India’s largest realty group DLF will next month seek shareholders’ nod for elevating Rahul Talwar, grandson of Chairman K P Singh, to the position of General Manager (Marketing) with nearly three-fold pay hike.
Rahul, son of K P Singh’s elder daughter Renuka Talwar, joined DLF India Ltd as a ‘senior management trainee’ last year with a pay package of Rs 57,725 per month, besides other benefits.
In a notice to shareholders for their Annual General Meeting on September 7, DLF has sought their approval for the elevation of Rahul Talwar as General Manager (Marketing) at its subsidiary company DIL with a maximum monthly pay package of Rs 1.8 lakh, besides other benefits.
Detailing terms and conditions for the elevation, DLF said in the explanatory statement of the shareholder notice that Rahul’s promotion would be effective from April 1, 2012.
The board of directors, at the recommendation of its remuneration committee, had approved this elevation on May 30, 2012, DLF said.
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