Indiabulls Ventures on Thursday said the company's senior management will take a pay cut of an average 50 per cent to control expenses during the lockdown period.
"The senior management of the company has decided to lead the efforts on expense control by volunteering to take pay cuts up to an average of 50 per cent for the current financial year, due to slowdown and difficulties caused by COVID 19," Indiabulls Ventures said in a regulatory filing.
Divyesh B Shah, Chief Executive Officer of Indiabulls Ventures, has opted to take a salary cut of 90 per cent, it added.
Pinank Jayant Shah, Chief Executive Officer of Indiabulls Consumer Finance Ltd has opted to take a salary cut of 50 per cent.
Indiabulls Ventures is part of Indiabulls Group.
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