Kalanithi Maran and his wife Kaveri Kalanithi, promoters of Sun TV Network Ltd, were the highest paid corporate executives in India for the third year in a row.

They took home a salary of 122 crore ( 61 crore each) in the year ended 31 March.

Their salary rose 2% from the previous year despite the profit of the media company being the same at 1,434 crore.

Onkar S. Kanwar, chairman and managing director of Apollo Tyres Ltd, climbed to the third position in 2014-15 from ninth last year.

Kanwar’s salary was 42 crore, a 32% annual increase. The company’s profit jumped 45% in the year ended 31 March.

Pawan Munjal, chairman and chief executive officers of Hero Motocorp Ltd, took the sharpest salary cut of 88% at 4.4 crore.

The company’s profit rose 13% to 2,386 crore in the year ended 31 March.

The cut pushed Munjal to the 139th position in 2014-15 from third in the previous year.

Lupin Ltd’s chairman Desh Bandhu Gupta retained the fourth position by earning a salary of 37 crore, the same as last year.

Jay Dev Galla, vice-chairman and managing director of Amara Raja Batteries Ltd, was the only newcomer among the top five.

Galla earned a salary of 34 crore.

A managing director may be paid remuneration either by way of a monthly payment or a specified percentage of net profit of a company, according to India’s companies law.

Such remuneration cannot exceed 10% (for all such directors) of the net profit of the firm except with the approval of the central government.

Mukesh Ambani, chairman and managing director of Reliance Industries Ltd, earned 15 crore, which was less than 1% of his company’s profit.

Despite his salary remaining the same, Ambani moved up five notches to the 21st rank from the previous year.

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