NEW DELHI: Bharti Airtel will seek shareholders' approval for a waiver of recovery of excess remuneration paid to company chairman Sunil Bharti Mittal and CEO Gopal Vittal in 2018-19, the telecom company said Sunday. Vittal was paid Rs8.87 crore in excess of that limit in the last fiscal. Bharti Airtel will seek the approval at its annual general meeting to be held on August 14 in New Delhi, the filing said. "...the approval of the members of the Company be and is hereby accorded to ratify and confirm the waiver of recovery of the excess remuneration amounting to Rs211.90 million paid to Mr Sunil Bharti Mittal, chairman for the financial year 2018-19," Bharti Airtel said. Total remuneration paid to Mittal was over Rs31 crore and Vittal was paid Rs20.9 crore against the ceiling of around Rs9.8 crore and Rs12 crore, respectively, for 2018-19.

Source: Mint July 21, 2019 14:48 UTC