According to Suzlon’s annual report, Tanti’s salary as of July 2011 was $334,884 (INR 1.85 cr).
However, with the company posting a loss $86 million for the financial year ending March 31 2012 - largely due to the high cost of maintaining the company’s debt - the annual report confirms that Tanti’s salary has been cut by 74% to just $86,879 (INR 48 Lakh).
The Suzlon boss’s brother Vinod Tanti, who was an executive director at the turbine manufacturer until his recent appointment as COO of Repower, took a similarly large pay cut.
His salary as of July 2011 was $200,826 (INR 1.1 cr), but this has also been reduced to $86,879 (INR 48 Lakh).
