Subir Bose | MD Berger Paints 98.92

1170 | Sanjeev Lamba | Director Zee Entertainment 98.92

1171 | Yash Mahajan | MD Swaraj Mazda 98.89

1172 | S.K. Bandyopadhyay | ED Vesuvius India ** 98.69

1173 | Prabir Kumar Jha | SVP Dr. Reddy’s Labs 98.64

1174 | G.P. Goenka | Chairman & WTD Star Paper Mills 98.57

1175 | Anindya Sircar | GM Biocon 98.53

1176 | Suneet Maheshwari | Head L&T 98.52

1177 | Amitabh Jaipuria | MD Monsanto India 98.51

1178 | Pankaj Gupta | GM HUL 98.38

1179 | A. Harisha Bhat | Dy President United Spirits 98.37

1180 | N.S. Bijlani | Director HUL 98.17

1181 | Leonard V. Loots | Tunneling Foreman HCC 98.07

1182 | Richa Tripathi | VP Wipro 98.03

1183 | K.C. Khona | VP Bombay Dyeing 97.97

1184 | Harsta Johan | Head ABB 97.88

1185 | S.C. Bhargava | SVP L&T 97.74

1186 | J. Ramesh | EVP Nava Bharat Ventures 97.74

1187 | V. Mahadevan | MD Hinduja Foundries 97.72

1188 | V. Shashikant | EVP United Breweries Holdings 97.60

1189 | Ajay Khanna | President Jubilant Organosys 97.59

1190 | Sunil Tolani | GM HUL 97.50

1191 | Vishnubhai Patel | CMD Sadbhav Engg 97.50

1192 | J.N. Amrolia | ED Ashok Leyland 97.44

1193 | K.E. Ranganathan | Exec EID Parry 97.34

1194 | Kavitha Dutt Chitturi | ED KCP 97.32

1195 | V. Gandhi | Director KCP 97.32

1196 | Rajesh H. Asher | SVP JSW Steel 97.29

1197 | P.B. Kulkarni | WTD Ambuja Cements ** 97.28

1198 | K. Srinivas | VP Bajaj Auto 97.27

1199 | Srinivas Phatak | GM HUL 97.25

1200 | Duleepkumar D. Jo | Captain Kingfisher Airlines 97.07

1201 | Kevin D’sa | VP Bajaj Auto 97.05

1202 | Vijay Chandok | SGM ICICI Bank 97.04

1203 | Pirojsha Godrej | ED Godrej Properties 97.04

1204 | Sanjay Purohit | VP Infosys 96.87

1205 | Themiya Abeywickrama | Captain Kingfisher Airlines 96.82

1206 | A.B. Advani | Chairman Ador Welding 96.81

1207 | Hameed Huq | MD Tata Coffee 96.76

1208 | T. Berger | Site Manager Siemens * 96.73

1209 | K. Raghunandan | MD EID Parry 96.69

1210 | Naresh Jalan | MD Ramkrishna Forgings 96.60

1211 | A.C. Mehta | MD Deepak Nitrite 96.54

1212 | G.R. Gogia | Director Parsvnath Developers 96.40

1213 | Rajeev Jain | Director Parsvnath Developers 96.40

1214 | Andrew Horne | MD Xerox India 96.35

1215 | S. Nagarajan | VP Philips Electronics 96.31

1216 | Alok Mehta | VP AstraZenca ** 96.30

1217 | S. Sreekanth Reddy | ED Sagar Cements 96.27

1068-1217

Page 19: Route to the Top-Highest-Paid Executives

u 74 u

u

Rank | Name | Designation Company Salary Rank | Name | Designation Company Salary Rank | Name | Designation Company Salary

In ` lakh

B u s i n e s s i n d i a u december 27, 2010–January 9, 2011The Highest Paid Executives

1218 | T.K. Sibal | Sr EVP EIH 96.25

1219 | Ravi Toshniwal | Jt MD Banswara Syntex 96.21

1220 | J. Tyroller | Manager Siemens * 96.18

1221 | Gertjan Ijntema | Director Philips Electronics 96.18

1222 | P. Nagarajan | CFO Coromandel Int’l 96.06

1223 | Aditya Vij | President Punj Lloyd 96.01

1224 | D. Neuner | Head Siemens * 95.96

1225 | Srinivas Acharya | Dy MD Sundaram Finance 95.86

1226 | Rakesh Mehra | WTD Banswara Syntex 95.78

1227 | Navinder Pall Puri | VP Kingfisher Airlines 95.73

1228 | A.P. Parigi | Ex-MD ENIL 95.71

1229 | Chris Newton | MD BASF 95.67

1230 | Girish G. Vaidya | SVP Infosys 95.63

1231 | Ram Swaroop Nakra | MD ABG Shipyard 95.54

1232 | Priyavrat Bhartia | WTD HT Media 95.50

1233 | Priya Nair | GM HUL 95.50

1234 | S.D. Shibulal | COO & Director Infosys 95.48

1235 | Urrshila Kerkar | ED Cox & Kings 95.43

1236 | M.S. Krishnamoorthy | SVP L&T 95.41

1237 | Dipesh K. Shroff | MD Excel Crop Care 95.29

1238 | John Joseph | EVP Oracle Financial Services 95.24

1239 | S.C. Sachdeva | Head ACC ** 95.24

1240 | A. Krishnamoorthy | VP Infosys 95.21

1241 | S. Sridhar | CEO Bajaj Auto 95.20

1242 | Arvind Rao | CMD OnMobile Global 95.20

1243 | Srinandan Sundaram | Century Head HUL 95.18

1244 | Jaideep Wadhwa | MD Ingersoll Rand 95.14

1245 | B. Sundaram | VP Infosys 94.72

1246 | P.K. Mohamed | Chief Apollo Tyres 94.70

1247 | Sudhir Nayar | GM HUL 94.66

1248 | P.V. Srinivasan | SVP Wipro 94.59

1249 | Umang Vohra | SVP & CFO Dr. Reddy’s Labs 94.52

1250 | Daljeet Singh Ghai | Chief Executive ACC ** 94.45

1251 | Raja R. Macha | EVP & COO Geometric 94.41

1252 | Vikram Surendran | GM HUL 94.41

1253 | Mohan Bhandari | CMD Bilcare Research 94.40

1254 | S.E. Tandale | ED Bharat Forge 94.29

1255 | Cheryl Pinto | WTD Glenmark Pharma 94.09

1256 | Cedric Vaz | EVP United Breweries 94.04

1257 | Anshul Asawa | GM HUL 93.96

1258 | P.K. Chandra | President McNally Bharat Engg 93.93

1259 | Sushil Bhatter | ED Binani Inds 93.89

1260 | R.D. Mavinakere | VP Infosys 93.77

1261 | R. Naresh | VC TVS Srichakra 93.57

1262 | P.L. Sirsamkar | President Uflex 93.50

1263 | O’Neil Nalavadi | Director R Systems Int’l ** 93.42

1264 | M. Chandru Kalro | EVP TTK Prestige 93.35

1265 | Andrea Ceretta | GM BASF 93.35

1266 | Shamit Bhartia | WTD HT Media 93.33

1267 | A.K. Misra | SVP The Indian Hotels 93.17

1268 | Sarthak Behuria | Ex-Chairman Indian Oil Corp 93.05

1269 | Ravi Keswani | President Punj Lloyd 93.02

1270 | S.C. Agarwalla | MD Maithan Alloys 93.00

1271 | Holmsten Matti | Manager ABB 92.96

1272 | V.P. Sharma | President Punj Lloyd 92.95

1273 | P. Sasindran | COO JSW Steel 92.94

1274 | Tapan Mitra | Chief Apollo Tyres 92.90

1275 | Ambarish Raghuvanshi | Director Info Edge ( I ) 92.83

1276 | Ashoke Roy | Dy President United Breweries Holdings 92.70

1277 | R.L. Shenoy | ED Merck 92.60

1278 | Deepak Tandon | Director Kesoram Inds 92.55

1279 | Sudhir Reddy | VP Mindtree 92.54

1280 | Shravan Shroff | MD Fame Group 92.50

1281 | K. Shivkumar | ED Merck 92.48

1282 | Atul Pasricha | Group CFO Punj Lloyd 92.38

1283 | A.R. Chandrasekharan | ED Ashok Leyland 92.20

1284 | Bharat Ranga | COO Zee Entertainment 92.20

1285 | J. Guder | System Administrator Siemens * 91.96

1286 | Kochouseph Chittilappilly | MD V Guard Inds 91.95

1287 | Niels P. Ternving | Captain Kingfisher Airlines 91.94

1288 | Z. Siamwala | COO EIH 91.93

1289 | David Samson | VP Infosys 91.90

1290 | Harshbeena S. Zaveri | President NRB Bearings 91.83

1291 | B. Sen | VP HUL 91.83

1292 | Arun Kumar Mukherji | WTD Jindal Steel & Power 91.64

1293 | Cartikeya Reddy | SVP Dr. Reddy’s Labs 91.62

1294 | Sanjiv Chatterjee | Head HUL 91.62

1295 | Satish M. Pendse | CIO HCC 91.58

1296 | Balvantsinh C. Rajput | CMD Gokul Refoils & Solvent 91.57

1297 | Kanubhai J. Thakkar | MD Gokul Refoils & Solvent 91.57

1298 | Dolatsinh P. Chavda | President Arvind Mills 91.53

1299 | K. Vikram | EA HUL 91.48

1300 | Ravi Langer | AVP GTL 91.47

1301 | Tuhin K. Mukherjee | ED JSW Steel 91.46

1302 | Abhay Kulkarni | VP Infosys 91.38

1303 | L. Shivakumar | Sr Group VP ICRA 91.34

1304 | Anurag Behar | Chief Executive Wipro 91.31

1305 | Sudhir Goyal | Exec Dy President United Breweries Holdings 91.27

1306 | K.G. Ananthakrishnan | MD Fulford ( I ) 90.95

1307 | S. Balasubramanian | ED Ashok Leyland 90.88

1308 | Akhil Saxena | GM HUL 90.87

1309 | N.R. Munjal | VC & MD Ind-Swift Labs 90.75

1310 | V.K. Mehta | Ex-MD Ind-Swift Labs 90.75

1311 | Adesh Gupta | WTD & CFO Grasim Inds 90.54

1312 | M. Natraj | ED Ashok Leyland 90.53

1313 | A. Raghunathan | EVP United Spirits 90.49

1314 | Farouk Irani | MD First Leasing Co ( I ) 90.48

1315 | Vijay Sharma | Jt MD & CEO JSW Steel 90.40

1316 | Venu Krishnan | Dy MD Hotel Leelaventure 90.40

1317 | Ganesh Gopalakrishnan | VP Infosys 90.39

1318 | Neeraj Singal | VC & MD Bhushan Steel 90.37

1319 | Vijay Kumar Thadani | CEO & WTD NIIT 90.37

1320 | Rajat Mathur | CSOO Wipro 90.35

1321 | K.N. Patel | Jt MD & CEO Jindal South West Holdings 90.32

1322 | Prabir Kumar Ghosh | President McNally Bharat Engg 90.32

1323 | Sunil Nayak | CFO ACC ** 90.30

1324 | Srikanth Krishna | Sr Project Mgr Infosys 90.30

1325 | N.H. Hingorani | VP Bajaj Auto 90.26

1326 | N.B. Gad | Chief Executive Panacea Biotec 90.14

1327 | Shailini Bhupal | ED Taj GVK Hotels 90.09

1328 | Rajendra S. Pawar | CMD NIIT 90.06

1329 | Hellsten Juha | Quality Director ABB 90.01

1330 | Arvind Walia | MD Gabriel India 90.00

1331 | M.L. Mittal | ED Welspun 90.00

1332 | Deepak Dheer | MD Mahindra Forgings 89.96

1333 | K. Srinivasan | MD Carborundum Universal 89.90

1334 | Anil Khanna | MD Blue Dart 89.82

1335 | S. Ravikumar | VP Bajaj Auto 89.81

1336 | P.B. Balaji | VP HUL 89.80

1337 | Ashish Puravankara | WTD Puravankara Projects 89.63

1338 | Niraj Vedwa | COO Nucleus Software 89.59

1339 | N. Krishnamohan | Chief Executive BASF 89.54

1340 | Nandini Verma | EVP United Spirits 89.45

1341 | Amrit Raj Maharjan | Captain Kingfisher Airlines 89.43

1342 | K.V. Ramarathnam | MD Mahindra Ugine Steel 89.33

1343 | G.V.S. Ramesh | JGM ICICI Bank 89.27

1344 | K.T.K. Deshika | Director JSW Steel 89.27

1345 | Eugene Valles | VP GTL 89.19

1346 | Ajay S. Mittal | CMD Arshiya Int’l 89.15

1347 | A.K. Jain | CFO Cosmo Films 89.12

1348 | N. Govindarajan | MD & CEO Shasun Chem & Drugs 89.05

1349 | Anjan D. Ghosh | Sr Group VP ICRA 88.95

1350 | N.D. Mistry | Head HUL 88.84

1351 | H.S. Tibb | Director HUL 88.76

1352 | P.K. Kedia | Group President JSW Steel 88.66

1353 | Aditya Kowshik | ED Kirloskar Pneumatic 88.63

1354 | Atul Datey | Manager HUL 88.42

1355 | Sandip Jhunjhunwala | VC & MD REI Agro 88.40

1356 | Vivek Shanbhag | Business Partner HUL 88.32

1357 | Shailendra Bhandari | MD & CEO ING Vysya Bank 88.30

1358 | Mohit Batra | SGM ICICI Bank 88.28

1359 | K.V. Rehani | Chief Engg HUL 88.24

1360 | Gurpreet Singh Kohli | Director HUL 88.20

1361 | B. Madhusudhan Rao | VP Dr. Reddy’s Labs 88.19

1362 | Vivek Mathur | Sr Group VP ICRA 88.11

1363 | S. Bhaskaran | Sr Director Philips Electronics 87.93

1364 | P.K. Dutt | Chairman & CEO DIC India ** 87.92

1365 | Anand Padmanabhan | SVP Wipro 87.90

1366 | R.V. Ramanan | President Hexaware Tech ** 87.89

1367 | Rajendra Prasad | President & CFO SRF 87.83

* Sept Year End; ** Dec Year End; $ Nov Year End; # June Year End

1218-1367

Page 20: Route to the Top-Highest-Paid Executives

u 75 uu

Rank | Name | Designation Company Salary Rank | Name | Designation Company Salary Rank | Name | Designation Company Salary

In ` lakh

B u s i n e s s i n d i a u december 27, 2010–January 9, 2011 The Highest Paid Executives

