Nikhil Kamath net worth: Zerodha Founders Kamath Brothers is currently the top in terms of salary.
Nitin Kamath and his wife Seema Patil.
Nithin Kamath net worth: The way the stock market has boomed in this period of crisis, it has attracted a lot of retail investors. Brokerage firm Zerodha is currently at the forefront in the race to give retail investors an opportunity to earn from the stock market. You will be surprised to know the salary of the founders of the brokerage firm with the help of which you are earning money from the stock market. In the matter of salary, he has left behind the names of the country’s veteran industrialists like Mukesh Ambani, Gautam Adani, Azim Premji.
According to the Times of India report, the annual salary of Zerodha’s founders Kamath Brothers- Nikhil Kamath and Nitin Kamath and Nitin’s wife Seema Patil is 100-100 crores. That means the combined salary of all three is 300 crores. The board of the company has passed a resolution regarding this salary. Under this, the basic salary of these three will be 4.7-4.7 crores per month. Apart from this, many types of allowances have been included in it.
Second in Sun TV’s Kalanithi list
Talking about the highest paid bosses of the listed companies of the country for the financial year 2019-20, then the Kamath family is at the top. Then comes Sun TV’s Kalanithi Maran and Kaveri Kalanithi. His salary is 88-88 crores. After that comes Pawan Munjal of Hero Motor whose salary is 85 crores. The salary of Murli DV of DV Labs is 52 crores and the salary of Jaidev Gala of Amara Raja is Rs 45 crores.
Company’s profit doubled
Regarding his salary, Nitin Kamath said that passing the resolution does not mean that everyone has taken salary. At present, the company does not see the need for a stake sale to raise funds. In such a situation, funds are needed for the salary of the promoters, for which options like dividend and share buyback are available. He said that the company has made double profits in the financial year 2020-21. The company’s profit has been around 1000 crores in the last financial year.
What the law says
A limit has been fixed in the Companies Act regarding salary. However, section 197 of the Companies Act has exempted that the company can pay remuneration more than the limit to its employees. However, this proposal needs to be approved by the Board of Directors in the General Meeting.
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