Chairman of Vedanta Resources Anil Agarwal gets 16% pay hike in 2011-12

Chairman of Vedanta Resources Anil Agarwal gets 16% pay hike in 2011-12

Chairman of Vedanta Resources, Anil Agarwal, got a little over 16 per cent hike in his annual remuneration to 2.01 million pounds (Rs 15.36 crore) in 2011—12.

Agarwal’s cumulative remuneration included annual performance bonus of 0.55 million pounds and payment of 56,000 pounds as benefits in kind to him for spearheading the mining and natural resources conglomerate, according to Vedanta’s annual report for 2011—12.

The total remuneration of Agarwal, who holds over 56 per cent stake in the London Stock Exchange listed firm, stood at 1.731 million pounds in 2010—11.

Vedanta has proposed a modest increase of 5.05 per cent in Agarwal’s annual base salary in the current fiscal (2012—13) to 1.475 million pounds, besides annual bonus and benefits in kind, according to the company’s annual report.