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From Ambanis and <keyword id="261423" type="COMPANY" weightage="100" keywordseo="Adanis">Adanis</keyword> to <keyword id="3686670" type="UNKNOWN" weightage="20" keywordseo="premjis">Premjis</keyword> and <keyword id="242899" type="ORGANIZATION" weightage="20" keywordseo="Khorakiwalas">Khorakiwalas</keyword>, several generation-next leaders of India's leading family-run businesses have joined crorepati club when it comes to their salaries and other perks. 
 
With a number of corporate houses promoting sons and daughters of their promoters to leadership positions, many of these companies have begun giving hefty remuneration packages to them for their "increased responsibilities" and "active involvement" in exploring new business opportunities, as per a news report by an agency. 
 Still, the annual pay of these next-generation leaders remains relatively low, as against the overall average payout of over Rs 20 crore for CEOs of India's top-listed companies forming part of <keyword id="6484188" type="CITY" weightage="20" keywordseo="Sensex">Sensex</keyword> and only a fraction of the same in the US at close to $20 million (about Rs 130 crore). 
 <keyword id="6369979" type="COMPANY" weightage="20" keywordseo="Gujarati">Gujarati</keyword> industrialist <keyword id="111343" type="PERSON" weightage="20" keywordseo="Gautam-Adani">Gautam Adani</keyword>'s son <keyword id="443" type="ENTERTAINMENT" weightage="20" keywordseo="Karan">Karan</keyword>, who was appointed CEO of <keyword id="1016113" type="UNKNOWN" weightage="20" keywordseo="Adani-Ports-and-Special-Economic-Zone-Ltd">Adani Ports and Special Economic Zone Ltd</keyword>, did not draw any remuneration from the company for fiscal 2015-16, but the board has approved an annual remuneration for him of up to Rs 1.5 crore, including salary, perks and other benefits, with effect from September 1, 2016. 
 
As Chairman and Managing Director of the company, Gautam Adani got total remuneration of Rs 2.8 crore in 2015-16, while Whole Time Director Malay Mahadevia got Rs 10.7 crore. 
 In case of <keyword id="9171" type="PERSON" weightage="20" keywordseo="Anil-Ambani">Anil Ambani</keyword>'s son <keyword id="141180" type="PERSON" weightage="20" keywordseo="Anmol">Anmol</keyword>, who was recently appointed as Director on the board of the group's financial services arm <keyword id="6360090" type="CITY" weightage="20" keywordseo="Reliance-Capital">Reliance Capital</keyword>, the company has proposed a salary of Rs 10 lakh per month. 
 Reliance <keyword id="36749" type="ORGANIZATION" weightage="20" keywordseo="capital">Capital</keyword> will seek shareholders' approval on the upcoming AGM on September 27 for various proposals, including <keyword id="3591294" type="PERSON" weightage="20" keywordseo="Anmol-Ambani">Anmol Ambani</keyword>'s appointment as Executive Director for a period of five years as well as for the remuneration to be paid. 
 
In the shareholders' notice, the company said his salary would be Rs 10 lakh per month. 
 In addition to the salary, perquisites and allowances, he will also be entitled to receive commission based on next profit of the company. Anmol,24, has been working in various financial services businesses within Reliance Capital since 2014 and has a degree from <keyword id="174907" type="ORGANIZATION" weightage="20" keywordseo="Warwick-Business-School">Warwick Business School</keyword> in the UK. 
 Salaries of <keyword id="3820" type="PERSON" weightage="20" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword>'s children -- <keyword id="8372" type="PERSON" weightage="20" keywordseo="Akash">Akash</keyword> and <keyword id="2464" type="PERSON" weightage="20" keywordseo="Isha">Isha</keyword> -- could not be ascertained, though they are said to be playing key roles in <keyword id="6355199" type="CITY" weightage="20" keywordseo="Reliance-Industries">Reliance Industries</keyword> group's telecom and retail ventures. 
 <keyword id="267060" type="PERSON" weightage="20" keywordseo="Sudarshan-Venu">Sudarshan Venu</keyword>, son of TVS Motor's <keyword id="130465" type="PERSON" weightage="20" keywordseo="Venu-Srinivasan">Venu Srinivasan</keyword>, got annual remuneration of Rs 9.59 crore for 2015-16, while the company last month sought shareholders' approval for revising his remuneration as Joint Managing Director. 
 