1368 | Rajinder Malhan | ED Ashok Leyland 87.80

1369 | Shekhar Arora | ED Ashok Leyland 87.72

1370 | H.N.S. Nagaraj | SVP The Indian Hotels 87.71

1371 | Rakesh Sharma | Sr Director Philips Electronics 87.56

1372 | B.M. Udayashanker | ED Ashok Leyland 87.51

1373 | F. Hildebrand | MCE Siemens * 87.49

1374 | Vijay K. Mehta | CMD Clutch Auto 87.48

1375 | A. Balasubramanian | GM HUL 87.45

1376 | U. Zeller | Manager Siemens * 87.40

1377 | Esa Laukkanen | Manager ABB 87.39

1378 | R.L. Ravichandran | CEO Eicher Motors ** 87.34

1379 | A.D.A. Ratnam | Sr Director Philips Electronics 87.19

1380 | Ratnakar M. Gutte | CMD Sunil Hitech Engg 87.16

1381 | Jayanta Chatterjee | Sr Group VP ICRA 87.02

1382 | Gopal Munjal | MD & CEO Ind-Swift Labs 87.00

1383 | Himanshu Jain | ED Ind-Swift Labs 87.00

1384 | S.R. Mehta | Chairman Ind-Swift Labs 87.00

1385 | V.R. Mehta | Jt MD Ind-Swift Labs 87.00

1386 | Shailesh Ayyangar | MD Sanofi Aventis ** 86.90

1387 | Anil V. Vaidya | Sr Director Philips Electronics 86.81

1388 | D.K. Chokappa | Director HUL 86.72

1389 | V. Kuhne | Chief Manager Siemens * 86.71

1390 | Aman Mehta | Director TCS 86.70

1391 | Stephen Bonnie | Manager Voltas 86.66

1392 | J. Noronha | EVP United Breweries 86.51

1393 | Bomi M. Gagrat | ED Pfizer $ 86.48

1394 | B.K. Iyer | GM ICICI Bank 86.46

1395 | U. Haeger | Commissioning Expert Siemens * 86.43

1396 | Vivek Prakash | SVP United Spirits 86.31

1397 | V. Sundararajan | VP Mindtree 86.20

1398 | J. D. Gupta | Chief Commercial Officer ACC ** 86.09

1399 | S.A. Lalbhai | MD Atul 86.06

1400 | I.P. Suresh Menon | SVP United Spirits 86.03

1401 | Amit Pradhan | WTD Sesa Goa 86.00

1402 | Atul Kumar Rai | MD & CEO IFCI 85.99

1403 | Anil Kumar | President Jubilant Organosys 85.97

1404 | Rajiv Bansal | VP Infosys 85.90

1405 | S.R. Sundaresh | GM Biocon 85.81

1406 | Avinash Kumar Jain | ED Ashok Leyland 85.76

1407 | B. Jayaraman | VP Ingersoll Rand 85.73

1408 | B.B. Dave | Head HUL 85.71

1409 | N. Mohankrishnan | ED Ashok Leyland 85.70

1410 | U. Dasgupta | Head L&T 85.59

1411 | R. Geetha | IT Partner HUL 85.57

1412 | Andrew Hendrian | GM Hotel Leelaventure 85.57

1413 | Satish Kaura | CMD Samtel Color 85.53

1414 | Bhupendra Kiny | VP GTL 85.50

1415 | Saurabh Govil | SVP Wipro 85.50

1416 | Ralph D’Souza | GM Voltas 85.49

1417 | P.K. Maheshwari | ED Bharat Forge 85.37

1418 | Kalpesh Kikani | SGM ICICI Bank 85.28

1419 | D.A. Dsouza | Client Service Director HUL 85.24

1420 | R. Santhanam | Ex-MD Hindustan Motors 85.20

1421 | K.S. Arunkumar | IT Partner HUL 85.19

1422 | Ashwani Bhardwaj | MD Micro Inks ** 85.16

1423 | M. Cropp | Exec Chef EIH 85.06

1424 | R. Swaminathan | Director Jain Irrigation 85.02

1425 | Prakash Kulkarni | Chairman Gabriel India 85.00

1426 | Shahid Balwa | MD DB Realty 85.00

1427 | Vinod K. Goenka | MD DB Realty 85.00

1428 | Hiten V. Parekh | ED Nilkamal 84.85

1429 | Ganesh Natrajan | VC & MD Zensar Technologies 84.83

1430 | Tanmay Agarwal | Manager HUL 84.76

1431 | B.V.S. Rao | WTD 3M India 84.63

1432 | B. Madhivanan | SGM ICICI Bank 84.61

1433 | Anand I. Patel | ED Meghmani Organics 84.60

1434 | Ramesh M. Patel | ED Meghmani Organics 84.60

1435 | H. Herman | GM Siemens * 84.58

1436 | C. Spencer | Head Siemens * 84.56

1437 | A. Balaraman | VP Britannia Inds 84.55

1438 | Shekhar Jyoti | VP Videocon Inds * 84.45

1439 | P.K. Nigam | Head HUL 84.41

1440 | A. Krey | Engineer Siemens * 84.40

1441 | Laxmi N. Goel | MD Zee News 84.40

1442 | Om Narayan | VP Tata Steel 84.34

1443 | Balaji Rajagopalan | ED Xerox India 84.23

1444 | P.R. Ravi | President Carborundum Universal 84.23

1445 | Madhukar Mishra | MD Star Paper Mills 84.17

1446 | Srivats Ram | MD Wheels India 84.17

1447 | Deepak Thuse | Chief Executive BASF 84.14

1448 | Rajeev Takru | WTD McLeod Russel 84.09

1449 | Vishnu G. Bhat | VP Infosys 84.06

1450 | A. Bahadur | EVP EIH 84.04

1451 | Vinay Rao | AVP Infosys 84.04

1452 | Sunny Gaur | MD Jaiprakash Associates 84.01

1453 | Manish Kiri | MD Kiri Dyes & Chem 84.00

1454 | Pravin Kiri | Chairman Kiri Dyes & Chem 84.00

1455 | Rajeev Gupta | Chief Executive Abhishek Inds 84.00

1456 | S. Ram | Chairman Wheels India 83.95

1457 | T.N. Thakur | CMD PTC India 83.90

1458 | Prakash Malvankar | VP & COO Dolphin Offshore 83.84

1459 | R. Radhakrishna | Chief Sales Officer Mahindra Holidays & Resorts 83.79

1460 | Kamal Kishore Baheti | WTD McLeod Russel 83.75

1461 | J.L. Deshmukh | MD & CEO Walchandnagar Inds * 83.72

1462 | Sharad V. Parekh | MD Nilkamal 83.70

1463 | Ravi Kiran Aggarwal | Chairman Orbit Corporation 83.68

1464 | T.J. Heikkinen | Exec Chef EIH 83.65

1465 | Shaleen Toshniwal | WTD Banswara Syntex 83.57

1466 | Pranay Godha | ED Ipca Labs 83.52

1467 | Randeep Singh Jauhar | CEO & ED Jamna Auto Inds 83.52

1468 | Narsimha Rao Mannepalli | VP Infosys 83.39

1469 | T.T. Raghunathan | VC TTK Healthcare 83.34

1470 | Manish Sanghi | COO & Director Everest Inds 83.32

1471 | Ragavan Kannan | VP GMR Infra 83.22

1472 | Pradeep Singh Jauhar | COO & ED Jamna Auto Inds 83.20

1473 | Raju Thomas | CFO Britannia Inds 83.16

1474 | A. Wabner | Chief Manager Siemens * 83.08

1475 | R. Allenkirch | GT Siemens * 83.07

1476 | William Worsley | Superintendent Voltas 82.94

1477 | Atul Sinha | VP Britannia Inds 82.87

1478 | Ramesh Maheshwari | VC Texmaco 82.83

1479 | Tiago Muniz | NTR Processing Leader HUL 82.82

1480 | O. Gamard | Site Supervisor Siemens * 82.82

1481 | N.R. Varma | Project Director Voltas 82.82

1482 | S. Ramnath | Chief Executive BASF 82.80

1483 | Vikram Amaranath | VP Mindtree 82.80

1484 | Suresh Kumar | Tool Pusher Aban Offshore 82.77

* Sept Year End; ** Dec Year End; $ Nov Year End; # June Year End

1368-1484

Page 21: Route to the Top-Highest-Paid Executives

u 76 u

u

Rank | Name | Designation Company Salary Rank | Name | Designation Company Salary Rank | Name | Designation Company Salary

In ` lakh

B u s i n e s s i n d i a u december 27, 2010–January 9, 2011The Highest Paid Executives

1485 | Anand Sankaran | Chief Executive Wipro 82.77

1486 | Anil Chopra | Group Head Apollo Tyres 82.70

1487 | Mathew F. Barney | VP Infosys 82.65

1488 | Alok Agarwal | ED Binani Inds 82.64

1489 | A.D. Ioia | Maitre D’ EIH 82.60

1490 | S.B. Gadre | Chief Executive BASF 82.55

1491 | Rajesh Bhaskar | Head Jubilant Organosys 82.52

1492 | P. Subrahmanyam | SVP Wipro 82.51

1493 | Shreekant Somany | CMD Somany Cermaics 82.50

1494 | Sukhbir Puri | SVP Tilaknagar Inds 82.50

1495 | Charles M. Gardiner | VP Xerox India 82.42

1496 | Shaji Mathew | AVP Infosys 82.29

1497 | Lalit Kumar Jain | CMD Laxmi Precision Screws 82.20

1498 | Talmat A. Fermat | Captain Kingfisher Airlines 82.19

1499 | David Hurren | Commercial Director Voltas 82.09

1500 | Satyen Mamtora | Jt MD Transformers & Rectifiers ( I ) 82.07

1501 | A.S. Mohanty | WTD Glenmark Pharma 82.02

1502 | Asoka S. Iyer | Chief Apollo Tyres 82.00

1503 | R.C. Chandrasekhran | VP Bombay Dyeing 81.93

1504 | Shipla Kumar | SGM ICICI Bank 81.93

1505 | B. Thiagarajan | President Blue Star 81.87

1506 | Radhakrishnan Nair | Chief Tata Steel 81.85

1507 | S. Ravi Kumar | VP Infosys 81.84

1508 | Rajinder Sharma | President JSW Steel 81.79

1509 | G. Raj | EVP EIH 81.79

1510 | S. Sundararajan | SVP Oracle Financial Services 81.78

1511 | Shreesh R. Tiwari | Manager Infosys 81.67

1512 | R. Kuntner | Commissioning Engineer Siemens * 81.65

1513 | Nani R. Choksey | WTD Puravankara Projects 81.61

1514 | Don Carlu Fabiani | Captain Kingfisher Airlines 81.47

1515 | Ashok Bhandari | CFO Shree Cement 81.45

1516 | Anjan Chatterjee | GM HUL 81.41

1517 | Pradeep S. Shah | MD Manugraph 81.41

1518 | B. Vijayakumar | CMD LG Balakrishnan & Bros 81.40

1519 | Sanjay S. Shah | Vice CMD Manugraph 81.39

1520 | P. R. Binny | Lead Consultant Infosys 81.29

1521 | M.J. Kotwal | ED Tata Investment Corporation 81.29

1522 | Ashok Panjwani | MD Bombay Burmah Trading Corp 81.26

1523 | Stephen Ri St Pierre | Captain Kingfisher Airlines 81.23

1524 | L.S. Manay | Manager Voltas 81.17

1525 | Pradeep Kumar Gupta | VP Videocon Inds * 81.16

1526 | H.K. Kaul | Exec President Punj Lloyd 81.15

1527 | C.P. Gopalkrishnan | Dy MD Aban Offshore 81.06

1528 | Zarin Daruwala | SGM ICICI Bank 81.04

1529 | Darshan B. Makhey | VP Dr. Reddy’s Labs 81.01

1530 | R.J. Kampani | Advisor Ambuja Cements ** 81.00

1531 | N.K. Misra | Group Head Tata Steel 80.93

1532 | R. Viswanathan | GM Wipro 80.93

1533 | Sandeep Batra | GCO & CS ICICI Bank 80.82

1534 | Arjit Mukherjee | Head HUL 80.73

1535 | M.K. Chattopadhyaya | Group CFO Binani Inds 80.71

1536 | L.P. Aggarwal | CFO BSE 80.66

1537 | Harsh K. Jha | MD Tata Metaliks 80.61

1538 | Srinivas Pallia | SVP Wipro 80.54

1539 | Rishi Pardal | GM HUL 80.52

1540 | Georges T. Azar | Captain Kingfisher Airlines 80.47

1541 | Chandrachud Ritha | SVP Dr. Reddy’s Labs 80.44

1542 | Gul Raj Bhatia | Manager Wyeth $ 80.43

1543 | Rajan Nambiar | CEO Sobha Developers 80.36

1544 | Shekhar Patil | VP HCC 80.27

1545 | Partha Sengupta | VP Tata Steel 80.27

1546 | V.S. Venkataraman | SVP & CS United Spirits 80.25

1547 | G. Ramaseshan | Chief Executive BASF 80.18

1548 | Binay Kumar Singh | VP Tata Steel 80.18

1549 | Amit Nandi | GM Bajaj Auto 80.10

1550 | D. Ravichandar | CEO JSW Steel 80.03

1551 | R. Dinesh | VP Infosys 79.97

1552 | R. Erkelenz | Manager Siemens * 79.96

1553 | K. Nithyananda Reddy | MD Aurobindo Pharma 79.92

1554 | M. Sivakumaran | WTD Aurobindo Pharma 79.92

1555 | P.V. Ramprasad Reddy | Chairman Aurobindo Pharma 79.92

1556 | Rohit Tandon | GM HUL 79.87

1557 | P.D. Chaudhari | WTD Kansai Nerolac Paints 79.82

1558 | Himanshu Parikh | ED Gammon India 79.80

1559 | Vikas Arora | SVP GTL 79.78

1560 | Makarand S. Padalkar | CFO Oracle Financial Services 79.70

1561 | Stephen X. Braganza | Group Head GTL 79.69

1562 | T.D. Thandava Murthy | SVP Wipro 79.68

1563 | Anjan Choudhary | CTO BSE 79.66

1564 | Mayur Taday | Business Head GTL 79.60

1565 | V. Shankar | EVP Oracle Financial Services 79.56

1566 | Anju Bansal | WTD Hanung Toys 79.50

1567 | S. Pramanik | MD Gulf Oil Corp 79.50

1568 | Kshitij Kumar | Manager Infosys 79.44

1569 | K. Trautmann | Supervisor Siemens * 79.29

1570 | Manish V. Parekh | ED Nilkamal 79.29

1571 | B.P. Kalyani | ED Bharat Forge 79.22

1572 | Sanjeev Marwah | GM Kingfisher Airlines 79.16

1573 | N. Kishore | President Carborundum Universal 79.14

1574 | W.W. Heslop | Pilot Ashok Leyland 79.01

1575 | Suren Jain | MD & CFO Jaiprakash Power Ventures 78.99

1576 | Dinesh Kumar Jain | VC & MD Laxmi Precision Screws 78.91

1577 | Vijay Kumar Jain | Jt MD Laxmi Precision Screws 78.91

1578 | Anuj Kumar | Manager Infosys 78.88

1579 | Vinod Deshmukh | GM Voltas 78.88

1580 | P.M. Samvatsar | WTD Everest Kanto Cylinders 78.74

1581 | Narendra N. Pawar | Sr Manager Philips Electronics 78.72

1582 | Rajnikant Sabnavis | Director HUL 78.71

1583 | Usha Ramnani | ED Opto Circuits 78.71

1584 | Vinod Ramnani | CMD Opto Circuits 78.71

1585 | D. Arun Kumar | President HSIL 78.69

1586 | Rajan Varma | CFO Dabur 78.65

1587 | Harcharan Singh | Chief Executive Unichem 78.64

1588 | P.K.C.L. Singhee | President Shiv-Vani Oil & Gas 78.56

1589 | Rambhau R. Kenkare | President Thomas Cook ** 78.51

1590 | Maninder Juneja | SGM ICICI Bank 78.50

1591 | S. Raghavan | SVP L&T 78.44

1592 | M.P. Bade | GM Bajaj Auto 78.41

1593 | S. Vellanikaran | Reg Fin Controller Voltas 78.41

1594 | C. Chattaraj | SVP EIH 78.38

1595 | S. Dilli Raj | CFO SKS Microfinance 78.37

1596 | Bikramjit Ahluwalia | CMD Ahluwalia Contracts 78.23

1597 | G. Vivekanand | VC Visaka Inds 78.17

1598 | Praful R. Naik | ED Bilcare Research 78.17

1599 | S.K. Parik | Director Kesoram Inds 78.10

1600 | Armando R. Aguilar | Captain Kingfisher Airlines 78.00

1601 | Abhijit K. Avarsekar | VC & MD Unity Infraprojects 78.00

1602 | L. Kishorebabu | CFO Divi’s Labs 78.00

1603 | Lourde R. Joseph | GM Biocon 77.96

1604 | R.C. Sequeira | ED GlaxoSmithKline Pharma ** 77.95

1605 | Akshaya M. Kamath | ED Syngenta 77.95

1606 | Erwin H. Perez | Captain Kingfisher Airlines 77.88

1607 | Amit Gupta | VP Videocon Inds * 77.84

1608 | Manishi Dutt | VP Siemens * 77.81

1609 | Pranay Kothari | ED Polyplex Corp 77.78

1610 | Sergio Carrasco | Captain Kingfisher Airlines 77.78

1611 | Vinay Baporikar | VP GTL 77.77

1612 | Deven Buch | Head GTL 77.76

1613 | Srikanth Sundararajan | COO Presistent Systems 77.76

1614 | Tamir Kobrin | GM Hotel Leelaventure 77.74

1615 | A. Chabert | Manager Siemens * 77.72

1616 | Puneet Chandra | VP Wipro 77.66

1617 | Nitin B. Vadia | SVP Lupin Pharma 77.66

1618 | N.B. Sohoni | Head HUL 77.63

1619 | Sumant B. Ram | President DCM 77.61

1620 | Majid Rahnavard | Manager Voltas 77.60

1621 | Anil Sachidanand | CEO DHFL 77.59

1622 | Fidahusein Y. Merchant | VP Bayer CropScience 77.55

1623 | M.R. Iyer | Chief Executive BASF 77.52

1624 | K.Y. Rao | Sr Director Philips Electronics 77.52

1625 | Raj Singh Tanwar | GM Punj Lloyd 77.47

1626 | Virendra Dhir | AGM ICICI Bank 77.47

1627 | R.R. Darak | President Ambuja Cements ** 77.45

1628 | V.R. Venkatesh | SVP Wipro 77.39

1629 | Sanjay Singh | Head Jubilant Organosys 77.34

1630 | Suresh Kumar | Chairman & CEO Jaiprakash Power Ventures 77.30

1631 | Manash Baruah | Manager HUL 77.29

1632 | K. Manivannan | President Consolidated Const Cons 77.24

1633 | Ashwani Kathuria | VP Mindtree 77.20

1634 | Rajiv Goel | CFO ISMT 77.19

* Sept Year End; ** Dec Year End; $ Nov Year End; # June Year End

1485-1634

Page 22: Route to the Top-Highest-Paid Executives

u 85 uu

Rank | Name | Designation Company Salary Rank | Name | Designation Company Salary Rank | Name | Designation Company Salary

In ` lakh

B u s i n e s s i n d i a u december 27, 2010–January 9, 2011 The Highest Paid Executives

