₹1 crore in a year shrank as some took pay cuts in solidarity with staffers. But the decline, the first in years, was marginal: 293 directors earned ₹1 crore in 2020-21, down from 297, Mint calculations show.
Some industry experts attribute the inequity partly to the extra responsibility the top bosses shouldered in steering their companies through the unprecedented crisis.
But as recent face-offs at Eicher Motors and Balaji Telefilms show, shareholders are not too pleased, turning down several resolutions on board remuneration in recent months. “Barring a few industries that were particularly badly hit, many companies have done well in terms of pivoting to digital, relooking at their operations and supply chains, and taking out costs,"