Explaining the proposal, the company said in its AGM notice, "The board reviewed the remuneration payable to him after taking into consideration his active involvement in all spheres of management for exploring business opportunities both in India and abroad and felt that, JMD can be compensated by way of enhanced commission. 
 
"The board was of the opinion that the existing remuneration was considerably inadequate, when compared with the industry norms and similarly placed senior management personnel of the company."

The new generation of Ambanis
and Adanis joins the crorepati club

New Delhi, Jan 15 () Industry body Indian Pharmaceutical Alliance (IPA) on Wednesday said there was no discussion on 'uniform code for pharmaceutical marketing practices' in the meeting convened by Prime Minister Narendra Modi with the healthcare industry on January 1.
 The meeting was called to discuss future road map for growth of the healthcare industry, the IPA said in a statement.
 The focus of the discussion was to promote research and development, build innovation ecosystem, improve access to high-quality medicine and strengthen global competitiveness of the industry, it added.
 The purpose was to take the industry to the next level and leverage opportunities going forward in the pharmaceutical sector besides discussing growth opportunities in the Medtech and hospital sector, IPA said.
 "There was no discussion on uniform code for pharmaceutical marketing practices in the meeting," it added.
 The industry body was reacting to media reports that said the prime minister had warned India's top pharmaceutical companies to strictly adhere to marketing ethics, and not to bribe doctors with women, foreign trips and gadgets.
 The meeting was attended by leading figures such as Satish Reddy from Dr Reddy's, Ajay Piramal from Piramal Group, Pankaj Patel from Cadila Healthcare, Dilip Shanghvi from Sun Pharma, Dr Habil Khorakiwala from Wockhardt and Shobana Kamineni from Apollo Hospitals Group, the statement said. AKT HRS

No discussion on uniform code for pharmaceutical marketing practices in meeting with PM: IPA

New Delhi, Jan 15 () Industry body Indian Pharmaceutical Alliance (IPA) on Wednesday said there was no discussion on 'uniform code for pharmaceutical marketing practice' in the meeting convened by Prime Minister Narendra Modi with the healthcare industry on January 1.
 The meeting was called to discuss future road map for growth of the healthcare industry, the IPA said in a statement.
 The focus of the discussion was to promote research and development, build innovation ecosystem, improve access to high-quality medicine and strengthen global competitiveness of the industry, it added.
 The purpose was to take the industry to the next level and leverage opportunities going forward in the pharmaceutical sector besides discussing growth opportunities in the Medtech and hospital sector, IPA said.
 "There was no discussion on uniform code for pharmaceutical marketing practice in the meeting," it added.
 The industry body was reacting to media reports that said the prime minister had warned India's top pharmaceutical companies to strictly adhere to marketing ethics, and not to bribe doctors with women, foreign trips and gadgets.
 The meeting was attended by leading figures such as Satish Reddy from Dr Reddy's, Ajay Piramal from Piramal Group, Pankaj Patel from Cadila Healthcare, Dilip Shanghvi from Sun Pharma, Dr Habil Khorakiwala from Wockhardt and Shobana Kamineni from Apollo Hospitals Group, the statement said. AKT HRS

No discussion on uniform code for pharmaceutical marketing practice in meeting with PM: IPA