1635 | Amrut Kumar Rath | VP Bajaj Auto 77.17

1636 | Raghupathi N. Cavale | VP Infosys 77.11

1637 | Paramjit Guron | Pilot JSW Steel 77.07

1638 | Vinay Kushwaha | ED Dabur 77.06

1639 | Henry Frame | Technician HCC 77.04

1640 | Debabrata Chakravorty | EVP Lupin Pharma 77.00

1641 | R. Ravimohan | ED Reliance Inds 77.00

1642 | M. Sridhar | VP Infosys 76.95

1643 | Srinivas Rampalli | Sr Project Mgr Infosys 76.94

1644 | P.M. Balakrishnan | Chief Executive BASF 76.92

1645 | Kulbhushan Gupta | Head Jubilant Organosys 76.91

1646 | R. Venkattesh | Head Development Credit Bank 76.90

1647 | K.M. Jayarao | SGM ICICI Bank 76.89

1648 | Srinivas Rao | GM Kingfisher Airlines 76.87

1649 | Gagan Deep | Director HUL 76.87

1650 | Subrata Ray | SVP ICRA 76.86

1651 | M. Ganguli | Regional Manager HDFC 76.86

1652 | N.V.S. Ramakrishna | VP Suven Life Sciences 76.80

1653 | V. Thyagarajan | Director TCS 76.80

1654 | I.D. Mittal | Chief ED Bajaj Hindusthan * 76.79

1655 | Sumant Misra | DGM Kingfisher Airlines 76.73

1656 | Balachandra Kulkarni | Head HCC 76.58

1657 | P. Shyamsunder | VP Britannia Inds 76.57

1658 | A. Issac George | Director & CFO GVK Power & Infra 76.56

1659 | J. Ravichandran | Chief Mechanic Aban Offshore 76.55

1660 | S.H. Venkatramani | President Bajaj Hindusthan * 76.48

1661 | Hridayeshwar Jha | VP Tata Steel 76.48

1662 | Ron Sommer | Director TCS 76.40

1663 | S.A. Bidkar | CFO JK Lakshmi Cements 76.40

1664 | Vinay Wadhwa | SVP Shree Cement 76.39

1665 | Anand Deshpande | CMD Persistent Systems 76.30

1666 | Geoffrey Jesudason | Chief Examiner Kingfisher Airlines 76.29

1667 | Sreedhara R. Warrier | Partner Infosys 76.26

1668 | J.P. Agarwal | CMD Surya Roshni 76.20

1669 | Jackson J. Sagawa | Captain Kingfisher Airlines 76.17

1670 | Ranjit Gupta | President Bajaj Finserv 76.13

1671 | H.K. Oberoi | Corporate Chef The Indian Hotels 76.12

1672 | Ajay Vashi | Head HUL 76.12

1673 | Perry Goes | DVP United Breweries 76.04

1674 | Krishna Kumar Saha | VP Punj Lloyd 76.02

1675 | C. Steiner | Project Manager Siemens * 76.02

1676 | Vimal Roy | Deputy Chief Kingfisher Airlines 76.01

1677 | H.P.U.K. Nair | WTD Sesa Goa 76.00

1678 | Jude Magima | ED Dabur 76.00

1679 | Nitin Vaidya | COO Zee Entertainment 75.98

1680 | Chirag Doshi | MD Walchandnagar Inds * 75.97

1681 | Ajay Saraf | SGM ICICI Bank 75.94

1682 | V.J. Subramanian | Asst VP GTL 75.92

1683 | Chandrashekar Khosla | Director HUL 75.89

1684 | Hugo O. Dedekind | Director Goodyear ** 75.86

1685 | Rohan Rodrigues | EVP Infinite 75.83

1686 | K.P. Singh | WTD Radico Khaitan 75.70

1687 | Siby Abraham | VP Wipro 75.58

1688 | P.K. Sarkar | EVP EIH 75.58

1689 | D. Kumaraswamy | President EID Parry 75.57

1690 | P. Krause | Project Manager Siemens * 75.55

1691 | Manish Dugar | SVP Wipro 75.54

1692 | P.D. Virkar | Programme Director HUL 75.53

1693 | Mathew Job | Sr Director Philips Electronics 75.53

1694 | K.R. Sanjiv | SVP Wipro 75.52

1695 | M.B. Gadgil | ED Graphite India 75.50

1696 | V. Venugopal | Country Manager Lupin Pharma 75.49

1697 | Rakesh Jha | Dy CFO ICICI Bank 75.36

1698 | I. Schneck | Manager Siemens * 75.35

1699 | S. Ananda | Corporate Chef The Indian Hotels 75.35

1700 | Anil Chugh | SVP Wipro 75.31

1701 | Salil Taneja | CEO ISMT 75.26

1702 | S. Dhamodaran | SGM ICICI Bank 75.22

1703 | Badrinath Durvasula | Group Head United Phosphorus 75.21

1704 | G.R. Mohan | DGM Kingfisher Airlines 75.19

1705 | M.M.M. Reddy | WTD Aurobindo Pharma 75.14

1706 | Madhur Aneja | VP Federal-Mogul Goetze India 75.12

1707 | Konnanath Gopikrishnan | AVP Infosys 75.07

1708 | Hitesh Vakil | President & CFO Zee Entertainment 75.07

1709 | P.S. Tandon | Exec President Bajaj Electricals 75.03

1710 | Prabhakar D. Mallya | VP Infosys 75.03

1711 | P.S. Malik | Jt MD Kirloskar Electric Co 75.03

1712 | Jai Bhagwan Goel | WTD Omaxe 75.00

1713 | P.C. Nalwaya | MD Andhra Cements 75.00

1714 | P.P.R. Rao | ED Ucal Fuel 75.00

1715 | Amit Dalmia | Manager HUL 74.99

1716 | Mohit Hira | President NIIT 74.96

1717 | T.N. Tiwari | CPAO ACC ** 74.95

1718 | Indira S. Mittra | DGM Kingfisher Airlines 74.91

1719 | Kiran Kumar | DVP United Breweries 74.89

1720 | Thothathri Visvanathan | AVP Infosys 74.83

1721 | George J. Mammen | Manager Infosys 74.73

1722 | Vivek Sharma | Sr Director Philips Electronics 74.73

1723 | Mukesh Jain | SGM ICICI Bank 74.72

1724 | V.K. Gupta | Sr Director Philips Electronics 74.67

1725 | Anirudh Singh | SVP JSW Steel 74.61

1726 | N.A. Soonawala | Director Tata Motors 74.60

1727 | Juan E. Soto | Captain Kingfisher Airlines 74.57

1728 | Diwakar Payal | Jt President Shree Cement 74.54

1729 | Ramni Nirula | SGM ICICI Bank 74.54

1730 | S. M. Maheshwari | VP JSW Steel 74.50

1731 | Vimal Kapur | MD Honeywell Automation 74.50

1732 | T.R.C. Nair | ED Binani Inds 74.45

1733 | Vishal Suri | COO Thomas Cook ** 74.40

1734 | Arjun Shahani | Sr Director Philips Electronics 74.37

1735 | Laxmi Narasimhan | COO United Spirits 74.26

1736 | Ashok Barat | MD Forbes & Co 74.16

1737 | Ricardo Jaramillo | Captain Kingfisher Airlines 74.15

1738 | Jaydeep Chaudhuri | Sr Manager Infosys 74.11

1739 | K. Maier | Technician Siemens * 74.09

1740 | Steven Haddaway | Captain Kingfisher Airlines 74.07

1741 | Pramod Rao | SGM ICICI Bank 74.05

1742 | Archana A. Mittal | Jt MD Arshiya Int’l 74.03

1743 | Girish Wardadkar | President & ED KPIT Cummins Infosystems 74.02

1744 | G.M. Singhvi | WTD Century Enka 74.00

1745 | Dilip G. Piramal | Chairman VIP Inds 73.95

1746 | Shailesh F. Shah | Group President JSW Steel 73.95

1747 | Haragopal Mangipudi | VP Infosys 73.94

1748 | T. Sankaralingam | MD BGR Energy 73.91

1749 | D. Indlekofer | MCE Siemens * 73.88

1750 | Arvind Vasu | Business Manager ABB 73.88

1751 | G.M. Rao | Chairman GMR Infra 73.86

1752 | S. Krishnan | VP Infosys 73.84

1753 | Pankaj Gaur | MD Jaiprakash Associates 73.78

1754 | A.K. Joshi | President Voltas 73.75

1755 | S. Rathinam | Director BGR Energy 73.70

1756 | Sanjay Sharangdhar | AVP HCC 73.59

1757 | Sachin Khandelwal | SGM ICICI Bank 73.58

1758 | P. Joehnck | Manager Siemens * 73.50

1759 | R. Sundar | ED Mastek # 73.38

1760 | Mauro O. De Cas | Captain Kingfisher Airlines 73.36

1761 | Yves Jean Dumont | Captain Kingfisher Airlines 73.32

1762 | Erik M. Vermeulen | Sr Director Philips Electronics 73.30

1763 | Chandraketu Jha | VP Infosys 73.25

1764 | K. Visweswaran | Project Director Voltas 73.24

1765 | R.K. Singh | Director BPCL 73.22

1766 | Raja S.B. Valiveti | GM Wipro 73.20

1767 | Ibrahim Seddik | Manager Lupin Pharma 73.14

1768 | J.D. Deshpande | Chief Pilot Bajaj Auto 73.11

1769 | Angel A. Barcen | Captain Kingfisher Airlines 73.11

1770 | Yogesh Kamath | SVP GTL 73.04

1771 | Lalit Kumar Mehta | Exec President Bajaj Electricals 72.97

1772 | V.K. Prasad | Principal Tech Architect Infosys 72.96

1773 | Renato Storino | Captain Kingfisher Airlines 72.94

1774 | Vijayeendra S. Purohit | AVP Infosys 72.89

1775 | Dipankar Sarkar | SVP McNally Bharat Engg 72.86

1776 | Hemant B. Ram | COO & CFO DCM 72.80

1777 | A. Banerjee | ED GlaxoSmithKline Pharma ** 72.77

1778 | K.C. Jain | Manager & Sr Pres Kesoram Inds 72.74

1779 | Brigit Zorniger | DGM The Indian Hotels 72.67

1780 | R. Sridhar | MD Shriram Transport Finance Co 72.61

1781 | Atul Gupta | SVP Oracle Financial Services 72.58

1782 | Azam Monem | WTD McLeod Russel 72.51

1783 | Suman Sasmal | VP Infosys 72.50

1784 | Mathias Belinraj | Country Manager R Systems Int’l ** 72.48* Sept Year End; ** Dec Year End; $ Nov Year End; # June Year End

1635-1784

Page 23: Route to the Top-Highest-Paid Executives

u 86 u

u

Rank | Name | Designation Company Salary Rank | Name | Designation Company Salary Rank | Name | Designation Company Salary

In ` lakh

B u s i n e s s i n d i a u december 27, 2010–January 9, 2011The Highest Paid Executives

1785 | Massoud K. Moghadam | Captain Kingfisher Airlines 72.46

1786 | George R. John | Manager HUL 72.44

1787 | Sanjeev Bhatia | VP Wipro 72.43

1788 | J.C. Laddha | ED RSWM 72.42

1789 | P.K. Jain | President Parsvnath Developers 72.40

1790 | Pawan Kumar Gupta | President Parsvnath Developers 72.40

1791 | T.K. Subramanian | Div VP United Spirits 72.36

1792 | Anurag V. Sinha | AVP Infosys 72.36

1793 | Manish Kumar Garg | President Everest Inds 72.34

1794 | Rajnesh Bhatia | President Abhishek Inds 72.34

1795 | A.G. Khopkar | VP Bajaj Auto 72.33

1796 | Rahul Sethi | VP Videocon Inds * 72.23

1797 | Ankur Modi | Head HUL 72.14

1798 | A.K. Sardana | ED Tata Power 72.13

1799 | Ioanita Florian | Captain Kingfisher Airlines 72.12

1800 | S.K. Gupta | Jt President Ambuja Cements ** 72.09

1801 | Dipinder Singh | VP Goodyear ** 72.04

1802 | Manish Chourasia | AGM ICICI Bank 72.03

1803 | R.K. Birla | MD Sujana Metals * 72.00

1804 | Sanjay Trehan | SVP Panacea Biotec 71.88

1805 | P. Abhijit Bhushan | GM Kingfisher Airlines 71.85

1806 | P.N. Poddar | SVP United Spirits 71.79

1807 | R. Rajagopala Menon | ED Ashok Leyland 71.77

1808 | Puneet Khurana | WTD Everest Kanto Cylinders 71.77

1809 | Smarajit Dey | President NIIT 71.76

1810 | Sidharth Tuli | President Punj Lloyd 71.71

1811 | Suresh Thawani | MD Tata Sponge Iron 71.67

1812 | V.K. Sharma | ED United Spirits 71.65

1813 | Barun Das | CEO Zee News 71.60

1814 | Gautam Kumar Das | President Orchid Chem & Pharma 71.47

1815 | Uma Srinivasan | VP Dolphin Offshore 71.45

1816 | John M.M. Shaw | VC Biocon 71.44

1817 | Vipin Tuteja | ED Xerox India 71.32

1818 | A. Sudhakar | ED Dabur 71.31

1819 | V.B. Gadgil | SVP L&T 71.29

1820 | R. Dalvi | EVP Siemens * 71.27

1821 | R.M. Palamadai | SVP Peninsula Land 71.27

1822 | V. Krishnamurthy | SVP L&T 71.25

1823 | K. Vasudev | VP Atul 71.23

1824 | Vijay V. Singh | COO The Indian Hotels 71.23

1825 | Punit Misra | GM HUL 71.17

1826 | Aruna Panchal | GM HCC 71.16

1827 | P.S. Rathore | GM EIH 71.11

1828 | Sanjoy Pasricha | VP Hotel Leelaventure 71.08

1829 | Anil Channa | Dy MD SKNL 71.06

1830 | D.R. Balakrishna | AVP Infosys 71.05

1831 | K.R. Naik | Chairman Smartlink Network Sys 71.04

1832 | R.K. Singh | SVP Hotel Leelaventure 71.00

1833 | Ashok Sinha | CMD BPCL 70.96

1834 | Marciano Merlo | Manager Punj Lloyd 70.96

1835 | Suryanarayana Valluri | VP Wipro 70.94

1836 | Rakesh Mittal | CEO Vardhman Polytex 70.91

1837 | Desmond Greensmith | Team Leader Voltas 70.90

1838 | P.N. Wahal | Head Apollo Tyres 70.90

1839 | O.K. Thomas | Project Director Voltas 70.89

1840 | D.L. Chumble | Chief Peoples Officer Hexaware Tech ** 70.88

1841 | Ravi Kiran | AVP & Principal Infosys 70.86

1842 | Rajiv Raghu | AVP Infosys 70.85

1843 | K.R. Lakshminarayana | CSO Wipro 70.80

1844 | I.B. Hemrajani | Chief Risk Officer Wipro 70.79

1845 | Deepak Mehta | WTD Precision Wires India 70.76

1846 | Sandeep Rao | VP Biocon 70.73

1847 | Bed P. Upreti | Captain Kingfisher Airlines 70.73

1848 | Mahendra R. Mehta | CMD Precision Wires India 70.71

1849 | K. Jayarajan | DGM Aban Offshore 70.67

1850 | P. Dwarakanath Reddy | MD Nippon 70.66

1851 | Mohnish S. Chadda | Examiner Kingfisher Airlines 70.65

1852 | Aaron Taylor | COO Nelcast 70.63

1853 | Sanjay Gupta | WTD Jagran Prakashan 70.61

1854 | Aankur Patni | ED ION Exchange 70.56

1855 | Milind Bengali | Group Head GTL 70.56

1856 | Ripon Rashid | Directional Driller Shiv-Vani Oil & Gas 70.55

1857 | T. Rose | Supervisor Siemens * 70.54

1858 | Vivek Kumar Singh | Manager HUL 70.53

1859 | Anant Iyer | Div VP United Spirits 70.51

1860 | Deepa H. Misra | VP The Indian Hotels 70.49

1861 | Vir S. Advani | ED Blue Star 70.42

1862 | Thuraiur S. Krishnamurthy | VP Wipro 70.41

1863 | V.S. Chawla | RCVP HUL 70.30

1864 | Ramdas K.S. | Head Development Credit Bank 70.26

1865 | Jayant M. Sathaye | ED JSW Steel 70.26

1866 | Syed Z. Ahmed | Project Director Voltas 70.22

1867 | C.R. Rajan | Exec Under Deputation EID Parry 70.15

1868 | V. Subramanyam | GM Wipro 70.09

1869 | Prashant Bangur | Exec Jt President Shree Cement 70.08

1870 | Prabhu Nath Misra | ED Ansal API 70.07

1871 | K.S. Kumar | VP AstraZenca ** 70.07

1872 | Uday Sodhi | CEO Balaji Telefilms 70.00

1873 | G. Hemanth Kumar | GM Divi’s Labs 70.00

1874 | S. Ramakrishna | GM Divi’s Labs 70.00

1875 | S. Devendra Rao | GM Divi’s Labs 70.00

1876 | K. Ghatge | EVP Siemens * 69.99

1877 | Ramakanth Desai | SVP Wipro 69.98

1878 | C.M. Ashok Muni | Director & COO Nagarjuna Agrichem 69.96

1879 | N.D. Shetty | CMD Haldyn Glass Guj 69.91

1880 | Perwez Alam | VP HCC 69.91

1881 | Guido de Boer | CFO United Breweries 69.89

1882 | A. Wolters | Supervisor Siemens * 69.85

1883 | Mecheneni R. Rao | VP Bayer CropScience 69.84

1884 | N.S. Babu | Sr Manager Infosys 69.82

1885 | Manmath Kulkarni | SVP Oracle Financial Services 69.82

1886 | Sebastian K. Thomas | CEO EID Parry 69.81

1887 | Harish Bahadur | Head Apollo Tyres 69.80

1888 | Mohd. Aslam Farooqui | Sr Proj Mgr Voltas 69.80

1889 | M. Ramakrishnan | AVP Infosys 69.74

1890 | Kaushik Banerjee | President Cholamandalam Invest & Fin 69.67

1891 | Pramod K. Sanghi | President Nucleus Software 69.66

1892 | Sameer Kanwar | Jt MD Bharat Gears 69.60

1893 | T.R. Seetharaman | CFO CCCL 69.59

1894 | Sunil Srivastava | ED Xerox India 69.58

1895 | Anurag Srivastava | VP Wipro 69.53

1896 | G.R. Srinivas | Consultant Oracle Financial Services 69.53

1897 | Arun K. Sharma | Head Jubilant Organosys 69.42

1898 | Madhusudhan Rao | Sr Director Sanofi Aventis ** 69.37

1899 | Sanjay Raina | EVP United Spirits 69.36

1900 | Rajiv Gujral | SVP The Indian Hotels 69.33

1901 | Samarjeet Singh Chee | DGM Kingfisher Airlines 69.31

1902 | Anil Jain | VP Bayer CropScience 69.30

1903 | Murray Upson | Head Greenply Inds 69.26

1904 | Ishwar C. Halalli | AVP Infosys 69.24

1905 | S. Ramanujam | Exec VP United Breweries Holdings 69.20

1906 | Lai Chun Wong | JGM ICICI Bank 69.18

1907 | Robert R. Mac Ln | Captain Kingfisher Airlines 69.17

1908 | H.C. Satish | AVP Infosys 69.17

1909 | Prakash K. Shroff | ED Excel Crop Care 69.16

1910 | A.K. Modani | SVP Videocon Inds * 69.13

1911 | Rajiv Kothiyal | Examiner Kingfisher Airlines 69.10

1912 | Christophe Germain | CFO Sanofi Aventis ** 69.09

1913 | A. Sharma | EVP Chambal Fert & Chem 69.04

1914 | S.S. Khanolkar | President Navin Fluorine Int’l 69.04

1915 | Saurabh Kumar Lal | Head HUL 69.03

1916 | Sumit Guha | VP The Indian Hotels 69.00

1917 | M. Ramesh Babu | Chief Technologist Divi’s Labs 69.00

1918 | P. Srinivasa Rao | Chief Technologist Divi’s Labs 69.00

1919 | J.K. Suresh | AVP Infosys 68.99

1920 | M. Subba Rao | VP VST Inds 68.95

1921 | Manu Sood | GM HUL 68.94

1922 | Jeh Wadia | Dy MD Bombay Burmah Trading Corp 68.93

1923 | Deepak N. Hoshing | AVP Infosys 68.82

1924 | Abhay Firodia | Chairman Force Motors 68.80

1925 | Julius A. Vaz | SVP Dr. Reddy’s Labs 68.77

1926 | Praveen A. Kutty | Head Development Credit Bank 68.71

1927 | Vernon Saldanha | Check Pilot Kingfisher Airlines 68.67

1928 | Naveen Chadha | Head ACC ** 68.67

1929 | Sanjay Mohan | AVP Infosys 68.66

1930 | Harsh Bhatia | VP Wipro 68.64

1931 | Jairaj Thyagraj | Sr Consultant Oracle Financial Services 68.64

1932 | T.R. Gopi Kannan | President Atul 68.60

1933 | Sunil Gupta | WTD Jagran Prakashan 68.58

1934 | M. Slorga | Engineer Siemens * 68.56

* Sept Year End; ** Dec Year End; $ Nov Year End; # June Year End

1785-1934

Page 24: Route to the Top-Highest-Paid Executives

u 87 uu

Rank | Name | Designation Company Salary Rank | Name | Designation Company Salary Rank | Name | Designation Company Salary

In ` lakh

B u s i n e s s i n d i a u december 27, 2010–January 9, 2011 The Highest Paid Executives

