Airtel to seek shareholders’ nod for waiver of recovery of excess pay to 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 Rs 21.19 crore more than the ceiling of 11 per cent of the company’s net profit. Vittal was paid Rs 8.87 crore in excess of that limit in the last fiscal.