Tata Group‘s Voltas released its annual report for the year ended March 2024.
What Happened: As per the report, the home appliances company’s CEO Pradeep Bakshi was paid a total remuneration of ₹7.21 crore for the year ended March 2024. His salary stood at ₹1.25 crore and his perquisites and allowances including retiral benefits was ₹2.90 crore. He was also paid commissions worth ₹3.06 crore. However, the company added that the commission amount is to be paid in FY25.
The company’s chairman Noel Tata was paid a total of ₹44.05 lakh for the year ended March 2024. Out of that, 38.05 lakh was commission to be paid in FY25 and the rest was sitting fees.
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Noel Tata is a prominent figure in the Tata Group, holding key positions in several of its companies. He serves as the chairman of Trent, Tata International, Voltas, and Tata Investment Corporation. Additionally, he is the vice chairman of Tata Steel and Titan.
Noel Tata and Ratan Tata share the same father, the late Naval Tata. Ratan is the son of Naval Tata and his first wife, Sooni Commissariat, while Noel is the son of Naval Tata and his second wife, Simone Tata (née Dunoyer), a businesswoman from Switzerland.
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