1935 | Christopher Newbery | GM Hotel Leelaventure 68.53

1936 | G. Venkatesh | CTO Sasken Communication Tech 68.47

1937 | Sushant Kumar | GM ICICI Bank 68.46

1938 | Nitin Anand | Examiner Kingfisher Airlines 68.44

1939 | T.M. Bhandari | SVP DCW 68.43

1940 | Arvind Vasudeva | Ex-MD RPG Life Sciences 68.43

1941 | P. Chandra Tripathi | VP Bajaj Auto 68.39

1942 | Sanker Parameswaran | VP The Indian Hotels 68.38

1943 | A.R. Desai | Jt President Ambuja Cements ** 68.35

1944 | Y. Srinivasa Rao | ED Everest Inds 68.34

1945 | Dhirendra M. Gupta | WTD Jagran Prakashan 68.33

1946 | Carlos L. Araya Ar | Captain Kingfisher Airlines 68.32

1947 | Raju Kaul | President Punj Lloyd 68.31

1948 | D. Selvan | SVP Wipro 68.24

1949 | Maria P. Monta | Captain Kingfisher Airlines 68.18

1950 | J.C.A. D’Souza | Sr GM HDFC 68.16

1951 | K. Dubsky | Chief Supervisor Siemens * 68.11

1952 | Harsha Lal | VP Wipro 68.06

1953 | S. Madhavan | VP Wipro 68.06

1954 | Meera G. Rajeevan | AVP Infosys 68.02

1955 | B.B. Gadeock | Manager HUL 68.01

1956 | Paul H. Moulinier | Captain Kingfisher Airlines 67.99

1957 | Gerry Tham | Chief Merchandiser Bata India ** 67.97

1958 | Vivek Bhasin | VP Wipro 67.96

1959 | C. Sudhakar | Director Chettinad Cements 67.96

1960 | Jose P.M. Mungu | Captain Kingfisher Airlines 67.90

1961 | Zoran Rakic | Captain Kingfisher Airlines 67.90

1962 | A.K. Dixit | EVP Siemens * 67.84

1963 | Gopal Anand | CMD Ansal Buildwell 67.80

1964 | Arvind Mehrotra | EVP NIIT Tech 67.77

1965 | R.S. Datta | Chief Pilot EIH 67.76

1966 | A. Rahman | Processing Tech Leader HUL 67.75

1967 | Anil Nair | MD Avaya Global Connect * 67.72

1968 | Nayan S. Parekh | ED Nilkamal 67.68

1969 | Mahendra M. Gupta | CMD Jagran Prakashan 67.68

1970 | Shashank Shanbhag | VP AstraZenca ** 67.65

1971 | Bharat Mehta | VP Oracle Financial Services 67.62

1972 | Luis Angel A. Ara | Captain Kingfisher Airlines 67.59

1973 | Subhasish Dey | Project Director Voltas 67.55

1974 | Rajeev Pandey | Captain Kingfisher Airlines 67.52

1975 | Luciano Giorgi | VP Punj Lloyd 67.50

1976 | Pujit Aggarwal | MD & CEO Orbit Corporation 67.50

1977 | P.S.R.V.K. Ranga Rao | ED The Andhra Sugars 67.47

1978 | George Angelo | EVP Dabur 67.45

1979 | Hector O. Gonz | Captain Kingfisher Airlines 67.44

1980 | D. Raghuram | President Tube Investments of India 67.39

1981 | Shalini D. Degan | Category Director Britannia Inds 67.36

1982 | M. Garware Modi | Vice Chairperson Garware Polysters 67.35

1983 | M.S. Adsul | Director Garware Polysters 67.35

1984 | S.B. Garware | CMD Garware Polysters 67.35

1985 | Sarita Garware | Jt MD Garware Polysters 67.35

1986 | A. Vasudevan | VP Wipro 67.32

1987 | H. Patel | President Ambuja Cements ** 67.26

1988 | V.K. Goel | Chairman Dhampur Sugars * 67.26

1989 | Vijay K. Arora | ED Kingfisher Airlines 67.26

1990 | Alfredo F. Gut | Captain Kingfisher Airlines 67.15

1991 | Vivek Govilkar | Head Oracle Financial Services 67.13

1992 | Tissa D.D. Ashan | Line Captain Kingfisher Airlines 67.08

1993 | Ashishkumar Chauhan | Dy CEO BSE 67.06

1994 | K. Rajagopal | WTD & CFO ABB 67.04

1995 | A. Rajeswara Rao | President Tube Investments of India 67.00

1996 | Joydeep Mukherjee | VP Infosys 66.97

1997 | Ashish Basu | President NIIT 66.95

1998 | C.N. Murthy | ED & COO The Paper Products ** 66.94

1999 | Rajive Saharia | ED Ashok Leyland 66.93

2000 | Anand Khurana | Head HUL 66.89

2001 | Pramod Khatri | Captain Kingfisher Airlines 66.87

2002 | Purushotam Hinduja | Pilot Ashok Leyland 66.83

2003 | Dumisani Moyo | Captain Kingfisher Airlines 66.82

2004 | Sourav Sinha | CIO Kingfisher Airlines 66.76

2005 | K.L. Udani | ED JB Chem & Pharma 66.73

2006 | Sangeeta Mhatre | SGM ICICI Bank 66.65

2007 | Dinesh Singh Dhillon | Pilot JSW Steel 66.61

2008 | S.V. Subrahmanya | VP Infosys 66.59

2009 | Preobroto Ganguly | Chief Executive BASF 66.57

2010 | Harsh Verma | VP R Systems Int’l ** 66.56

2011 | Abhay V. Udeshi | Director Jayant Agro Organics 66.51

2012 | Hemant V. Udeshi | MD Jayant Agro Organics 66.51

2013 | Subhash V. Udeshi | Director Jayant Agro Organics 66.51

2014 | J. Ganguly | Head L&T 66.51

2015 | Anil K. Jain | SVP Wipro 66.50

2016 | Vijay Wadhwa | CFO & Co. Secretary ICRA 66.44

2017 | Atul Samalia | Head Bayer CropScience 66.44

2018 | Srinivasan Raghavan | AVP Infosys 66.43

2019 | Tejinder Singh G. Pal | Check Pilot Kingfisher Airlines 66.41

2020 | A.S. Johar | Director Unitech 66.40

2021 | Mohini Dutta | ED The Indian Hotels 66.38

2022 | I. Vijaykumar | CTO Wipro 66.36

2023 | Aung Myint | Captain Kingfisher Airlines 66.35

2024 | K.N. Sastry | Chief Scientific Manager Biocon 66.30

2025 | K.K. Karkera | Business Manager Infosys 66.28

2026 | R. Narasimhan | SVP Oracle Financial Services 66.23

2027 | Nirmal Bhogilal | CMD Batliboi 66.22

2028 | Shailesh Gupta | WTD Jagran Prakashan 66.21

2029 | Upal Roy | CSO Cosmo Films 66.20

2030 | Marco T. Espinosa | Captain Kingfisher Airlines 66.19

2031 | Jimmy Mogal | VP HCC 66.19

2032 | V.R. Mahadevan | Director BGR Energy 66.18

2033 | V.S. Padmanabhan | SVP Wipro 66.11

2034 | Robert Barlow | Head Hotel Leelaventure 66.07

2035 | Sofia Mumtaz | EVP Lupin Pharma 66.06

2036 | Andrew G. Kent | Design Engineer Voltas 66.02

2037 | Vikas Mittal | EVP Dabur 66.01

2038 | Madhusudana Rao Divi | Director Divi’s Labs 66.00

2039 | Y.T.S. Prasad | GM Divi’s Labs 66.00

2040 | Paurus M. Irani | VP\ AstraZeneca ** 66.00

2041 | Aditya Kumar Jajodia | MD Assam Company India 66.00

2042 | T.K. Srirang | GM ICICI Bank 65.98

2043 | Moorthi Chokanathan | EVP Hexaware Tech ** 65.98

2044 | Khin Maung San | Captain Kingfisher Airlines 65.94

2045 | Pritpal Singh Arora | Check Pilot Kingfisher Airlines 65.94

2046 | Armando B.H. Duenas | Captain Kingfisher Airlines 65.91

2047 | Deepak Swamy | AVP Infosys 65.89

2048 | Himmat Singh Lagad | ED Gati 65.86

2049 | G. Srinivas | GM ICICI Bank 65.86

2050 | V.P. Kulkarni | Company Secretary HCC 65.85

2051 | Anuradha Aggarwal | Manager HUL 65.84

1935-2051

* Sept Year End; ** Dec Year End; $ Nov Year End; # June Year End

Page 25: Route to the Top-Highest-Paid Executives

u 88 u

u

Rank | Name | Designation Company Salary Rank | Name | Designation Company Salary Rank | Name | Designation Company Salary

In ` lakh

B u s i n e s s i n d i a u december 27, 2010–January 9, 2011The Highest Paid Executives

2052 | M.M. Miyajiwala | EVP Voltas 65.81

2053 | Moe Htaik Kyaw | Captain Kingfisher Airlines 65.78

2054 | Dinesh Yadav | CEO Arvind Mills 65.77

2055 | Sanjoy Paul | AVP & GM Infosys 65.77

2056 | Willem M. du Plessis | Group Head BASF 65.76

2057 | Alejandro L. Pal | Captain Kingfisher Airlines 65.73

2058 | Mohd Iqbal Faizan | Sr Project Mgr Voltas 65.73

2059 | Arindam Bose | VP Videocon Inds * 65.71

2060 | Bhaskar Rao Pawar | Manager Punj Lloyd 65.70

2061 | Devendra Garg | ED Dabur 65.70

2062 | Digvijay M. Kudtarkar | VP HCC 65.63

2063 | V.C. Bedi | EVP L&T 65.62

2064 | A.C. D’Souza | Tool Pusher Aban Offshore 65.56

2065 | N. Saravanan | Special Director Ashok Leyland 65.54

2066 | V. Marwaha | EVP Chambal Fert & Chem 65.54

2067 | Gopal Sharma | Sr Manager Voltas 65.48

2068 | K.C. Kushalappa | Rig Manager Aban Offshore 65.48

2069 | B. Adiga Ramakrishna | GM Bajaj Auto 65.45

2070 | Sanjay Shelvankar | VP Mindtree 65.44

2071 | Doicescu Gheorghe | Captain Kingfisher Airlines 65.40

2072 | Vikas Sabharwal | Manager HUL 65.38

2073 | Haish J. Shah | SVP Wipro 65.38

2074 | M. Manickam | VC & MD Sakthi Sugars ** 65.34

2075 | Bobby P. Golshani | Captain Kingfisher Airlines 65.34

2076 | Sanjay Gehani | Sr MEP Voltas 65.33

2077 | Binod K. Maitin | SVP United Spirits 65.31

2078 | Gomah T. Taphet | Captain Kingfisher Airlines 65.28

2079 | Shrivardhan Goenka | ED Andhra Cements 65.28

2080 | Kang K. Singh | VP & GM The Indian Hotels 65.24

2081 | Ashok Kumar Aggarwal | SVP JSW Steel 65.22

2082 | Rishi R. Chatterjee | Examiner Kingfisher Airlines 65.21

2083 | Ajit G. Nambiar | CMD BPL 65.14

2084 | Ramesh Chandra Sharma | SVP JSW Steel 65.13

2085 | Prashant Tyagi | Head B.L. Kashyap & Sons 65.12

2086 | Kul Taran Singh Anand | CFO NIIT Tech 65.11

2087 | Narendra K. Gogula | AVP Infosys 65.08

2088 | P.V. Varghese | CEO Sobha Developers 65.04

2089 | Charles H. Hawkes | VP Infosys 65.03

2090 | K.P. Gopala Krishnan | VP Dr. Reddy’s Labs 65.03

2091 | Suresh D. Tripathi | President SRF 65.01

2092 | Asim Chakraborty | WTD Welspun 65.00

2093 | M.G. Subrahmanyam | Director Infosys 65.00

2094 | Pushpa K. Avarsekar | ED Unity Infraprojects 65.00

2095 | A.R. Sarkar | GM BPCL 64.96

2096 | Zetterling Goran | Manager ABB 64.94

2097 | Pradeep Parakh | President Bajaj Hindusthan * 64.92

2098 | Kishore Shah | Director & CFO Balrampur Chini Mills 64.92

2099 | R. Sachdeva | Chief Internal Auditor ACC ** 64.89

2100 | S. Soni | GM EIH 64.84

2101 | Juan Jose J. He | Captain Kingfisher Airlines 64.83

2102 | Vivek Subramanian | GC HUL 64.82

2103 | Deepak Jain | SVP Wipro 64.80

2104 | S. Hariharan | SVP Oracle Financial Services 64.80

2105 | Shalaka D. Gulabchand | VP HCC 64.80

2106 | Raul A. Alaniz | Captain Kingfisher Airlines 64.75

2107 | Sanjeev Kumar | Director Bajaj Hindusthan * 64.75

2108 | P. Prasannavadanan Thampi | VP Oracle Financial Services 64.74

2109 | Vijay Mallya | Chairman United Breweries 64.67

2110 | Juan N. Sanchez | Captain Kingfisher Airlines 64.63

2111 | Rahul Kumar Shaw | Head Zee Entertainment 64.63

2112 | Shirish Ghoge | Sr Director Sanofi Aventis ** 64.59

2113 | S.M. Momaya | WTD & CFO Alstom Projects 64.58

2114 | Bharat L. Sampat | CFO Development Credit Bank 64.56

2115 | Anita Arjundas | MD & CEO Mahindra Lifespace 64.56

2116 | P. Gopalakrishna | SVP Coromandel Int’l 64.55

2117 | Hoshedar Contractor | VP Wipro 64.54

2118 | S. Talwar | Sr Director Philips Electronics 64.53

2119 | Vikas Aggarwal | SVP ICRA 64.50

2120 | Smita Bhosale | Regional CMI Head HUL 64.50

2121 | E.L. Miller | Pilot Bajaj Auto 64.49

2122 | A.K. Gupta | GM Britannia Inds 64.48

2123 | Gopal Mishra | Commercial Manager HUL 64.47

2124 | Duke E. Long Ii | Captain Kingfisher Airlines 64.46

2125 | Rudratej Singh | R&D HUL 64.45

2126 | Rakesh M. Asrani | Brand Director HUL 64.40

2127 | Jose M. Uzcategu | Captain Kingfisher Airlines 64.37

2128 | Vikram Grover | GM HUL 64.36

2129 | Raju N. Bhaskar | EVP L&T 64.34

2130 | Nirmal Chandra | President ISMT 64.34

2131 | Iqbal N. Zaidi | GM Punj Lloyd 64.33

2132 | Kishore Kumar Mohanty | WTD SREI Infra Finance 64.32

2133 | N. Kannan | President Punj Lloyd 64.31

2134 | Kalpesh A. Patel | ED Nirma 64.31

2135 | Ang Gelu Sherpa | Captain Kingfisher Airlines 64.30

2136 | M.U. Takale | SVP Bharat Forge 64.25

2137 | Mathew Xavier | Div VP United Spirits 64.24

2138 | Sobha N. Rao | Manager Infosys 64.21

2139 | C.D.R. Nilendra Nigam | EVP L&T 64.20

2140 | Pavan Rishi | Captain Kingfisher Airlines 64.17

2141 | Carlos A. Par | Captain Kingfisher Airlines 64.13

2142 | Lilian J. Paul | Chief Mktg Officer Wipro 64.13

2143 | Rajesh Malik | Instructor Kingfisher Airlines 64.09

2144 | Sanjay Chougule | SGM ICICI Bank 64.08

2145 | A.S. Sundararaman | Chief Manager Indian Oil Corp 64.08

2146 | Ajay B. Baliga | EVP United Spirits 64.07

2147 | Anish A. Singh | Head HUL 64.06

2148 | Sanjay Mehta | MD Essar Shipping, Ports & Log. 64.05

2149 | Ramesh S. Shankar | SVP ABB 64.05

2150 | V. Srinivasan | VP Oracle Financial Services 64.04

2151 | Sanjay Kumar Bang | SVP GTL 64.02

2152 | N.S. Balasubramanian | SVP Wipro 64.01

2153 | Venkata Subramaniam | CEO Oracle Financial Services 63.98

2154 | S.K. Joshi | Director BPCL 63.97

2155 | Shanthinath N. Bellur | Manager Infosys 63.96

2156 | Holger G. Manriqu | Captain Kingfisher Airlines 63.94

2157 | Arun L. George | SVP Coromandel Int’l 63.94

2158 | Madhusudhan Rao | VP HUL 63.92

2159 | Louis De V. Allistair | Captain Kingfisher Airlines 63.92

2160 | R. Shankar | COO EIH 63.91

2161 | A.K. Goel | VC Dhampur Sugars * 63.90

2162 | Ravi S. Gupta | SVP Jubilant Foodworks 63.90

2163 | Vibhav Ramrao | Head HUL 63.89

2164 | Aung Than | Captain Kingfisher Airlines 63.86

2165 | Pramod Sharma | Examiner Kingfisher Airlines 63.86

2166 | Rakesh Kapoor | Examiner Kingfisher Airlines 63.85

2167 | Randal P. Roach | Captain Kingfisher Airlines 63.84

2168 | Hovari A. Fiall | Captain Kingfisher Airlines 63.83

2169 | J.D. Palod | Sr President Kesoram Inds 63.82

2170 | M. Ramabhadran | Sr GM HDFC 63.81

2171 | K. Narasimha Reddy | MD KNR Constructions 63.79

2172 | V.S.N. Murty | CFO Tata Steel 63.74

2173 | R.M. Gala | VP Siemens * 63.72

2174 | Emmanuel Colombier | Ex-VC & MD Alstom Projects 63.69

2175 | Samardeep Subandh | Manager HUL 63.66

2176 | Sergio E. Vald | Captain Kingfisher Airlines 63.66

2177 | D.M. Save | Manager HUL 63.66

2178 | Jose T. Neto | Captain Kingfisher Airlines 63.65

2179 | B. Shanthikaran | Manager Infosys 63.63

2180 | Sunil Chand Singhai | VP Dr. Reddy’s Labs 63.62

2181 | Stephen Remedios | Head HUL 63.60

2182 | Abhishek | AVP Infosys 63.55

2183 | A. Prasad | Chief Resident Executive Tata Steel 63.50

2184 | Rakesh Chhabra | VP Alembic 63.47

2185 | Nay Ko Ko Naing | Captain Kingfisher Airlines 63.47

2186 | R. Immand | Field Service Supervisor Siemens * 63.43

2187 | Ravi Pratap Singh | President Nucleus Software 63.43

2188 | Partha Sarathi De | CFO Panacea Biotec 63.38

2189 | P. Vijaya Bhaskar Reddy | Dy MD Nelcast 63.36

2190 | S. Krishnan | President Zuari Inds 63.35

2191 | Peter A. Fiwa | Captain Kingfisher Airlines 63.34

2192 | Chandan Singh Sengar | President Jubilant Organosys 63.33

2193 | N. Venkataramani | WTD Graphite India 63.33

2194 | Shailesh Kumar Agrawal | AVP Infosys 63.32

2195 | Lars A. Bengtsson | VP Alfa Laval 63.30

2196 | Bhadresh K. Shah | MD AIA Engg 63.26

2197 | N.P. Seetharam | Head HUL 63.24

2198 | Chitsime A. Wale | Captain Kingfisher Airlines 63.22

2199 | K.V.S. Ram Rao | VP Dr. Reddy’s Labs 63.16

2200 | L.R. Tandon | SVP Jubilant Organosys 63.16

2201 | A.A. Kapur | Business Head Ambuja Cements ** 63.13

* Sept Year End; ** Dec Year End; $ Nov Year End; # June Year End

2052-2201

Page 26: Route to the Top-Highest-Paid Executives

u 90 u

u

Rank | Name | Designation Company Salary Rank | Name | Designation Company Salary Rank | Name | Designation Company Salary

In ` lakh

B u s i n e s s i n d i a u december 27, 2010–January 9, 2011The Highest Paid Executives

