Chai Khana

SHOCKING ! An Executive Made ₹194 Million For Leaves He Didn’t Take

Dedication to your job can give you great results. We’re talking ₹194 Million million worth of result. But this dedication would obviously require you to not call in sick on Mondays just because mann nahi kara. On top of that, you will also have to be a chairman of a company.

All of this checked out for the recently retired non-executive chairman of Larsen & Toubro (L&T), Anil Manibhai Naik.

According to Business Insider, he made approximately ₹194 Million million last year for unused leaves in his career which spanned five decades.

Source: Business Today
Naik joined L&T as a junior engineer in 1965, rose through the ranks, and eventually steered the company’s entry into defence.
Source: Live Mint

As per L&T’s annual report, Naik earned ₹192 million last year after encashing all his accumulated leaves. His total payout, including his base salary of ₹27.3 million, came to ₹1.37 billion for the year.

And if the numbers are longer than your password, let us tell you that his retirement gratuity benefits and the exercise of his stock netted him more than ₹1 billion.

According to Business Insider, Naik, in 2016 announced that he would give away 75 per cent of his income to charitable causes over his lifetime.

Just waiting for my appraisal to add ₹5k more to my salary. *sigh*

 

The Dispatch is present across a number of social media platforms. Subscribe to our YouTube channel for exciting videos; join us on Facebook, Intagram and Twitter for quick updates and discussions. We are also available on the Telegram. Follow us on Pinterest for thousands of pictures and graphics. We care to respond to text messages on WhatsApp at 8082480136 [No calls accepted]. To contribute an article or pitch a story idea, write to us at [email protected] |Click to know more about The Dispatch, our standards and policies   

About the author

The Dispatch Staff

A News & Knowledge media startup in India, The Dispatch employs staff with best journalistic abilities. Our staff comes from diverse backgrounds such as history, culture, science and sports to security and global affairs. The staff at The Dispatch is committed to promptly respond to readers’ feedback. Write to us at [email protected]