Newly appointed Infosys Chairman Nandan Nilekani will not draw any salary
Newly appointed Infosys Chairman Nandan Nilekani will not draw any salary
IT Giant Infosys On Friday Said That The Newly Appointed Non-executive Chairman And Non-independent Director Nandan Nilekani Will Not Draw Any Salary For His Current Tenure At The Company.
News Nation Bureau | Edited By : Gautam Lalotra | Updated on: 02 Sep 2017, 09:52:49 AM
New Delhi:
IT giant Infosys on Friday said that the newly appointed non-executive chairman and non-independent director Nandan Nilekani will not draw any salary for his current tenure at the company. Co-founder and former Chief Executive Mr Nilekani has a 0.93 per cent stake holding in the IT services firm.
Mumbai:
Infosys has vested employee stock options (ESOPs) of nearly Rs 40 crore to its top executives, including CEO Salil Parekh and COO Pravin Rao, a filing with US Securities and Exchange Commission (US SEC) showed on Wednesday.
Parekh, who completed three years at the helm of Infosys in January and helped it return to growth mode, received shares worth Rs 4.33 crore while Rao got Rs 1.94 crore of stock.
More than 30 executives, including CFO Nilanjan Roy, HR head Krishnamurthy Shankar, Presidents S. Ravi Kumar and Mohit Joshi also received shares of the company.
In a separate regulatory filing, Janhavi Nilekani, the daughter of Infosys Chairman Nandan Nilekani and part of the promoter group, gifted 777,600 equity shares worth Rs 106 crore to Tanush Nilekani Chandra, her son.
When courts give tax breaks
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startups have asked to be exempted from the so-called ‘
angel tax’. Now, a ruling by the Delhi High Court could protect all startups from this 30% tax, provided they stick to tried-and-tested ways of calculating their valuations.
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Delhi High Court gives startups a (tax) break
It’s no secret that, for a variety of reasons, many startups are overvalued. But the Delhi High Court has refused to tar them all with the same brush.
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