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Deepak Nitrite Ltd. - Clarification On The News Item Titled HEG Boss Fat Pay Raises Eyebrows Published In Economic Times Dated July 26, 2019

| Updated on July 26, 2019 Published on July 26, 2019

This is in reference to the news item titled HEG Boss Fat Pay Raises Eyebrows published in Economic Times, Mumbai Edition on July 26, 2019.

In this regard, we would like to clarify that the remuneration of our Executive Director & CEO mentioned in the said news item as ` 58.89 crores during the Financial Year 2018-19 is incorrect and misleading.

The actual remuneration of Shri Umesh Asaikar as the Executive Director & CEO of the Company for the Financial Year 2018-19 is ` 5.89 crores which has also been disclosed under Corporate Governance Section of the 48th Annual Report of the Company on Page No. 121.

The relevant page of the 48th Annual Report is enclosed for your reference please.

We are also writing to the concerned news agency in this regard and requesting them to issue a corrigendum for publishing the misleading facts in the said newspaper.

Pdf Link: Deepak Nitrite Ltd. - Clarification On The News Item Titled HEG Boss Fat Pay Raises Eyebrows Published In Economic Times Dated July 26, 2019

Source : BSE - www.bseindia.com

Published on July 26, 2019
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