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Meet Nikhil and Hital Meswani, The Cousins Who Are Reliance’s Highest-Paid Employees
Nikhil and Hital Meswani are Reliance’s highest-paid employees, making Rs 25 Crore each, Not Mukesh Ambani.
New Delhi: One might think that the highest-paid employee at Reliance Industries is its chairman, Mukesh Ambani. However, this is not the case. The honor actually belongs to his two cousins, Nikhil and Hital Meswani. These two are the driving force behind Reliance’s petrochemicals and refining businesses, and their contributions to the company’s success are undeniable. In recognition of their hard work and dedication, they are each compensated handsomely, with annual salaries of over Rs 24 crore.
About Nikhil Meswani
Meswani is the Executive Director and a Member of the Board of Reliance Industries Ltd., the flagship firm of the Reliance Group with headquarters in India and a Fortune 500 company. The group’s businesses include retail, oil and gas exploration and production, petrochemicals, petroleum refining and marketing, and synthetic fibers. In order to offer next-generation broadband services, Reliance is also actively engaged in the rollout of a national telecom network in India. By profession, Nikhil Meswani is a chemist. He joined Reliance in 1986 and has been a full-time Executive Director on the Company’s Board since July 1, 1988. He is primarily in charge of the company’s petrochemicals division and has had a significant impact on Reliance’s growth into a global leader in the industry, as per Indiatimes. Additionally, he still handles a number of other company duties like company Affairs and Group Taxation. He also participates in the affairs of the Indian Super League, the Mumbai Indians cricket team owned by Reliance, and other Company sports-related activities.
About Hital Meswani
Hital Meswani is the nephew of Mukesh Ambani and the son of Rasiklal Meswani. Trilochana, the mother of Hitel Meswani, was the older sister of RIL’s founder, Dhirubhai Ambani. Notably, Hital Meswani’s older brother, Nikhil Meswani, plays a significant role in Reliance Industries. Hital Meswani began working for RIL in 1990 and has been on the Reliance board since 1995. Moreover, Hital Meswani was crucial to the successful completion of a number of Reliance megaprojects, including the Hazira petrochemicals and Jamnagar refinery complexes. Hital Meswani attended the Wharton School in the US and graduated. Reliance Industries’ refinery and all other production facilities are under the direction of Hital Meswani, as per DNA.
Businesses That Hital Meswani Manages
Hital Meswani has been registered as a director of Reliance Petroleum Limited by the Ministry of Corporate Affairs (MCA). He is an Indian-born and resides in Mumbai, Maharashtra, India. Four of the eight businesses to which Hital Meswani is currently related are Reliance Petroleum Limited, Reliance Commercial Dealers Limited, Reliance Industrial Investments And Holdings Limited, and the Indian Film Combine Pvt. Ltd., which functions as a Full-Time Director for Reliance Industries Limited in the capacity of Nominee Director at Reliance Bp Mobility Limited.
Mukesh Ambani’s Salary Details
Mukesh Ambani capped his annual compensation at Rs 15 crore from financial year 2008-09 (April 2008 to March 2009) to FY20, and since FY21, he has chosen to forgo his salary due to the COVID-19 pandemic until the company and all of its businesses were fully back to their earning potential. Mukesh Ambani has not received a salary or profit-based commission for three years in a row, starting in FY21.
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