2202 | K.R. Visvanath | VP HCC 63.13

2203 | Ashish Bobtiwale | Associate VP Alembic 63.11

2204 | Amitabh Pandey | President Thomas Cook ** 63.08

2205 | Vijay Kumar Agarwal | Check Pilot Kingfisher Airlines 63.01

2206 | Mahesh Kumar Sharma | Check Pilot Kingfisher Airlines 63.00

2207 | Shibi Emmanuel | Add’l GM Punj Lloyd 62.96

2208 | Juan Carmona | Captain Kingfisher Airlines 62.96

2209 | Cano J. Isaac Gom | Captain Kingfisher Airlines 62.95

2210 | Raju Rajbanshi | Captain Kingfisher Airlines 62.93

2211 | M.S. Dhonde | Sr Manager Voltas 62.92

2212 | A. Dinakar | WTD Kennametal India # 62.92

2213 | P.N. Iyer | Director ACC ** 62.87

2214 | Saurabh Singh | GM ICICI Bank 62.81

2215 | Harish Sharma | Project Director Voltas 62.80

2216 | Ajay Kukreja | Instructor Kingfisher Airlines 62.79

2217 | M. Niedermeier | Site Engineer Siemens * 62.77

2218 | S. Venkatraman | Chairman & CEO Zylog Systems 62.73

2219 | Y. Madhava Reddy | VP VST Inds 62.73

2220 | Anuj Rustagi | Global Brand Director HUL 62.71

2221 | Pankaj Kapoor | MD Harrisons Malayalam 62.71

2222 | Milind Bapat | SVP GTL 62.70

2223 | Y. Parmeswar | VP Infosys 62.69

2224 | Aryan Goyal | ED Nectar Lifesciences 62.68

2225 | Vilas Dahanukar | VP Dr. Reddy’s Labs 62.67

2226 | Anil Gupta | Jt MD Havells 62.65

2227 | Gour Mukherji | Head Jubilant Organosys 62.63

2228 | V.R. Singh | GM EIH 62.63

2229 | Harish V. Iyer | VP Biocon 62.62

2230 | Nagamani Murthy | VP Wipro 62.62

2231 | Yogesh K. Rathore | Manager Infosys 62.61

2232 | M. Balasubramanian | President Atul 62.61

2233 | M.R. Shankar | Head L&T 62.55

2234 | Fredrick Chola | Captain Kingfisher Airlines 62.52

2235 | D.V. Rao | Ex-WTD Lanco Infra 62.50

2236 | Maas H. Deane | Line Captain Kingfisher Airlines 62.49

2237 | Sanjeev Mantri | GM ICICI Bank 62.48

2238 | Jyoti Narang | COO The Indian Hotels 62.44

2239 | S.N. Roy | EVP L&T 62.43

2240 | G. Shiv Kumar | Instructor Kingfisher Airlines 62.41

2241 | Vikram Gupta | SVP Oracle Financial Services 62.39

2242 | S.N. Subrahmanyan | EVP L&T 62.39

2243 | A.R.S. Kumar | Dy Project Director Voltas 62.38

2244 | Ravi Verma | President Nucleus Software 62.37

2245 | Deepak Jain | Sr ED Lumax Inds 62.35

2246 | Rajesh Bhat | Instructor Kingfisher Airlines 62.34

2247 | Mandeep Singh Tuli | Head HUL 62.33

2248 | Suprio Sengupta | VP Wipro 62.29

2249 | Kaushik Roy | Group Head Apollo Tyres 62.20

2250 | Michael V. Laysaught | Manager Voltas 62.19

2251 | Ayad Farhat | Manager Punj Lloyd 62.18

2252 | Oliver L. Kosonen | Captain Kingfisher Airlines 62.17

2253 | T.S. Venkataramanan | VP Infosys 62.13

2254 | G. Ramesh | Tech Solutions Architect Infosys 62.11

2255 | Basudeo Prasad Modi | Dy MD Visa Steel 62.08

2256 | George Verghese | WTD Batliboi 62.06

2257 | Amod Kumar | Manager Voltas 62.06

2258 | Amit Bajaj | Check Pilot Kingfisher Airlines 62.05

2259 | Punkaj Tanwar | Info Security Officer HUL 62.03

2260 | Ivan Jalaluddin | Instructor Kingfisher Airlines 62.02

2261 | N.R. Narayanan | GM ICICI Bank 62.00

2262 | S.A. Iyengar | Independent Director Infosys 62.00

2263 | Sharon Pereira | Sr Manager HUL 62.00

2264 | Siddhartha Kaushal | Check Pilot Kingfisher Airlines 61.98

2265 | S. Radhakrishnan | Director BPCL 61.98

2266 | Kapil Gupta | SVP Oracle Financial Services 61.97

2267 | Pankaj Ganjoo | DGM ICICI Bank 61.96

2268 | Ram C. Mohan | SVP Mindtree 61.94

2269 | D.S. Murthy | Manager Voltas 61.93

2270 | Ramesh Nagarajan | COO Wipro 61.92

2271 | P. Ramnath | Head Jubilant Organosys 61.91

2272 | Purusha Q.M. Martin | Captain Kingfisher Airlines 61.90

2273 | A.S. Radhakrishna | President Bajaj Electricals 61.87

2274 | Anil Gole | SVP Voltas 61.86

2275 | Vijay Menon | Manager HUL 61.83

2276 | Devesh S. Sahney | Director NRB Bearings 61.82

2277 | Ashok K. Bangera | Manager Infosys 61.82

2278 | T. Baskar | Instructor Kingfisher Airlines 61.79

2279 | P. Kaniappan | WTD Wabco-TVS ( I) 61.73

2280 | Suresh Badami | GM ICICI Bank 61.72

2281 | Sandipta Bose | Manager Aban Offshore 61.70

2282 | K.S. Narayanan | GM HUL 61.69

2283 | Pradeep Kumar Mishra | Captain Kingfisher Airlines 61.69

2284 | K.J. Pardiwalla | MD Standard Inds 61.67

2285 | Alok Jain | VP Wipro 61.67

2286 | Sergio E. Marti | Captain Kingfisher Airlines 61.62

2287 | Susheel Kumar Kaul | CEO Arvind Mills 61.57

2288 | Anshu S. Kalra | Instructor Kingfisher Airlines 61.57

2289 | G. Ravi Prasad | SVP Coromandel Int’l 61.56

2290 | Mtende K. Sil | Captain Kingfisher Airlines 61.55

2291 | Johan L. Kappe | Captain Kingfisher Airlines 61.53

2292 | Jose M. Uzcategu | Captain Kingfisher Airlines 61.52

2293 | P.L. Malarkar | EVP EIH 61.47

2294 | J.R.W. Begg | Head Ashok Leyland 61.46

2295 | C.V.S. Ravi | Instructor Kingfisher Airlines 61.46

2296 | Manoj Gupta | Group CFO Advanta India ** 61.44

2297 | Edgar A. Kaunda | Captain Kingfisher Airlines 61.43

2298 | Prasad Naik | VP Ingersoll Rand 61.41

2299 | B.D. Mundhra | CMD Simplex Infra 61.40

2300 | H. Knoblich | Supervisor Siemens * 61.31

2301 | Sachidanand Singh | Manager Infosys 61.30

2302 | Prakash Pai | President Nucleus Software 61.30

2303 | Murali Ramakrishnan | GM ICICI Bank 61.29

2304 | Antione Diadhiou | Captain Kingfisher Airlines 61.28

2305 | Dinesh Kant Sharma | Instructor Kingfisher Airlines 61.27

2306 | Yashveer Sant Kumar | Captain Kingfisher Airlines 61.27

2307 | Nachiket Pantvaidya | CEO Balaji Telefilms 61.25

2308 | Sikandar Sharma | Manager Kingfisher Airlines 61.25

2309 | Rosita Rabindra | EVP NIIT Tech 61.23

2310 | B.A.S. Bhar | Master Ambuja Cements ** 61.23

2311 | S.N. Modani | MD Sangam (I) 61.19

2312 | M. Venkataraman | President Zee Entertainment 61.17

2313 | S. Krishnan | Head Orchid Chem & Pharma 61.17

2314 | K.R. Sekhar | VP Bayer CropScience 61.16

2315 | Hermes De Azevedo | Captain Kingfisher Airlines 61.14

2316 | Munish Nandwani | Head HUL 61.10

2317 | Bikrant Das Pradhan | Captain Kingfisher Airlines 61.07

2318 | Maung Taw | Captain Kingfisher Airlines 61.06

2319 | Gyanendra Gauchan | Captain Kingfisher Airlines 61.04

2320 | V.K. Agnihotri | Director ACC ** 61.02

2321 | Sushanth M. Tharappan | AVP Infosys 61.01

2322 | Ashish Kumar | GM ICICI Bank 61.00

2323 | Jeffrey S. Lehman | Indep Director Infosys 61.00

2324 | Chhattar Singh Tomar | VP Kingfisher Airlines 60.99

2325 | Sailesh Niraula | Captain Kingfisher Airlines 60.98

2326 | Mark B. Denys | Chief Tata Steel 60.97

2327 | Monir Kumar Shrestha | Captain Kingfisher Airlines 60.97

2328 | K.R. Shivakumar | Sr Principal Engg Philips Electronics 60.95

2329 | Raju Singh Maharjan | Captain Kingfisher Airlines 60.94

2330 | Alan Tyler | Project Director Voltas 60.92

2331 | Srinivasa V. Rao | CFO GMR Infra 60.90

2332 | Abid Sayed | Check Pilot Kingfisher Airlines 60.89

2333 | Vinod Tiku | COO Ansal API 60.89

2334 | J.K. Valecha | MD Valecha Engg 60.89

2335 | Javier R. Ospina | Captain Kingfisher Airlines 60.88

2336 | S. Laurich | Manager Siemens * 60.88

2337 | Suchindra S. Potnis | Consultant Oracle Financial Services 60.85

2338 | Javier E.T. Marin | Captain Kingfisher Airlines 60.85

2339 | D.P. Mangal | ED RSWM 60.85

2340 | A. Ponni Chelvan | Check Pilot Kingfisher Airlines 60.83

2341 | A.O. Cabrera | Chef EIH 60.82

2342 | Y.S. Babu | Captain Kingfisher Airlines 60.79

2343 | Noel W. Nyir | Captain Kingfisher Airlines 60.76

2344 | Ashish Bihari Lall | HRBP HUL 60.74

2345 | H.K. Jain | VP Bajaj Electricals 60.74

2346 | Benedicto Cruz | Captain Kingfisher Airlines 60.73

2347 | Omer Hussain | DGM ICICI Bank 60.73

2348 | V. Bhasin | GM Bajaj Auto 60.72

2349 | Sudhir Sitapati | Director HUL 60.72

2350 | G. Banerjee | GM Britannia Inds 60.69

2351 | Shyam C. Raman | Executive Tube Investments of India 60.68

* Sept Year End; ** Dec Year End; $ Nov Year End; # June Year End

2202-2351

Page 27: Route to the Top-Highest-Paid Executives

u 92 u

u

Rank | Name | Designation Company Salary Rank | Name | Designation Company Salary Rank | Name | Designation Company Salary

In ` lakh

B u s i n e s s i n d i a u december 27, 2010–January 9, 2011The Highest Paid Executives

2352 | G.S. Kalhe | GM Bajaj Auto 60.67

2353 | S.J.V. Chelliah | CFO AstraZeneca ** 60.67

2354 | Sanjeev Kapoor | AVP Infosys 60.67

2355 | Partha Dey | GM ICICI Bank 60.66

2356 | Ahmad Khalatbari | Sr Engineer Voltas 60.65

2357 | P. Acharya | WTD & CEO Binani Cement 60.64

2358 | Saswata Dhar | Sr Legal Counsel HUL 60.62

2359 | S. Nagaraj | AVP Infosys 60.61

2360 | V.P. Khare | SVP Jubilant Organosys 60.56

2361 | Dipankar Sengupta | Advisor to MD Tata Steel 60.55

2362 | S.S. Dhanorkar | Asst MD & COO Finolex Inds 60.55

2363 | Ravindra S. Singhvi | President Indo Rama Synthetics 60.55

2364 | Gautam Goel | MD Dhampur Sugars * 60.54

2365 | Shital Patel | Captain Kingfisher Airlines 60.53

2366 | Gopalakrishnan Palakkil | SVP Mindtree 60.51

2367 | Christopher D. Di | Captain Kingfisher Airlines 60.49

2368 | Justin T. Kilga | Captain Kingfisher Airlines 60.49

2369 | Gaurav Goel | MD Dhampur Sugars * 60.48

2370 | Ravi Madugala | Director R Systems Int’l ** 60.48

2371 | V.R. Renganathan | AVP Infosys 60.45

2372 | Arup R. Raha | Manager Infosys 60.42

2373 | Rajesh Kumar | COO Tata Elxsi 60.39

2374 | S. Shah | Synthetic Flight Instructor Kingfisher Airlines 60.37

2375 | Anisha Pargal | Head HUL 60.35

2376 | S. Narayanan | Director HUL 60.35

2377 | D.S. Sankholkar | Director HUL 60.33

2378 | Christopher S.J. Pereira | GM HUL 60.32

2379 | K.S. Pramod Solanki | Head L&T 60.30

2380 | Vithal Nayak | Director SKF India ** 60.28

2381 | Purnima Lamba | Brand Manager HUL 60.27

2382 | Dilawer Singh Basraon | Captain Kingfisher Airlines 60.25

2383 | Shobhit Uppal | Dy MD Ahluwalia Contracts 60.22

2384 | Supesh Jain | Director HUL 60.20

2385 | V. Radhakrishna | Director Nagarjuna Construction 60.19

2386 | Farokh N. Hilloo | VP United Phosphorus 60.15

2387 | Arup Kanti Nandi | SVP McNally Bharat Engg 60.12

2388 | R.K. Goel | Director GAIL 60.11

2389 | Vijay Kumar Arora | CMD LT Foods 60.09

2390 | Vishok Mansingh | GM Kingfisher Airlines 60.09

2391 | Charudatta Deshpande | GM ICICI Bank 60.09

2392 | Sudeep Jain | Business Head Greenply Inds 60.07

2393 | J.P. Sonthalia | MD Kanoria Chemicals 60.04

2394 | Vijay Walanju | SVP GTL 60.04

2395 | M. Gundu Rao | EVP Unichem 60.04

2396 | R. Sasi Kumar | SVP Puravankara Projects 60.03

2397 | Carlos F. Vela | Captain Kingfisher Airlines 60.02

2398 | K. Alleraun | Head of Accounts Siemens * 60.02

2399 | K.D. Inamdar | VP Sudarshan Chem 60.01

2400 | Ashwin R. Hinduja | COO Gokaldas Exports 60.00

2401 | Deepak Satwalekar | Indep Director Infosys 60.00

2402 | Gaurav D. Hinduja | COO Gokaldas Exports 60.00

2403 | Girish R. Tanti | ED Suzlon Energy 60.00

2404 | Janak Raj Singh | ED Lakshmi Energy & Foods * 60.00

2405 | Kapil Ghorse | President Abhishek Inds 60.00

2406 | Lalitkumar Tulsyan | Chairman Tulsyan NEC 60.00

2407 | R. Ramanan | MD & CEO CMC 60.00

2408 | Sandeep Singh | President Sunteck Realty 60.00

2409 | Sanjay Tulsyan | MD Tulsyan NEC 60.00

2410 | Vivek M. Hinduja | COO Gokaldas Exports 60.00

2411 | R. Devarajan | Special Director Ashok Leyland 59.96

2412 | Tarun Kumar Daga | MD The Tinplate Co of India 59.96

2413 | Aditya Nath Jha | AVP Infosys 59.94

2414 | Rakesh Mehrotra | Ex-MD Container Corp of India 59.93

2415 | R. Sridharan | SVP Lupin Pharma 59.90

2416 | K. Badree | VP Wipro 59.86

2417 | Tarun Joshi | Ex-MD Brandhouse Retails 59.84

2418 | Biswajit Chakraborty | GM Hotel Leelaventure 59.83

2419 | Ashok Soota | Chairman Mindtree 59.82

2420 | Bhag Chand | Captain Kingfisher Airlines 59.81

2421 | Prannoy Roy | Chairman NDTV 59.80

2422 | Radhika Roy | MD NDTV 59.80

2423 | Tarun Mehra | EVP Zee Entertainment 59.79

2424 | Vishal S. Doshi | Group ED Shrenuj 59.76

2425 | Krishnan Sundaram | Manager HUL 59.76

2426 | Bharat Kaul | Sr GM Punj Lloyd 59.75

2427 | Nirbhay Singh | Captain Kingfisher Airlines 59.75

2428 | Luis F. Moreir | Captain Kingfisher Airlines 59.75

2429 | Ashish Agarwal | Check Pilot Kingfisher Airlines 59.74

2430 | Jitendra D. Sangharajka | AVP Infosys 59.73

2431 | Raj Kumar | Check Pilot Kingfisher Airlines 59.73

2432 | R.N. Koushik | AVP Infosys 59.73

2433 | Harvinder Singh Virk | Instructor Kingfisher Airlines 59.72

2434 | G. Narasimhan | VP Oracle Financial Services 59.66

2435 | P. Kishore | MD Everonn Education 59.59

2436 | S.K. Rastogi | Div VP United Spirits 59.56

2437 | G. Kumaran | Head HUL 59.56

2438 | Celso J. Guimara | Captain Kingfisher Airlines 59.56

2439 | Abhishek Somany | Jt MD Somany Cermaics 59.53

2440 | Dinesh Sharma | ED ION Exchange 59.53

2441 | M. Juan C. Palaez | Captain Kingfisher Airlines 59.52

2442 | D. Ganguly | Mkt Research Analyst R Systems Int’l ** 59.50

2443 | Ashok Dash | Sr GM Videocon Inds * 59.49

2444 | L. Balasubramanian | President NIIT 59.49

2445 | Ishwar Jha | CEO Zee Entertainment 59.48

2446 | S.D. Adruti | President Atul 59.44

2447 | G. Ananthanarayanan | Manager HUL 59.43

2448 | Gopal S. Gokhale | President JSW Steel 59.39

2449 | Manoj S. Maheshwari | CFO Bajaj Hindusthan * 59.38

2450 | M. Yamashita | Manager Lumax Inds 59.33

2451 | Unnikrishnan P. Nair | Sr Director Philips Electronics 59.32

2452 | D. Raghavan | EVP Siemens * 59.29

2453 | Tarun Behal | Project Director Voltas 59.29

2454 | G.V.G. Rao | President Atul 59.29

2455 | Kalpesh Gada | VP ICRA 59.28

2456 | Aniruddha Ganguly | Asst COO Wipro 59.28

2457 | P. Ishani | Systems Manager HUL 59.27

2458 | M.G. Palekar | President Atul 59.26

2459 | Yusuf K. Khan | ED Elder Pharma 59.25

2460 | Rajendra V. Gogri | VC & MD Aarti Inds 59.22

2461 | S.K. Kandhari | Ex-Director The Indian Hotels 59.20

2462 | C. Ganesh Subramani | President Bajaj Electricals 59.20

2463 | M.V. Thomas | Director Elder Pharma 59.19

2464 | Sanjeev Sharma | Check Pilot Kingfisher Airlines 59.16

2465 | S.K. Harlalka | Manager HUL 59.16

2466 | Pramod Kumar Akhramka | CFO Vaibhav Gems 59.16

2467 | K.K. Rajesh | EVP Dabur 59.16

2468 | M. Sitaram Kumar | VP Panacea Biotec 59.15

2469 | K. Subba Raju | Sr Director Dr. Reddy’s Labs 59.13

2470 | Uday M. Kolhatkar | Captain Kingfisher Airlines 59.12

2471 | P. Ramakrishna | Captain Kingfisher Airlines 59.07

2472 | Anuradha Narsimhan | Director Britannia Inds 59.06

2473 | Dadhi Ram Nirola | Captain Kingfisher Airlines 59.04

2474 | Shekhar S. Potnis | AVP Infosys 59.04

2475 | Rakesh Syal | Sr GM Punj Lloyd 59.03

2476 | A. Sengupta | Ex-ED Tata Coffee 59.02

2477 | Samir Sheopori | Captain Kingfisher Airlines 59.01

2478 | Claude Smadja | Independent Director Infosys 59.00

2479 | David L. Boyles | Independent Director Infosys 59.00

2480 | Vikram Kapoor | Captain Kingfisher Airlines 58.99

2481 | B.P. Jetty | VP Greaves Cotton # 58.98

2482 | Rajesh R. Mishra | VP Wipro 58.96

2483 | Krishnan Subramanian | Manager Infosys 58.96

2484 | K. Sarover | SVP JSW Steel 58.93

2485 | S.G. Joglekar | SVP Bharat Forge 58.92

2486 | Pradeep Mukherjee | President Himatsingka Seide 58.91

2487 | Nishikant Nigam | AVP Infosys 58.88

2488 | A.B. Shyam Kumar | Head HUL 58.84

2489 | Rajiv Kapasi | Head Jubilant Organosys 58.82

2490 | Arindam Sarkar | SVP McNally Bharat Engg 58.80

2491 | Rajeev M. Pai | CFO JSW Steel 58.77

2492 | J.D. Patil | VP L&T 58.73

2493 | R. Sreeram | VP Dabur 58.73

2494 | Rudolf D’sa | SVP Zee Entertainment 58.71

2495 | Ashok V. Singh Deo | Check Pilot Kingfisher Airlines 58.68

2496 | A. Rakesh Rao | VP Blue Star 58.66

2497 | K. Vyas | VP Dr. Reddy’s Labs 58.64

2498 | Dinesh Jain | Jt President Uflex 58.64

2499 | Sameer Mehra | Check Pilot Kingfisher Airlines 58.63

2500 | Rau H. Bhimasena | Resident Director Ashok Leyland 58.62

2501 | Buchi Reddy | SVP Orchid Chem & Pharma 58.62* Sept Year End; ** Dec Year End; $ Nov Year End; # June Year End

