Sun TV's Maran, wife limit salary at Rs 74.1 cr in FY10

Media group Sun Television Network's Chairman Kalanithi Maran and Joint Managing Director Kavery Kalanithi took home a compensation of Rs 74.1 crore last fiscal, substantially less than the amount they were entitled to get.

Kalanithi and his wife Kavery were entitled for a total compensation of Rs 94.8 crore in the 2009-10 financial year.

Both capped their pay packets at Rs 74.1 crore for the second straight year and in 2008-09 financial year also they took the same renumeration.

Sun TV today said Kalanithi and Kavery decided to limit their remuneration for the last fiscal to be the same as in 2008-2009 fiscal at "Rs 741.6 million (Rs 74.1 crore) as against their entitlement of Rs 948 million (Rs 94.8 crore)".

"The decision was taken in line with their desire to moderate their compensation for the period," Sun TV said in a filing to the Bombay Stock Exchange (BSE).

Meanwhile, Sun TV saw their profit climb nearly 30 per cent to Rs 567.38 crore for the financial year ended March 31.

In the backdrop of the global financial meltdown, Corporate Affairs Minister Salman Khurshid had last year advised the industry to shun "vulgar" salaries and Planning Commission Deputy Chairman Montek Singh Ahluwalia too agreed that there should be no "indecent" compensation.

Reliance Industries chief Mukesh Ambani too capped his salary for the second consecutive year at Rs 15 crore, less than half of what he is eligible to draw. In FY10 and FY09, he received a compensation of Rs 15 crore.

Shares of Sun TV closed down nearly 1 per cent at Rs 399.75 on the BSE.