New Delhi, Jan 16 () Drug firm Wockhardt on Thursday said that it has received approval from the Drug Controller General of India for its two new antibiotics.
 "DCGI (Drug Controller General of India) has approved Wockhardt's two new antibiotics, EMROK (IV) and EMROK 0 (Oral), for acute bacterial skin and skin structure infections including diabetic foot infections and concurrent bacteraemia...," the drug firm said in a regulatory filing.
 The new drug will target superbug like Methicillin resistant Staphylococcus aureus (MRSA), which is a leading cause of rising antimicrobial resistance (AMR).
 "By virtue of its broad spectrum activity against widely prevalent pathogens including MRSA, superior safety over currently available anti-MRSA agents and its unique properties, I believe EMROK/EMROK-O has a strong potential to effectively address the unmet medical need of the clinicians in the country thereby helping to reduce the morbidity and mortality," Wockhardt Group founder chairman Habil Khorakiwala said.
 The size of Indian antibiotic market is around Rs 16,000 crore.
 AMR is a major public health problem globally. India carries one of the largest burdens of drug-resistant pathogens worldwide.
 Infections caused by drug-resistant organisms could lead to increased mortality and prolonged duration of hospitalisation, causing a huge financial burden to the affected persons, health-care systems, and hinder the goals of sustainable development.
 Two million deaths are projected to occur in India due to AMR by the year 2050, the company said.
 Currently available anti-MRSA agents have multiple side effects such as kidney damage, decrease in platelet cell counts and muscle pain, which limits their use for a longer period and compromise the safety of critically ill patients in the ICU. SID DRR

Wockhardt gets DGCI approval for 2 new antibiotics

<ul><li>One of India’s oldest drug manufacturers, <keyword id="45004" type="DOMAIN" weightage="20" keywordseo="Wockhardt">Wockhardt</keyword> is working on a deal to sell 46% of its stake in the domestic market. </li><li><keyword id="218609" type="COMPANY" weightage="20" keywordseo="Apax-Partners">Apax Partners</keyword>, Blackstone, Carlyle and KKR who are in the race for the ₹40-45 billion deal, have indicated interest to take up 51% shares. </li><li>Wockhardt is the 22nd largest drug maker in India with 1.07% of domestic market share. </li></ul>One of India’s oldest drug makers, Wockhardt is looking to sell its domestic pharmaceutical business. The drug-maker who has a wide chunk of interests in the US and Europe ---- is in talks with buyout funds Apax Partners, Blackstone, Carlyle and KKR to offload India business, <a href="https://economictimes.indiatimes.com/industry/healthcare/biotech/pharmaceuticals/buyout-giants-in-talks-with-wockhardt-for-domestic-formulations-business/articleshow/70065629.cms?from=mdr">according to reports</a>. Habil Khorakiwala, owner of Wockhardt is willing to sell 40% shareholding in the firm. Companies in the race however individually indicated that they are interested in buying at least 51% stake and its controlling powers. The deal, when finalised, could value the drug manufacturing business at ₹40-45 billion. It might be a tough race for the buyer as another top Indian drugmaker Torrent Pharma has also shown keen interest in the company. The deal is set to come amidst increasing debt problems for Wockhardt, which has piled up as much as ₹ 24.53 billion. However, the losing streak for Wockhardt seems to be coming to an end. The company’s revenues stood at ₹41.58 billion for the fourth quarter, with its India business contributing 36%. Its European Union business contributed 32%, whereas 19% is accounted to the business in the US, <a href="https://economictimes.indiatimes.com/industry/healthcare/biotech/pharmaceuticals/buyout-giants-in-talks-with-wockhardt-for-domestic-formulations-business/articleshow/70065629.cms?from=mdr">as per reports</a>. Wockhardt had posted a loss of ₹ 6.08 billion in 2018. The firm is the 22nd largest pharma company in India with significant presence in cardiology, dermatology, diabetes, respiratory diseases and ophthalmology medicines. It laos launched nine new brands this year, like Aceroc, Biovac-B, Brozedex, Clopione and Zedex. The firm’s market share in April 2019 stood at 1.07%, in a heavily fragmented Indian drug market. “The domestic business is strong and has good growth potential,” said a top executive of a global private equity buyout fund. But the company’s weak finances have remained a concern for analysts.

Debt-laden Wockhardt is in talks with buyout giants to sell its India business

Forbes magazine has placed India at the fourth place in its list of countries with the highest number of billionaires, and once again <keyword id="6355199" type="CITY" weightage="20" keywordseo="Reliance-Industries">Reliance Industries</keyword> chief <keyword id="3820" type="PERSON" weightage="100" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword> has been named the richest Indian. 
 
The list, called 'World's Billionaires' 2017, has 2,043 names in it, who have a combined net worth of $7.67 trillion. In comparison to last year, this figure is up by a record 18%. 
 