2352-2501

Page 28: Route to the Top-Highest-Paid Executives

u 94 u

u

Rank | Name | Designation Company Salary Rank | Name | Designation Company Salary Rank | Name | Designation Company Salary

In ` lakh

B u s i n e s s i n d i a u december 27, 2010–January 9, 2011The Highest Paid Executives

2502 | Vinayak L. Hampihalikar | VP Oracle Financial Services 58.62

2503 | Smita Gune | GM ICICI Bank 58.58

2504 | K.J. Ghadiali | CFO Tata Investment Corporation 58.54

2505 | D. Banerjee | SVP United Breweries Holdings 58.50

2506 | Achuthan Nair | VP & Business Head Wipro 58.49

2507 | Carlos A. Ramir | Captain Kingfisher Airlines 58.43

2508 | Teghjeet Malhotra | Captain Kingfisher Airlines 58.37

2509 | Urmez P. Mugaseth | Captain Kingfisher Airlines 58.36

2510 | Ajeet Oka | Captain Kingfisher Airlines 58.36

2511 | K. Ravichandran | VP ICRA 58.31

2512 | G. Einenkel | Chief Supervisor Siemens * 58.31

2513 | Mukul Gupta | Captain Kingfisher Airlines 58.28

2514 | L. Ramakrishnan | GM Philips Electronics 58.28

2515 | Deepak Subramanian | Brand Director HUL 58.27

2516 | Krishnamurthy Shankar | Captain Kingfisher Airlines 58.27

2517 | R. Arivazhagan | Sr GM HDFC 58.26

2518 | Maninder Singh | Captain Kingfisher Airlines 58.21

2519 | T. Zwick | MCE Siemens * 58.19

2520 | Milind B. Joshi | President JB Chem & Pharma 58.19

2521 | Jorge M. Delgado | Captain Kingfisher Airlines 58.18

2522 | Sandeep Kakkar | Check Pilot Kingfisher Airlines 58.18

2523 | Karl Bahadur Wykes | Captain Kingfisher Airlines 58.18

2524 | J. Ramaswamy | Chief Quality Officer Wipro 58.17

2525 | G. Veera Bhadram | SVP Coromandel Int’l 58.17

2526 | Ajoy Menon | VP Wipro 58.17

2527 | Viney Mehra | Director Golden Tobacco 58.16

2528 | Syrus S. Mazda | Captain Kingfisher Airlines 58.15

2529 | P. Dasgupta | MD & CEO Petronet LNG 58.12

2530 | S. Venkataramani | Head HUL 58.09

2531 | Vijay Kamal | Check Pilot Kingfisher Airlines 58.08

2532 | Milind V. Dikshit | AVP Infosys 58.07

2533 | Harold C. D’pen | Captain Kingfisher Airlines 58.05

2534 | Praveen K. Kalbavi | AVP Infosys 58.00

2535 | Ashok Kajaria | CMD Kajaria Ceramics 58.00

2536 | Anand Valavi | Group Head Wipro 57.97

2537 | Mritunjay K. Singh | AVP Infosys 57.97

2538 | Sanjeev Kumar Ahuja | Captain Kingfisher Airlines 57.97

2539 | Ranvijay Singh | WTD Jaiprakash Associates 57.96

2540 | A.K. Joshi | Director Golden Tobacco 57.95

2541 | S. Pednekar | Check Pilot Kingfisher Airlines 57.94

2542 | N.S. Kadian | Captain Kingfisher Airlines 57.93

2543 | R. Gopalakrishnan | VC Tata Chemicals 57.93

2544 | A. Pramanik | Head HUL 57.91

2545 | Akshay Renavikar | Captain Kingfisher Airlines 57.90

2546 | Bijendra Shrestha | Captain Kingfisher Airlines 57.89

2547 | B.C. Tripathi | CMD GAIL 57.89

2548 | Rajesh Agrawal | EVP Punj Lloyd 57.86

2549 | V. Ramesh | CFO Carborundum Universal 57.83

2550 | Satish Kumar Sayal | EVP NIIT Tech 57.83

2551 | K.S. Harish | VP Bayer CropScience 57.82

2552 | T.R. Vijaya Raghavan | Line Manager Infosys 57.80

2553 | A.J. Pandya | Chief Internal Auditor Ambuja Cements ** 57.79

2554 | Bankim C. Mehta | Captain Kingfisher Airlines 57.79

2555 | Gautam Bhagat | Sr GM HDFC 57.72

2556 | Venkatesh Padmanabhan | COO Eicher Motors ** 57.72

2557 | S.N. Patil | Dy GM Voltas 57.70

2558 | Vijay Kumar Vasudev | Manager Kingfisher Airlines 57.68

2559 | T. Luedktke | Manager Siemens * 57.66

2560 | Bhupinder Singh Sandhu | Captain Kingfisher Airlines 57.64

2561 | Ng Weng Cheng | Manager Voltas 57.64

2562 | A. Guha | VP Greaves Cotton # 57.62

2563 | Pradyut Kumar Pal | Dy GM Indian Oil Corp 57.61

2564 | Shailesh T. Desai | WTD Sun Pharma 57.61

2565 | Raman Mahaveera | Captain Kingfisher Airlines 57.61

2566 | S. Kanakanand | Manager HUL 57.60

2567 | Swati Gupte | Director HUL 57.59

2568 | Ravi Nathan | Captain Kingfisher Airlines 57.59

2569 | Anil Muthya | AGM ICICI Bank 57.58

2570 | S. Parthasarathy | President Rane (Madras) 57.57

2571 | Sanjay N. Mandavia | Captain Kingfisher Airlines 57.54

2572 | B.S. Kapur | President Punj Lloyd 57.52

2573 | Subir Mukerjee | Captain Kingfisher Airlines 57.52

2574 | Saket Jindal | MD Maharashtra Seamless 57.52

2575 | Vijay Kumar Reddy | Captain Kingfisher Airlines 57.48

2576 | G.C. Daga | Director Indian Oil Corp 57.41

2577 | Hiren K. Patel | MD Nirma 57.41

2578 | D.R. Moorthy | EVP Bharat Forge 57.41

2579 | Karthik Srinivasan | VP ICRA 57.40

2580 | V. Vijayanand | VP Wipro 57.38

2581 | A.P. Srivastava | SVP Jubilant Organosys 57.38

2582 | R.K. Shukla | VP Alembic 57.37

2583 | B. Sathyanarayanan | Director Philips Electronics 57.35

2584 | Rahul Kumar | CFO Jaiprakash Associates 57.35

2585 | A.K. Mukherjee | Director Exide Inds 57.33

2586 | Niket D. Kalra | Captain Kingfisher Airlines 57.30

2587 | Denis Lemin | Manager Bayer CropScience 57.29

2588 | Anuradha Razdan | Manager HUL 57.28

2589 | Andris Vicinski | Captain Kingfisher Airlines 57.27

2590 | Peter Jefferson | Engineer Voltas 57.26

2591 | Kesar Kenny | VP Wipro 57.25

2592 | Lipsa Mishra | VP HCC 57.25

2593 | Alangiam P. Kalaichelvan | Captain Kingfisher Airlines 57.25

2594 | R.K. Kaura | Captain Kingfisher Airlines 57.23

2595 | Gosavi Venkatramana | AVP Infosys 57.21

2596 | Daniel Grant | Captain Kingfisher Airlines 57.19

2597 | Neville D. Bhi | Captain Kingfisher Airlines 57.18

2598 | Ashok Kumar Ghose | President Jubilant Organosys 57.18

2599 | Xerxes H. Buhariwa | Captain Kingfisher Airlines 57.17

2600 | Bhaskar Chavali | EVP NIIT Tech 57.15

2601 | A. Santhosh | Principal Tech Architect Infosys 57.11

2602 | Kanchan Sanyal | Manager Voltas 57.10

2603 | Jesus E. Lopez | Captain Kingfisher Airlines 57.09

2604 | J.M. Bhambure | EVP Blue Star 57.07

2605 | R. Parthasarathy | VC & MD Thirumalai Chem 57.07

2606 | S. Sridharan | CMD Thirumalai Chem 57.07

2607 | Kedar Lele | Manager HUL 57.06

2608 | Anmol Jain | Sr ED Lumax Inds 57.06

2609 | Raja Subramanian | AGM ICICI Bank 57.04

2610 | Pradyot K. Sinha | Director Philips Electronics 57.04

2611 | J.K. Misra | Director Indian Metals & Ferro Alloys 57.03

2612 | Tapio Juurioksa | Manager ABB 57.03

2613 | Tridibkumar Das | Director Philips Electronics 57.02

2614 | Joseph G. Larry | Head Sesa Goa 57.00

2615 | N.R.N. Murthy | Chairman, Chief Mentor Infosys 57.00

2616 | Mahesh Krishnan | VP Philips Electronics 56.99

2617 | Mathew Thomas | VP Oracle Financial Services 56.97

2618 | K. Stadelmann | General Counsel Siemens * 56.95

2619 | Atul W. Lande | Sr GM Punj Lloyd 56.94

2620 | B. Chattopadhyay | ED & CEO Dhunseri Petrochem & Tea 56.94

2621 | Shailendra S. Singh | Manager HUL 56.94

2622 | Rudolf Elchele | Exec Chef Hotel Leelaventure 56.90

2623 | P.K. Agarwal | Jt President Uflex 56.89

2624 | S. Chandramowli | Director SKF India ** 56.88

2625 | K. Ganesh | VP Dr. Reddy’s Labs 56.87

2626 | Kiran K. Desai | VP Bayer CropScience 56.84

2627 | Abhijit Sen | AVP Infosys 56.83

2628 | Ganadhish Kamat | SVP Lupin Pharma 56.83

2629 | S. Ganesh | Reg HRT Change Lead HUL 56.82

2630 | P. Ravishankar | Chief Mahindra Holidays & Resorts 56.80

2631 | Shyam Kalra | Captain Kingfisher Airlines 56.73

2632 | Athreya Ranganath | JCS ICICI Bank 56.72

2633 | P. Kumaravel | Captain Kingfisher Airlines 56.70

2634 | A.A. Mozumder | Manager HUL 56.67

2635 | N. Gopalaratnam | CMD Seshasayee Papers 56.64

2636 | Narender Sapra | WTD Jagatjit Inds 56.62

2637 | Sanjay Kadam | Taxation GTL 56.61

2638 | P.G. Makhija | CEO Bombay Dyeing 56.61

2639 | D. James Dawson | Manager Voltas 56.60

2640 | Ajay Tandon | Jt President Uflex 56.58

2641 | Anuradha Ray | SVP ICRA 56.54

2642 | Sairam Jagannathan | VP Wipro 56.52

2643 | Rajib Bhattacharya | Check Pilot Kingfisher Airlines 56.47

2644 | Priyank Agrawal | Check Pilot Kingfisher Airlines 56.47

2645 | Nihar K. Parikh | ED Shrenuj 56.47

2646 | Mohan P. Rao | VP Hotel Leelaventure 56.42

2647 | Ritu Jain | Divisional Head Apollo Tyres 56.40

2648 | Beer Singh Yadav | Captain Kingfisher Airlines 56.40

2649 | G. Ravichandran | President Himatsingka Seide 56.39

2650 | S.K. Goenka | MD Emami 56.39

2651 | T.G. Ramakrishnan | Manager HUL 56.38

* Sept Year End; ** Dec Year End; $ Nov Year End; # June Year End

2502-2651

Page 29: Route to the Top-Highest-Paid Executives

u 95 uu

Rank | Name | Designation Company Salary Rank | Name | Designation Company Salary Rank | Name | Designation Company Salary

In ` lakh

B u s i n e s s i n d i a u december 27, 2010–January 9, 2011 The Highest Paid Executives

