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SES: Harsh Goenka 300 Times Better?

Published on Wed, Jul 11,2012 | 19:58, Updated at Thu, Jul 12 at 08:23Source : Moneycontrol.com 

In this report SES raises the issue of director compensation at KEC. The report points out  that KEC has stated 'that the commission is distributed on the basis of qualifications, experience, directorships in other companies having diverse business, time spent, inputs, guidance and contribution received from each of the NEDs. Out of total Rs.880 Lac paid as commission, a whooping Rs 859 lakhs was paid to Mr. H V Goenka while the other seven directors shared Rs.21 lakhs (Rs.3 lakhs each). This reveals that if one goes by the stated method of distribution, then Mr. Goenka was almost 300 times better than any other director or the contribution of other directors was insignificant and was almost negligible at just 1/300th of contribution by Mr. Goenka.'

For more please read the attached report.

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Attachments : SES _Proxy Advisory Services_KEC_June_2012.pdf
 
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