The co-founder of Fintech Unicorn Zerodha, Nithin and Nikhil Kamath, would take home Rs 100 crore, as shown by regulatory filings.
The Board of Directors of the start-up has adopted a special resolution sanctioning Nikhil Kamath and Nithin Kamath for yearly salary of up to Rs 100 crore. The newly appointed full-time director and wife, Nithin Seema Patil, is also eligible for the same big paycheque.
Rs 4,17 pounds a month plus bonuses and allowances from Rs 4,17 pounds will be the trio’s basic pay and a total “neat Rs 300 crore” of the family will take the yearly family back to their hometown – making them “the most well compensated co-founders of Indian startups”
The report added that Zerodha did not answer questions.
The startup list also includes Deep Zomato Goyal of Paytm, Vijay Shekhar Sharma of Paytm, Bhupinders Singh of InCred, Dream 11 Harsh Jain and Vinay Sanghi of CarTrade – who have each taken home in the FY20 yearly between Rs 3-6 crore.
In the meantime, Madhav Kota Subramanya, at addition to Patil, was also named full-time director in Zerodha, effective 10 May, for five years. His pay was fixed at Rs 2 crore p.a.
The Board of Directors has also passed a resolution, in addition to the payment details, to invest Zerodha’s surplus capital in other firms by way of loans, guarantees or bonds.
Zerodha is a corporation with financial services including retail and institutional broking, currencies and trading of goods, mutual funds and bonds on its internet. In Rs 1.093.64 crore, Entrackr reported a 15% increase in sales and Rs 442.3 crore profit in FY20.