Microsoft co-founder <a href="http://www.businessinsider.in/bill-gates-is-largely-optimistic-about-the-future-but-a-key-tenet-of-the-trump-administration-worries-him/articleshow/57635057.cms">Bill Gates</a> tops the list for the fourth year in a row, with a fortune of $86 billion. Last year, this figure stood at $75 billion. Berkshire Hathaway chief <a href="http://www.businessinsider.in/its-all-mental-with-him-warren-buffetts-late-wife-revealed-why-it-took-the-billionaire-so-many-years-to-start-giving-away-his-fortune/articleshow/56902258.cms">Warren Buffet</a> stands second with a new worth of $75.6 billion. 
 
The third place in the list has been grabbed by Amazon's Jeff Bezos with $72.8 billion net worth. 
 
<a href="http://www.businessinsider.in/11-billionaires-hit-hard-by-demonetisation-mukesh-ambani-still-the-richest/articleshow/57519993.cms">Mukesh Ambani</a>, with $23.2 billion, stands 33rd in the list. His younger brother <a href="http://www.businessinsider.in/anil-ambanis-reliance-capital-sells-paytm-stake-to-alibaba-for-rs-275-crore/articleshow/57513421.cms">Anil Ambani</a>, however, ranks 745th with a net worth of $2.7 billion. 
 
Also read: <a href="http://www.businessinsider.in/mukesh-ambani-knows-what-the-millennials-want-heres-how/articleshow/57390611.cms">Mukesh Ambani knows what the millennials want. Here’s how</a> 
 
Talking of countries, India homes 101 billionaires, crossing the 100 mark with for the first time, standing fourth after USA (565), China (319), and Germany (114). 
 There are only four women billionaires from India, viz. <keyword id="51618" type="PERSON" weightage="20" keywordseo="Savitri-Jindal">Savitri Jindal</keyword> and her family (303rd position), Smita Crishna-Godrej (814th), Biocon founder Kiran Mazumdar-Shaw (973) and Leena Tewari (1030). 
 Other Indians in the list are <keyword id="6419840" type="PERSON" weightage="20" keywordseo="Azim-Premji">Azim Premji</keyword> (72nd), <keyword id="111343" type="PERSON" weightage="20" keywordseo="Gautam-Adani">Gautam Adani</keyword> (250th), <keyword id="33278" type="PERSON" weightage="20" keywordseo="Rahul-Bajaj">Rahul Bajaj</keyword> (544th), Acharya Balkrishna (814th), <keyword id="6398943" type="PERSON" weightage="20" keywordseo="Rakesh-Jhunjhunwala">Rakesh Jhunjhunwala</keyword> (939th), NR Narayana Murthy (1161st), Vivek Chand Burman and <keyword id="44604" type="PERSON" weightage="20" keywordseo="Nandan-Nilekani">Nandan Nilekani</keyword> (tied at 1290th), Vijay Shekhar Sharma and Habil Khorakiwala (1567th), <keyword id="46425" type="PERSON" weightage="20" keywordseo="Anand-Mahindra">Anand Mahindra</keyword> (1567th), Niranjan and Surendra Hiranandani (tied at 1678th), and Rana Kapoor (1795th). 
 
(Image source: <keyword id="375775" type="COMPANY" weightage="20" keywordseo="Forbes-India">Forbes India</keyword>)

You Searched For "Khorakiwalas" and got 7 results

The new generation of Ambanis and Adanis joins the crorepati club

BI India Bureau

No discussion on uniform code for pharmaceutical marketing practices in meeting with PM: IPA

PTI

No discussion on uniform code for pharmaceutical marketing practice in meeting with PM: IPA

PTI

Wockhardt gets DGCI approval for 2 new antibiotics

PTI

Debt-laden Wockhardt is in talks with buyout giants to sell its India business

BI India Bureau

India ranks fourth in Forbes list of most billionaires, Mukesh Ambani richest Indian again

BI India Bureau

Maharashtra identified 14 districts as red zones— here’s the complete list of containment zones in Mumbai and Pune

Navdeep Yadav

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