The salaries of Bhavdeep Singh, the chief executive officer (CEO) of Fortis Healthcare Limited, rose fourfold between July 2015 and March 2017. That too when the company's financial condition was not well.
In the 2015-16 and 2016-17 annual report of the company, it has been said that Bhavdeep Singh was kept on a salary of Rs 3.91 crore in July 2015. His salary increased to Rs 16.80 crores next year. Not only that, a bonus of Rs 7.23 crore was also given to him for company joining. Apart from this, 25 lakh shares were also given to Bhavdeep Singh. The special thing is that Fortis Healthcare suffered a loss of Rs 73.5 crore in 2015-16, while being under the CEO of Bhavdeep Singh. However, in the next year i.e. in 2016-17 these losses have increased to 74.7 million rupees. This information is given in a report of 'Mint'. When Mint asked for a response from the company on email, the spokesperson of the Fortis said, "This information is wrong, in fact, some typing mistake was there in the annual report of the financial year 2016-17. And this mistake will be corrected in the 2017-18 report. In reality, in the last two years, their income has increased by 6 to 8% every year, which is not much as per the norms of the country today." For the first time since 2008-09, Fortis showed a loss of Rs 34 crore in 2014-15. Shriram Subramaniam, founder and managing director of Proxy firm Engon Research, said, "Despite the poor performance of the company, the CEO's salary was increased so that the CEO could remain silent and keep supporting the wrong thing." Also Read:
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