2652 | Ashok Rao | President & WTD Automotive Axles * 56.37

2653 | V. Mehra | Sr Exec Pilot EIH 56.34

2654 | Prasanth Nair | President & Head Thomas Cook ** 56.33

2655 | Prithvi Malhotra | Captain Kingfisher Airlines 56.31

2656 | Ranveer Jhangiani | Captain Kingfisher Airlines 56.24

2657 | Sanjay Kumar Thakur | Captain Kingfisher Airlines 56.21

2658 | R.S. Sharma | CMD ONGC 56.20

2659 | Srinivas Gutta | Sr Director Philips Electronics 56.19

2660 | S.K. Tiwari | Unit Head Heidelberg Cements 56.19

2661 | K.L. Chandak | ED The West Coast Paper Mills 56.15

2662 | Madhukar H. Kapoor | VP Oracle Financial Services 56.15

2663 | D.R. Ray | EVP L&T 56.13

2664 | R. Vaidyanathaswamy | Manager Infosys 56.10

2665 | C.K. Rao | GM Bajaj Auto 56.08

2666 | N. Chandrasekaran | Special Director Ashok Leyland 56.07

2667 | Parul N. Trivedi | Captain Kingfisher Airlines 56.05

2668 | Jovan Manojlovic | Captain Kingfisher Airlines 56.03

2669 | Sanjay Khosla | EVP Sobha Developers 56.03

2670 | Anoop Hoon | President Century Ply 56.01

2671 | A. Baiker | GT Siemens * 56.01

2672 | R.K. Mediratta | Chief Executive Abhishek Inds 56.00

2673 | Vibha Batra | VP ICRA 55.97

2674 | Ramesh Kumar Dewan | Captain Kingfisher Airlines 55.97

2675 | S. Govindarajan | SVP Coromandel Int’l 55.96

2676 | K.K. Saraf | VP & CS Greaves Cotton # 55.96

2677 | S.C. Singhal | Div VP United Spirits 55.94

2678 | John T. Fletcher | Head NIIT Tech 55.93

2679 | Utkarsh Munot | ED ZF Steering Gear 55.92

2680 | Sanjay Chamria | VC & MD Magma Fincorp 55.91

2681 | B.N. Mohanan | WTD & President Atul 55.90

2682 | Shashank Warty | Area VP Hotel Leelaventure 55.88

2683 | Anand Jankiraman | Manager R Systems Int’l ** 55.86

2684 | V. Hariharan | Group CFO Peninsula Land 55.86

2685 | Mayank Poddar | Chairman Magma Fincorp 55.86

2686 | J. Schaak | Manager Siemens * 55.85

2687 | Pavan Kumar | Head HUL 55.85

2688 | S.K. Mittra | Head L&T 55.84

2689 | Maitreya Doshi | CMD Premier 55.82

2690 | G.S. Ravishankar | VP Wipro 55.82

2691 | Niyant Maru | VP The Indian Hotels 55.81

2692 | Yateen A. Pandit | Captain Kingfisher Airlines 55.81

2693 | Ulhas B. Khadtale | Captain Kingfisher Airlines 55.80

2694 | P.N. Sivaraman Nair | Asst VP Thomas Cook ** 55.80

2695 | Krishan Kumar Rastogi | Captain Kingfisher Airlines 55.77

2696 | G.V. Kalavathi | Director Philips Electronics 55.75

2697 | B. Suresh | VP Wipro 55.75

2698 | Sunil Tiwari | President Punj Lloyd 55.74

2699 | Jayant Kawale | CEO Bharat Forge 55.74

2700 | Rajesh Sethuraman | Manager HUL 55.73

2701 | Chandrashekar S. Damle | CEO L&T 55.72

2702 | Satish Chandra Pandey | Captain Kingfisher Airlines 55.70

2703 | Tapan D. Bhat | VP Wipro 55.69

2704 | R. Satsangi | Div VP United Spirits 55.66

2705 | V.D. Kale | VP Siemens * 55.66

2706 | M.R. Rani | Director Philips Electronics 55.55

2707 | K. Senthilnayagam | VP Hexaware Tech ** 55.55

2708 | Jagdish K. Rao | SVP Jubilant Organosys 55.53

2709 | Samir Thapar | VC & MD JCT 55.50

2710 | T. Venkataswara Rao | Head Jubilant Organosys 55.50

2711 | Robbin L. Mubanga | Captain Kingfisher Airlines 55.49

2712 | Prabhath Madhawa | Manager HUL 55.49

2713 | Simranjit S. Mann | Captain Kingfisher Airlines 55.48

2714 | Neeraj Dogra | Sr Manager Philips Electronics 55.47

2715 | J.P. Singh | EVP L&T 55.46

2716 | M. Ramakumar | DGM Ashok Leyland 55.45

2717 | Dheeraj Matang | Captain Kingfisher Airlines 55.43

2718 | Samai Singh Sahrawat | SVP Jubilant Organosys 55.42

2719 | Ch.K.V.V. Sathyanarayanan | Mgr Voltas 55.42

2720 | Mahesh Kulkarni | Captain Kingfisher Airlines 55.41

2721 | Manek Kalyaniwala | EVP Blue Star 55.39

2722 | R. Ramamurthi | VP Oracle Financial Services 55.38

2723 | K.N. Prabhakar | Head Hindustan Oil Exploration 55.38

2724 | Noel D. Silva | Design Engineer Voltas 55.36

2725 | Franz Joseph D’sa | Captain Kingfisher Airlines 55.36

2726 | S.N. Prasad | Div VP United Spirits 55.35

2727 | Manoj Mehrotra | VP Dr. Reddy’s Labs 55.35

2728 | M. Viswanathan | CFO & Director Finolex Cables 55.33

2729 | Pritpal Singh Kular | Director Heidelberg Cements 55.33

2730 | D.V. Shetty | VP Oracle Financial Services 55.33

2731 | V.R. Sanjeev | AVP Infosys 55.29

2732 | Suraj Aggarwal | CMI ICICI Bank 55.29

2733 | Dalip Kumar Garg | Div VP United Spirits 55.28

2734 | Alick Khaw | AGM ICICI Bank 55.28

2735 | P.N.S. Karanth | Dy Project Director Voltas 55.26

2736 | Puneet Ranjan | Sr Consultant Oracle Financial Services 55.26

2737 | S.N. Kumar | Principal Tech Architect Infosys 55.25

2738 | C.Y. Deshpande | GM Bajaj Auto 55.21

2739 | Arvind Talwar | Captain Kingfisher Airlines 55.18

2740 | M. Tanaka | Manager Lumax Inds 55.18

2741 | P.S. Rao | President Rane Brake Lining 55.15

2742 | A.K. Magotra | Manager HUL 55.13

2743 | Mayank Agraval | JGM ICICI Bank 55.12

2744 | U.D. Choubey | Ex-CMD GAIL 55.11

2745 | Ranjan Kumar De | President ABB 55.11

2746 | Parag Gaonkar | Captain Kingfisher Airlines 55.10

2747 | Abhinav Dev Sharma | Check Pilot Kingfisher Airlines 55.10

2748 | Harish Paul | Sr Manager Engineers India 55.09

2749 | Ajay Misra | Captain Kingfisher Airlines 55.09

2750 | B.M. Subraya | AVP Infosys 55.07

2751 | Sunit Suri | COO Thomas Cook ** 55.07

2752 | Ajay Gupta | GM ICICI Bank 55.06

2753 | Pratik C. Mehta | Captain Kingfisher Airlines 55.04

2754 | Aasif Malbari | Head HUL 55.01

2755 | Kallol Chakraborty | VP Panacea Biotec 54.99

2756 | Murali Ramachandran | VP Kingfisher Airlines 54.99

2757 | D.S. Shevde | EVP L&T 54.99

2758 | G.F. Grove White | ED & COO Tata Power 54.95

2759 | Devendra P. Nirmal | Captain Kingfisher Airlines 54.93

2760 | Mohit Ratti | Check Pilot Kingfisher Airlines 54.90

2761 | Samir Joshipura | President Abhishek Inds 54.90

2762 | Manoj C. Agrawal | DGM Punj Lloyd 54.89

2763 | Arnab Chakravarti | AGM ICICI Bank 54.88

2764 | Girish Nayak | GM ICICI Bank 54.88

2765 | K.P.G. Nair | Consultant Tata Steel 54.88

2766 | Meenakshy Iyer | VP Oracle Financial Services 54.88

2767 | Debasis Nandy | VP Thomas Cook ** 54.86

2768 | Arvind Jain | Div VP United Spirits 54.86

2769 | Supritha Shetty | JGM ICICI Bank 54.84

2770 | Nependra Bhattarai | Captain Kingfisher Airlines 54.82

2771 | Kadathanad Raghavan | Captain Kingfisher Airlines 54.82

2772 | Tejvir Singh Tomar | Check Pilot Kingfisher Airlines 54.81

2773 | K. Natarajan | Corporate Chef The Indian Hotels 54.79

2774 | K.K. Acharya | Ex-MD Chennai Petro Corp 54.79

2775 | L. Ganesh | VC Rane Holdings 54.77

2776 | Ashok Kumar Mohanty | Sr GM Punj Lloyd 54.77

2777 | P.M. Rajendran | SVP JSW Steel 54.74

2778 | Raj K. Poddar | Dy MD Gujarat Sidhee Cement 54.71

2779 | G. Radhakrishnan | GM Biocon 54.70

2780 | A.D. Mundhra | ED Simplex Infra 54.70

2781 | A. Naresh Kumar | MD Sathavahana Ispat 54.70

2782 | N. Venkataraman | Head Britannia Inds 54.68

2783 | Juan C. Espinosa | Captain Kingfisher Airlines 54.68

2784 | Vivek Chawla | Director ACC ** 54.65

2785 | Ravi Krishnan | Manager HUL 54.63

2786 | J.P. Khetan | MD Golden Tobacco 54.63

2787 | Khalid Lari | Manager Voltas 54.62

2788 | Sayee Srinivasan | Head BSE 54.60

2789 | S. Venkatachary | Captain Kingfisher Airlines 54.60

2790 | S. Mohan | Director BPCL 54.60

2791 | S. Pande | Country Manager L&T 54.59

2792 | Vinay Kale | VP GTL 54.58

2793 | Rohit D. Inamdar | VP ICRA 54.58

2794 | S. Wadhwa | ED Tata Power 54.56

2795 | Sunil Oli | Captain Kingfisher Airlines 54.55

2796 | Nandan Damani | CMD Simplex Realty 54.55

2797 | Ang Dorje Sherpa | Captain Kingfisher Airlines 54.55

2798 | Manoj D. Soni | Chief Jubilant Organosys 54.54

2799 | Udayan Dutt | Manager HUL 54.53

2800 | Rajul Bhansali | ED Gammon India 54.52

2801 | G.G. Gangal | SVP Ambuja Cements ** 54.52

* Sept Year End; ** Dec Year End; $ Nov Year End; # June Year End

2652-2801

Page 30: Route to the Top-Highest-Paid Executives

u 96 u

u

Rank | Name | Designation Company Salary Rank | Name | Designation Company Salary Rank | Name | Designation Company Salary

In ` lakh

B u s i n e s s i n d i a u december 27, 2010–January 9, 2011The Highest Paid Executives

2802 | Satyakam Sharma | Sr Manager Philips Electronics 54.45

2803 | Ashok Kumar Rambal | Chief Jubilant Organosys 54.45

2804 | Rajesh V. Shah | Co-Chairman & MD Mukand 54.40

2805 | Sunil Godhwani | CMD Religare Enterprise 54.39

2806 | Arjun Dayakar | Captain Kingfisher Airlines 54.39

2807 | Rakesh Gothi | MD & CEO JBF Inds 54.38

2808 | Ashish Berry | Captain Kingfisher Airlines 54.37

2809 | Sreeram Venkateswaran | GM Bajaj Auto 54.36

2810 | Sunil D. Sapre | Dy Director Patel Engg 54.34

2811 | Arun Bopaiah | Div VP United Spirits 54.34

2812 | Simren Ghumman | Captain Kingfisher Airlines 54.34

2813 | William Mok | AGM ICICI Bank 54.34

2814 | Biren P. Dave | VP Bayer CropScience 54.32

2815 | Rahul Bhole | Manager Voltas 54.31

2816 | M.M. Sharma | SVP Shree Cement 54.31

2817 | Tarun Gupta | EVP Jagran Prakashan 54.30

2818 | Uma Balakrishnan | VP HCC 54.30

2819 | M. Sambasiva Rao | President Heritage Foods 54.26

2820 | Rajesh Khajanchi | Add’l GM Punj Lloyd 54.26

2821 | Sarosh Shetty | Manager HUL 54.25

2822 | R.S. Subramaniam | GM Britannia Inds 54.24

2823 | Chandrakanth Deasi | AVP Infosys 54.24

2824 | T. Venugopalan | CTO Tata Steel 54.21

2825 | G.E. Strachan | Sr Design Director Voltas 54.18

2826 | Vidyadhar Apte | Co Sec GTL 54.17

2827 | Bharat Gupta | EVP Jagran Prakashan 54.16

2828 | S. Mohan Rao | Chief Risk Officer Wipro 54.16

2829 | K.P. Raghavan | Head L&T 54.16

2830 | Raj Kumar Adlakha | MD Uttam Sugars 54.15

2831 | S. Bhattacharya | VP Greaves Cotton # 54.15

2832 | Saravanamuthu | Manager Infosys 54.15

2833 | Ferah Abdel Ali | Captain Kingfisher Airlines 54.13

2834 | Sameer Gupta | EVP Jagran Prakashan 54.12

2835 | Amit Palta | GM ICICI Bank 54.11

2836 | S. Reddy | Category Accountant HUL 54.11

2837 | V. Senthil Kumar | Manager Infosys 54.10

2838 | Prabhat K. Gupta | Head Xerox India 54.09

2839 | Mrigank Dhanuka | VC & ED Dhunseri Petrochem & Tea 54.09

2840 | Enzo Marotta | Manager ABB 54.09

2841 | Chander Shekhar | Director ACC ** 54.08

2842 | Sandeep Gupta | EVP Jagran Prakashan 54.06

2843 | B.G. Jayaram | AVP Infosys 54.05

2844 | M. Venugopalan | MD & CEO Federal Bank 54.05

2845 | T.N. Gopal | AVP Infosys 54.05

2846 | Kishore Anant | COO Indo Rama Synthetics 54.04

2847 | Partima Ram | President Punj Lloyd 54.03

2848 | Meena Pandey | Captain Kingfisher Airlines 54.02

2849 | Neeraj Biala | Captain Kingfisher Airlines 54.02

2850 | Ajit Singh | VP L&T 54.02

2851 | A. Kaul | Head Ambuja Cements ** 54.02

2852 | V. Rajagopalan | VP Bajaj Finserv 53.96

2853 | K.R.L. Narasimham | Manager L&T 53.94

2854 | S. Joshi | Head Ambuja Cements ** 53.94

2855 | Gajendra D. Wagh | Captain Kingfisher Airlines 53.92

2856 | Rajmohan Singh | Director JCT 53.90

2857 | P.V.S.N. Raju | Head Sonata Software 53.87

2858 | Raj Swaminathan | Director & COO R Systems Int’l ** 53.86

2859 | Ajit Bhobe | VP Unichem 53.85

2860 | Rajeev P. Patil | SVP Lupin Pharma 53.84

2861 | Laxman P. Bikra | Captain Kingfisher Airlines 53.83

2862 | Amrita G. Pereira | Captain Kingfisher Airlines 53.83

2863 | K.M. Joshi | VP Greaves Cotton # 53.81

2864 | Adit Gupta | Captain Kingfisher Airlines 53.81

2865 | K.M. Deshmukh | Dy MD Sona Koyo Steering Sys 53.80

2866 | J. Bauer | Project Manager Siemens * 53.79

2867 | V. Gadgil | Head HUL 53.78

2868 | K.S. Raju | CMD Nagarjuna Fert & Chem 53.77

2869 | Kunal Sagar | VC Nirlon 53.76

2870 | Nisha Purushothaman | Jt MD Empee Distilleries 53.76

2871 | Shaji Purushothaman | MD Empee Distilleries 53.76

2872 | C. Kumar | Jt President Ambuja Cements ** 53.74

2873 | Sandip Biswas | Group Head Tata Steel 53.74

2874 | Rama M.V. Kadayinti | AVP Infosys 53.74

2875 | Rajendra Man Shakya | Captain Kingfisher Airlines 53.72

2876 | K. Balasubramanian | SVP & CFO Tube Investments of India 53.67

2877 | Richa Puranesh | Manager HUL 53.66

2878 | Milan Patel | Captain Kingfisher Airlines 53.65

2879 | Vijay Kshirsagar | EVP Unichem 53.64

2880 | Sharad Tyagi | SVP Dr. Reddy’s Labs 53.64

2881 | Amit Kumar Bansal | Captain Kingfisher Airlines 53.64

2882 | Rajesh Chandra Verma | Head Development Credit Bank 53.63

2883 | Karim Hassene | Exec Chef Hotel Leelaventure 53.63

2884 | P.K. Shrawat | Executive President Balrampur Chini Mills 53.63

2885 | Usha P. Shastry | Program Manager Infosys 53.63

2886 | Satnam Singh | CMD Power Finance Corp 53.62

2887 | Ajit Kumar Singh | Captain Kingfisher Airlines 53.60

2888 | Prasanth Samavedam | Manager Infosys 53.58

2889 | C. Seshagiri Rao | VP Dr. Reddy’s Labs 53.56

2890 | Devesh Gupta | EVP Jagran Prakashan 53.56

2891 | S.K. Nevatia | CMD Hind Rectifiers 53.56

2892 | Amit Kaistha | CMII ICICI Bank 53.56

2893 | Vinayak Katamble | Captain Kingfisher Airlines 53.55

2894 | Anuprita Magar | Captain Kingfisher Airlines 53.53

2895 | N. Govinda Rajan | DGM BPCL 53.53

2896 | T.T. Abraham | Special Director Ashok Leyland 53.50

2897 | Sunjay Kapur | VC & MD Sona Koyo Steering Sys 53.50

2898 | P.R. Singh | Executive President Balrampur Chini Mills 53.47

2899 | Gratian Perez | VP Oracle Financial Services 53.47

2900 | S.S. Patil | Captain Kingfisher Airlines 53.45

2901 | Nimish Shah | Head HUL 53.44

2902 | Surinder Kumar Bhat | Check Pilot Kingfisher Airlines 53.43

2903 | Rajkumar Nagpal | Advisor The Indian Hotels 53.40

2904 | S.B. Bhaiya | President Orient Paper & Inds 53.39

2905 | S. Seshadri | Principal Consulting Engg ABB 53.37

2906 | Ashish Bafna | AGM ICICI Bank 53.37

2907 | Rajiv Goel | SVP Havells 53.36

2908 | H. Nandi | MD MRO-TEK 53.34

2909 | S. Narayanan | CMD MRO-TEK 53.34

2910 | M.A. Venkateshan | SVP JSW Steel 53.34

2911 | Pradeep Yadlapati | Manager Infosys 53.34

2912 | M. Gopikrishna | EVP & COO Voltas 53.33

2913 | Atul A. Kucheria | Captain Kingfisher Airlines 53.29

2914 | N.G. Kenneth | CMII ICICI Bank 53.29

2915 | Derrick G. Bark | Captain Kingfisher Airlines 53.29

2916 | Vinod Kumar Trivedi | VP Jubilant Organosys 53.26

2917 | T.D. Bahety | WTD Kanoria Chemicals 53.26

2918 | Brijesh Kumar Biyani | ED Dhunseri Petrochem & Tea 53.25

2919 | Nipun Talwar | RBM HUL 53.25

2920 | Vilas S. Satpute | SVP Lupin Pharma 53.25

2921 | Arvind Uppal | CMD Whirlpool 53.22

2922 | Pradeep Kumar Sharan | Captain Kingfisher Airlines 53.21

2923 | Rajesh Kumar | VP Dr. Reddy’s Labs 53.19

2924 | S.D. Naliwal | Director Jaiprakash Associates 53.17

2925 | Faisal Ali Khan | Captain Kingfisher Airlines 53.15

2926 | Anup Sachdeva | Jt President Uflex 53.13

2927 | H.R. Venkatesh | VP Wipro 53.12

2928 | V.Y. Gadre | President Atul 53.09

2929 | Anindya Banerjee | JGM ICICI Bank 53.08

2930 | N.R. Narayanan | CS HPCL 53.07

2931 | P.S. Jayaraman | Chairman Chemplast Sanmar 53.04

2932 | Govind Tiwari | DVP United Breweries 53.04

2933 | Jan S. Nielsen | GM Alfa Laval 53.04

2934 | Debasish Das | Div VP United Spirits 53.02

2935 | Anurag Mehrotra | VP Wipro 53.00

2936 | Kushi Ram Gupta | Director Lupin Pharma 52.99

2937 | Hall D. Thorton | Manager Voltas 52.98

2938 | Vikash Sharma | AGM ICICI Bank 52.97

2939 | Harish Solanki | Captain Kingfisher Airlines 52.96

2940 | R. Hura | Chief Operations Geologist Hindustan Oil Exploration 52.96

2941 | Amritesh Dev | SVP Jubilant Foodworks 52.96

2942 | Deepak Padaki | AVP Infosys 52.94

2943 | R. Murli | Business Director BASF 52.91

2944 | Shakti Arora | CCPO ACC ** 52.90

2945 | V.P. Garg | VP JSW Steel 52.90

2946 | Nagendra R. Prasad | AVP Infosys 52.86

2947 | Ashutosh Kumar Awasthi | CEO United Phosphorus 52.86

2948 | Nabarun Roy | AVP Infosys 52.85

2949 | B. Rajagopal | MD SI Group 52.84

2950 | B. Mandal | VP Siemens * 52.84

2951 | V. Aldo Osmundo Lopez | Captain Kingfisher Airlines 52.83

* Sept Year End; ** Dec Year End; $ Nov Year End; # June Year End

2802-2951

Page 31: Route to the Top-Highest-Paid Executives

u 98 u

u

Rank | Name | Designation Company Salary Rank | Name | Designation Company Salary Rank | Name | Designation Company Salary

In ` lakh

B u s i n e s s i n d i a u december 27, 2010–January 9, 2011The Highest Paid Executives

