Petronet LNG, India’s biggest liquefied natural gas importer, has paid a 12.5 per cent higher commission-on-profit to its chief executive Prabhat Singh and company directors in the fiscal year ended March 31, 2018.
According to the company’s Annual Report for 2017-18, Singh was paid a commission of Rs 22.50 lakh over and above his remuneration. This compared with Rs 20 lakh commission he got in the 2016-17 fiscal year.
Petronet Director (Technical) Rajender Singh earned a similar commission in both the years. The commission to Prabhat Singh took his total remuneration to Rs Rs 1.16 crore in 2017-18 as compared to Rs 1.08 crore in the previous fiscal.
Petronet, which is registered as a private limited company but is headed by the Oil Secretary, also paid its three independent directors Read More