Senior Officials of Indiabulls Housing Fin Take 35% Salary Cut On Average
New Delhi: The current corona virus pandemic has take a tol on the salaries of the senior management of Indiabulls Housing Finance Ltd. The senior officesr of the company have taken a voluntary cut of an average 35 percent in salaries for 2020-21 fiscal.
Sameer Gehlaut, Chairman of the company, has taken 100 percent cut in salaries for the current fiscal and MD and CEO Gagan Banga has taken 75 percent cut
"Sameer Gehlaut, Chairman, will be drawing NIL salary, while Gagan Banga, Vice-Chairman, MD & CEO, has opted to take 75 per cent cut on his salary," the company said in a regulatory filing.
Other senior officials have also taken a salary cut as a measure to contain costs and expenditure. There are serious business disruptions due to the lockdown announced by the government in the wake of corona virus outbreak.