2952 | Sushil K. Kumra | VP Lupin Pharma 52.81

2953 | Nusli Wadia | Chairman Britannia Inds 52.80

2954 | Payal Pasricha | Captain Kingfisher Airlines 52.77

2955 | Bharat Goenka | Manager HUL 52.77

2956 | A.C. Muthiah | Chairman SPIC 52.76

2957 | Sanjeev Gupta | GM HUL 52.76

2958 | Nganiwe J. Kalinga | Captain Kingfisher Airlines 52.76

2959 | S.E. Pate | VP Siemens * 52.74

2960 | K. Adarsh | Head HUL 52.71

2961 | Atul Khosla | Director ACC ** 52.71

2962 | Sukhjeet Singh | VP Panacea Biotec 52.69

2963 | Pradeep Kulshrestha | EVP Punj Lloyd 52.69

2964 | Yogendra Kumar Saxena | Chief Jubilant Organosys 52.69

2965 | Simran P. Singh | Manager HUL 52.69

2966 | G. Gehani | Director & CS PSL 52.69

2967 | V.N. Deshpande | VP Greaves Cotton # 52.68

2968 | Gautam Chatterjee | VP Alembic 52.67

2969 | Chintan Bindra | Captain Kingfisher Airlines 52.66

2970 | Kailash Baheti | CEO & CFO Century Extrusions 52.66

2971 | Charles A. Masi | Captain Kingfisher Airlines 52.63

2972 | Debashish Shyam | Div VP United Spirits 52.62

2973 | Gautam R. Singh | SVP Bata India ** 52.61

2974 | J.V.B. Sastry | Director ACC ** 52.61

2975 | A.D. Ketkar | Chief Accounting Offcier Oracle Financial Services 52.60

2976 | Jeremy Dawson | Sales Manager R Systems Int’l ** 52.59

2977 | Patrick R. Tobin | Captain Kingfisher Airlines 52.57

2978 | Adarsh Bagaria | WTD Spanco 52.57

2979 | Ashokinder Singh | Captain Kingfisher Airlines 52.57

2980 | U.A. Joglekar | Captain Kingfisher Airlines 52.56

2981 | Amitabh Lahiri | SVP NIIT 52.55

2982 | P. Suresh | JGM ICICI Bank 52.53

2983 | G. Mahadev | Manager Infosys 52.52

2984 | Ramesh Suri | Chairman Subros 52.50

2985 | Karunakar J. Shetty | Head Panacea Biotec 52.48

2986 | Lalit Gupta | SVP United Spirits 52.48

2987 | S. Sharan | Chief Engineer Ambuja Cements ** 52.47

2988 | Sameer Ghatwal | Head GTL 52.44

2989 | B.N. Satheesha | AVP Infosys 52.44

2990 | Subrata Bose | Captain Kingfisher Airlines 52.43

2991 | Uday Shankar Jha | CMD RCF 52.43

2992 | Shashikant Jadhav | CPO GTL 52.42

2993 | S. Sangeetha | WTD Shanthi Gears 52.42

2994 | S. Dharmarajan | Div VP United Spirits 52.41

2995 | Renu Basu | VP The Indian Hotels 52.39

2996 | Martin S. Ghosh | VP Dr. Reddy’s Labs 52.37

2997 | Amar Bhatia | Captain Kingfisher Airlines 52.36

2998 | K. Suryanarayan | VP Oracle Financial Services 52.35

2999 | Praveen Sharma | Captain Kingfisher Airlines 52.33

* Sept Year End; ** Dec Year End; $ Nov Year End; # June Year End

3000 | Ulhas G. Pawar | SVP JSW Steel 52.33

3001 | Joen C. Thomsen | Sr Manager Alfa Laval 52.33

3002 | Deepak Mathur | President Garware Offshore 52.32

3003 | Vivek Sondhi | Captain Kingfisher Airlines 52.32

3004 | A. Suryanarayan | SVP Tube Investments of India 52.32

3005 | Davinder Nagi | Captain Kingfisher Airlines 52.31

3006 | Karl J. Katrak | Captain Kingfisher Airlines 52.30

3007 | G.L. Khetan | CGM Balrampur Chini Mills 52.30

3008 | Dilip K. Shetty | GM HDFC 52.30

3009 | Keyur Maniar | VP Wipro 52.29

3010 | N.K. Khetan | CGM Balrampur Chini Mills 52.27

3011 | Manoj Verma | Captain Kingfisher Airlines 52.23

3012 | Jimmy F. Moos | Examiner Kingfisher Airlines 52.23

3013 | Shafi Shaikh | GM Wipro 52.20

3014 | Krishnan S. Manian | Captain Kingfisher Airlines 52.20

3015 | Vishwas Santurkar | VP Wipro 52.18

3016 | Niraj Bajaj | CMD Mukand 52.15

3017 | Rajiv Battish | Captain Kingfisher Airlines 52.13

3018 | Aniruddha Haldar | Head Mahindra Holidays & Resorts 52.13

3019 | R.S. Joshi | Jt President Binani Cement 52.13

3020 | Parag Mehta | President & Head Thomas Cook ** 52.09

3021 | Rajnish Verma | Captain Kingfisher Airlines 52.08

3022 | Anil Chopra | Captain Kingfisher Airlines 52.05

3023 | V.V. Dikshit | VP Dr. Reddy’s Labs 52.04

3024 | P. Obul Reddy | Ex-MD Nippon 52.04

3025 | S.R. Jiwarajka | Ex-Jt MD Nippon 52.03

3026 | S.R. Subramanian | Chief Executive L&T 52.03

3027 | G.S. Nagappa | Div VP United Spirits 52.02

3028 | Uday N. Shenoy | Manager Punj Lloyd 52.01

3029 | Anil Srinivasan | COO Thomas Cook ** 52.01

3030 | Ashish K. Avarsekar | ED Unity Infraprojects 52.00

3031 | Nirmal Kumar Jain | VC & WTD JSW Energy 52.00

3032 | Omkar Goswami | Indep Director Infosys 52.00

3033 | Durllava Kumar Mishra | Captain Kingfisher Airlines 52.00

3034 | J.M. Mongia | Jt President Uflex 51.99

3035 | K.N. Reddy | VP Dr. Reddy’s Labs 51.98

3036 | Samir Kumar Modi | ED Godfrey Phillips 51.97

3037 | Ajit Jain | Director & COO Kopran 51.96

3038 | Anand Ramchandran | Director Britannia Inds 51.96

3039 | Rajiv Kumar | Director ACC ** 51.95

3040 | Veerendrarajan Verma | Captain Kingfisher Airlines 51.95

3041 | Manish Misra | GM ICICI Bank 51.94

3042 | Karunya Sukumar | Captain Kingfisher Airlines 51.93

3043 | M. Schubert | Engineer Siemens * 51.90

3044 | John A. Kattikaren | Asst VP JSW Steel 51.90

3045 | Gaurav Behal | Captain Kingfisher Airlines 51.88

3046 | Prafull J. Thakur | Captain Kingfisher Airlines 51.88

3047 | Bharat Sanghavi | CFO Peninsula Land 51.87

3048 | K.B. Bhosle | Manager HUL 51.87

3049 | Akhilesh D. Sharma | VP Dr. Reddy’s Labs 51.85

3050 | J.K. Somani | SVP HSIL 51.83

3051 | Petrica Vlaicu | Design Manager Voltas 51.83

3052 | S. Suryanarayanan | VP L&T 51.83

3053 | Shrikant Kulkarni | GM Dolphin Offshore 51.82

3054 | Shyam Vasudevrao | Director Philips Electronics 51.81

3055 | Fatma Zakaria | SVP The Indian Hotels 51.80

3056 | P. Parthasarathy | COO Ashok Leyland 51.80

3057 | Gauri Hari Singhania | Chairman JK Cements 51.80

3058 | S.M. Palia | Director Tata Motors 51.80

3059 | Sanjay R. Nambiar | Manager Infosys 51.79

3060 | N. Vyas | Head Siemens * 51.79

3061 | Ajit S. Deshmukh | VP L&T 51.76

3062 | Vijay Sharma | SVP Oracle Financial Services 51.76

3063 | Ranbir Singh | GM Wipro 51.75

3064 | Sanjiv Sharma | VP Panacea Biotec 51.75

3065 | Nikhil Mahajan | Captain Kingfisher Airlines 51.72

3066 | R.C. Rawat | SVP Kajaria Ceramics 51.70

3067 | Sangeetha Rajalakshmi | HRBP HUL 51.69

3068 | Satish Kumar Singh | DGM Kingfisher Airlines 51.69

3069 | V. Nachiappan | GM ICICI Bank 51.69

3070 | Kishore G. Chandiramani | VP United Phosphorus 51.68

3071 | Abhishek Bhandari | Captain Kingfisher Airlines 51.67

3072 | Meeta Singh | Head HUL 51.66

3073 | S.B. Banerjee | EVP Siemens * 51.66

3074 | Satish M. Kulkarni | Head Voltas 51.64

3075 | Sanjay Sudan | Captain Kingfisher Airlines 51.64

3076 | Princy Bhatnagar | ED Xerox India 51.63

3077 | Shirin Balsara | VP Bayer CropScience 51.63

3078 | Medha Dhargalkar | SVP Alembic 51.61

3079 | Mohan Venkatathatham | Manager Infosys 51.60

3080 | K. Visveswara Gupta | AVP Infosys 51.60

3081 | S.K. Mukherjee | MD Balmer Lawrie & Co 51.60

3082 | Vikas Bansal | HRBP HUL 51.56

3083 | Dhiraj B. Kanase | Captain Kingfisher Airlines 51.55

3084 | Avni Dogra | Captain Kingfisher Airlines 51.53

3085 | S. Gopal | MD Chemplast Sanmar 51.53

3086 | M.K. Goel | Director Power Finance Corp 51.53

3087 | Sujeet Singh | VP Hotel Leelaventure 51.52

3088 | Arpit Shah | Captain Kingfisher Airlines 51.50

3089 | Prem Thampi | DGM ICICI Bank 51.48

3090 | Sanjay Lodaya | Treasury Peninsula GTL 51.47

3091 | Vinay K. Goenka | Chairman Warren Tea 51.46

3092 | Kedar V. Ulman | EVP United Spirits 51.42

3093 | Hernan A. Bedoya | Captain Kingfisher Airlines 51.42

3094 | C. Kirthan Kumar | Captain Kingfisher Airlines 51.38

3095 | Nihal Desai | GM ICICI Bank 51.38

2952-3095

Page 32: Route to the Top-Highest-Paid Executives

u 100 u

u

Rank | Name | Designation Company Salary Rank | Name | Designation Company Salary Rank | Name | Designation Company Salary

In ` lakh

B u s i n e s s i n d i a u december 27, 2010–January 9, 2011The Highest Paid Executives

3096 | H.S. Rehal | Captain Kingfisher Airlines 51.37

3097 | V. Sankar | CFO Hinduja Foundries 51.37

3098 | Luis A. Aguilar | Captain Kingfisher Airlines 51.36

3099 | Pankaj Arora | Captain Kingfisher Airlines 51.35

3100 | Sandeep Kumar | VP Wipro 51.33

3101 | Deepak Rao | SVP Hexaware Tech ** 51.33

3102 | Y.V.S. Vijay Kumar | EVP Hindustan Motors 51.31

3103 | Birendra Verma | Captain Kingfisher Airlines 51.30

3104 | Gulshan Aghi | EVP Bajaj Electricals 51.29

3105 | Sumit Sabnis | Captain Kingfisher Airlines 51.29

3106 | Dragos Gheorghiu | Manager Voltas 51.28

3107 | Simi Kumar Chawla | VP The Indian Hotels 51.28

3108 | Shraman Jha | SVP NIIT 51.26

3109 | S.P. Bhatia | ED PSL 51.25

3110 | I.A.S. Balamuragan | JGM ICICI Bank 51.24

3111 | Andrew Robertson | Manager Voltas 51.24

3112 | Promit Moulik | Captain Kingfisher Airlines 51.23

3113 | P. Ravi | VP Alembic 51.21

3114 | P. Shridhar | Manager Britannia Inds 51.21

3115 | G.S. Rihal | Ex-MD Swaraj Engines 51.20

3116 | Lok Mishra | JGM ICICI Bank 51.18

3117 | Ali M. Surury | Captain Kingfisher Airlines 51.17

3118 | Anil Tharani | Captain Kingfisher Airlines 51.17

3119 | Ajay Sharma | JGM ICICI Bank 51.16

3120 | Asghar Ali | President Punj Lloyd 51.15

3121 | Sanjiv K. Menon | SVP Tube Investments of India 51.14

3122 | Tarique Ansari | MD Mid-Day Multimedia 51.13

3123 | Yasmin Cama | Sr Director Sanofi Aventis ** 51.12

3124 | D.K. Pande | Director ONGC 51.10

3125 | S.N. Kak | Chief Credit & Risk Officer Development Credit Bank 51.10

3126 | Anupindi S. Rao | Exec Pilot United Phosphorus 51.08

3127 | P.K. Tripathy | SVP Shree Cement 51.08

3128 | Ashish Ranjan | Captain Kingfisher Airlines 51.07

3129 | Narayan Raman | President Bajaj Hindusthan * 51.07

3130 | B.S. Reddy | President Patel Engg 51.06

3131 | Amol Sule | Manager Lupin Pharma 51.05

3132 | B. Jagetiya | VP Ambuja Cements ** 51.03

3133 | Chandra S. Divi | GM Divi’s Labs 51.00

3134 | M.K. Jain | Head Apollo Tyres 51.00

3135 | Urmeet Singh Juneja | VP GTL 50.99

3136 | Puneet Grover | Captain Kingfisher Airlines 50.99

3137 | Papiya Sarkar | GM Wipro 50.99

3138 | Subir K. Basak | Sr Director Dr. Reddy’s Labs 50.98

3139 | Bharath Raghavan | Div VP United Spirits 50.98

3140 | P.N. Anil Kumar | Manager Infosys 50.98

3141 | Prasenjit Saha | VP Wipro 50.96

3142 | R. Balasubramanian | MD Caprihans India 50.95

3143 | Baldev Singh | President & Sr ED R Systems Int’l ** 50.94

3144 | A.V. Kamath | VP Siemens * 50.94

3145 | Vinod Arora | Captain Kingfisher Airlines 50.93

3146 | Mahendra P. Sharma | Captain Kingfisher Airlines 50.92

3147 | P.K. Chakraborti | Director Indian Oil Corp 50.92

3148 | Uday Kumar Reddy | VP Hexaware Tech ** 50.91

3149 | V. Hariharan | Manager HUL 50.85

3150 | Sunil R. Gutte | Jt MD Sunil Hitech Engg 50.85

3151 | Mantha V.S. Sastry | Manager Punj Lloyd 50.85

3152 | B.K. Sharma | Captain Kingfisher Airlines 50.84

3153 | Ripujit Chaudhuri | JGM ICICI Bank 50.84

3154 | Aditya V. Agarwal | WTD Emami 50.83

3155 | John S. Edwards | Manager Voltas 50.83

3156 | Rajesh G. Chhoda | Captain Kingfisher Airlines 50.81

3157 | C.P. Ramesh | AVP HCC 50.81

3158 | B.P. Dhaka | COO Parsvnath Developers 50.80

3159 | Dheeraj P. Sinha | Head Apollo Tyres 50.80

3160 | S.P. Oberoi | COO Parsvnath Developers 50.80

3161 | U.N. Bose | Director ONGC 50.80

3162 | Anirudh Kamani | JGM ICICI Bank 50.79

3163 | C. Kartik | Brand Director HUL 50.79

3164 | Pradeep Bahirwani | VP Wipro 50.79

3165 | P.V. Jambu Natarajan | VP Oracle Financial Services 50.77

3166 | Mohan Jayaraman | JGM ICICI Bank 50.76

3167 | Deepak Bhagchandaney | Dy MD Spanco 50.75

3168 | A.R. Banerjee | Asst VP United Spirits 50.74

3169 | Ramesh Kumar Khaitan | VP Lupin Pharma 50.74

3170 | Muruga Vadivale | Sr Director Sanofi Aventis ** 50.72

3171 | T.V. Subramanian | Asst VP United Spirits 50.72

3172 | Kamalraj Singh | Captain Kingfisher Airlines 50.69

3173 | Ravi M. Kumar | VP Oracle Financial Services 50.69

3174 | Praveen P. Rao | Project Manager Infosys 50.69

3175 | Anjum N. Azmi | Captain Kingfisher Airlines 50.69

3176 | Bhuvanendran Kamak | JGM ICICI Bank 50.63

3177 | H.R. Mustikar | Ex-MD Kirloskar Pneumatic 50.63

3178 | Madhu Raghunath | Manager HUL 50.60

3179 | B. Mahapatra | Sr Project Manager Infosys 50.60

3180 | Ye Naing Htun | Captain Kingfisher Airlines 50.59

3181 | Ruma Kishore | Manager HUL 50.58

3182 | R.M. Nety | VP Ambuja Cements ** 50.58

3183 | M.L. Shanmukh | Director Bharat Bijlee 50.56

3184 | Vireshkumar H. Sheth | Sr Manager Biocon 50.55

3185 | Tarun Bhasin | SVP Jubilant Foodworks 50.54

3186 | J. Subbiah | CEO Bharati Shipyard 50.53

3187 | A.K. Balyan | Director ONGC 50.50

3188 | Ibrahim Ali | Advisor Binani Inds 50.50

3189 | Prashant Kulkarni | VP Wipro 50.47

3190 | Govind Iyengar | DVP United Breweries 50.47

3191 | Vishwanath Seshadri | GM ICICI Bank 50.47

3192 | Neeraj Jaitley | VP Wipro 50.46

3193 | Deepak Khanna | COO Ansal API 50.46

3194 | C.G. Belsare | Special Director Ashok Leyland 50.44

3195 | Rahul Singhal | Captain Kingfisher Airlines 50.43

3196 | K.S. Srinivasan | VP The Indian Hotels 50.42

3197 | Kishor Patil | MD & CEO KPIT Cummins Infosystems 50.40

3198 | Rajesh Ghonasgi | CFO Presistent Systems 50.38

3199 | Manjunath Desai | Head Britannia Inds 50.37

3200 | Ravikant Sabnavis | VP Kingfisher Airlines 50.37

3201 | Santosh C. Baptista | Captain Kingfisher Airlines 50.35

3202 | Arbind Jayaswal | MD Jayaswal Neco 50.34

3203 | B. Lalaji | VP Ambuja Cements ** 50.34

3204 | Rubi Arya | VP Kingfisher Airlines 50.33

3205 | Ramesh Jayaswal | Jt MD Jayaswal Neco 50.32

3206 | V.S. Walawalkar | GM Bajaj Auto 50.31

3207 | Shripad W. Gaitonde | VP HCC 50.31

3208 | Sujit K. Mandal | WTD IFCI 50.29

3209 | Kumudha Sridharan | VP Wipro 50.29

3210 | R. Kakkar | VP Samtel Color 50.27

3211 | Santosh Kumar | Ex-Director GAIL 50.27

3212 | A.B. Jhavar | Manager HUL 50.27

3213 | R. Wojiech | Engineer Siemens * 50.27

3214 | Nimishbhai U. Patel | ED Shri Dinesh Mills 50.26

3215 | A.K. Saxena | Director ACC ** 50.25

3216 | Sunil Suresh | Sr Brand Manager HUL 50.25

3217 | A. Chopra | RCO Siemens * 50.21

3218 | K. Ravindranath | EVP L&T 50.19

3219 | Lalit Kumar Modi | ED Godfrey Phillips 50.19

3220 | Lalit Kumar Pradhan | VP Jubilant Organosys 50.17

3221 | Vinod Hans | Director Federal-Mogul Goetze India 50.16

3222 | A. Charan | VP Tata Power 50.15

3223 | D. Ramesh | VP JSW Steel 50.15

3224 | R. Raghuram | MD Balaji Distilleries 50.15

3225 | Bhanumohan Kaila | Head Kingfisher Airlines 50.14

3226 | O.T. Aisueni | Sr Design Director Voltas 50.14

3227 | K. Prabhu | VP Siemens * 50.10

3228 | Anup Saha | JGM ICICI Bank 50.10

3229 | K.V. Sreenath | Sr GM United Breweries Holdings 50.10

3230 | B. Sherdiwala | Director ACC ** 50.09

3231 | R. Ramakrishnan | VP Wipro 50.07

3232 | S.V. Venkata | Manager Infosys 50.05

3233 | P.R. Kothari | EVP L&T 50.03

3234 | Arun Gupta | GM Dabur 50.02

3235 | Bineet Walia | SVP Tilaknagar Inds 50.00

3236 | Asraf Hossain | President Ankur Drugs 50.00

3237 | Biswarup Dhar | Ex-MD FAG Bearings ** 50.00

* Sept Year End; ** Dec Year End; $ Nov Year End; # June Year End

3096-3237