Tata Power posted its annual report for the year ended March 2024 on Friday evening.

What Happened: The energy company’s CEO Praveer Sinha was paid a total salary of ₹10.25 crore. This is an around 11% year-on-year increase. His basic salary and allowances for the year stood at ₹2.05 crore. He was paid a commission of ₹6.50 crore, perquisites & benefits worth ₹1.34 crore, and retirement benefits totalling ₹35.64 lakh.

His salary is 62 times greater than the median salary of the company. The median remuneration of employees went up by around 3.42% in the year. CFO Sanjeev Churiwala took home a salary of ₹6.86 crore.

Tata Group chairman N Chandrasekaran was paid around ₹2.4 lakh as sitting fees. As per policy, he has abstained from
receiving commission from the company.

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Sinha has over three decades of experience in the power sector and has been credited with transforming the power distribution sector as well as the development and setup of greenfield and brownfield power plants in India and abroad.

He holds a Master's Degree in Business Law from the National Law School, Bengaluru, and is professionally trained as an Electrical Engineer. He is a Research Scholar at the Indian Institute of Technology Delhi and a Visiting Scholar at the Massachusetts Institute of Technology, Boston, USA.

Before his appointment at Tata Power, Sinha served as the CEO & managing director of Tata Power Delhi Distribution Limited (Tata Power-DDL), a Public-Private Partnership (Joint Venture) between the company and the Government of the National Capital Territory of Delhi, which supplies power to over seven million people in North and North-West Delhi.

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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.