Bharti Airtel to seek shareholders’ nod for waiver of recovery of excess pay to Sunil Mittal

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.

According to the regulatory filing, Mittal’s remuneration in 2018-19 was Rs21.19 crore more than the ceiling of 11% of the company’s net profit. 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.