From Gopal Vittal to Sudhir Mehta, CEOs rake in moolah amid falling profits

Besides Apollo Tyres, 26 large listed firms give double-digit hikes to top executives despite a decline in net profit

A special resolution to reappoint Neeraj Kanwar managing director of Apollo Tyres did not go through as minority shareholders were not in approval.  

“Apollo Tyres’ board of directors will discuss the resolution in the next meeting and determine the course of action to be taken,” a spokesperson for the company said in a statement.

Only 72.72 per cent of shareholders voted in favour of the resolution, which required a minimum of 75 per cent shareholders voting for it. Over 56 per cent of the public institutions category and nearly 49 per cent of the non-public shareholders voted against the reappointment.