All Work, All Pay! AM Naik, Former Chairman of L&T, Gets Rs 19 Crore as Leave Encashment For Not Taking Any Leaves in 50 Years
Naik joined L&T as junior engineer in 1965 and made his mark in the organisation and sector through his sheer business acumen. He is a son of a village primary school teacher in Gujarat.
Mumbai, January 29: The good old saying by parents that one is definitely rewarded if the person is regular and not miss a day of work just got real with news of Anil Manibhai Naik, former non-executive chairman of Larsen & Toubro getting paid Rs 19 crores for not taking a break (unused leaves) in a career that spanned 50 years.
Anil Manibhai Naik was also honoured with Padma Vibhushan on January 26, 2019. Padma Awards 2018: Full List With Names of Padma Vibhushan, Padma Bhushan and Padma Shri Awardees.
Read the L&T Technology Services Tweet Sharing the News About AM Naik Awarded the Padma Vibhushan:
A report in Business Insider said that Naik earned USD 2. 7 million, which translated to Rs 19 crores last year after he encashed all his leaves, which were pending from the last 50 years.
AM Naik's total earning for the year scaled to Rs ₹1.37 billion including his salary, the leaves encashed and other benefits.
Naik joined L&T as junior engineer in 1965 and made his mark in the organisation and sector through his sheer business acumen. He is a son of a village primary school teacher in Gujarat and as mentioned earlier, has also been awarded with India's second highest civilian honour, the Padma Vibhushan.
(The above story first appeared on LatestLY on Jan 29, 2019 06:26 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).