Mukesh Ambani kin emerges as Reliance's highest earner without CEO, IIT, IIM tags

By India Today Education Desk: Hital Meswani, a prominent figure within the corridors of Reliance Industries Limited (RIL), stands as a vital force behind India's richest person, Mukesh Ambani. Notably, while Meswani may not hold the position of CEO and may not boast degrees from prestigious institutions like IIT or IIM, his influence and contributions to RIL's monumental success are indisputable.

As the son of Rasiklal Meswani and the nephew of Mukesh Ambani, Hital's lineage is intertwined with the Ambani family legacy. His connection to RIL's founder, Dhirubhai Ambani, runs through his mother, Trilochana, who was Dhirubhai's elder sister.

Beyond the family tree, Hital's older brother, Nikhil Meswani, is another integral part of Reliance Industries, making the Meswani siblings a formidable presence within the conglomerate.

HITAL MESWANI'S JOURNEY

Hital Meswani's journey for RIL began in 1990, eventually landing him a seat on the company's board in 1995. His strategic contributions have been instrumental in overseeing the triumphant execution of significant projects, including the Hazira Petrochemicals and Jamnagar refinery complexes.

ABOUT HITAL MESWANI EDUCATION QUALIFICATION

• He is armed with a degree of Bachelor of Science in Economics from the prestigious Wharton School in the US.

• He was awarded an Honorary Fellowship by IChemE (Institution of Chemical Engineers - the International Professional body for Chemical, Biochemical and Process Engineers) in recognition of his contribution to the process industries. He was also conferred the Honorary CEPM-PMA Fellowship Award for Project Management Excellence in 2013.

• He is the recipient of The 2011 D. Robert Yarnall Award from The Engineering Alumni Society of the University of Pennsylvania.

• He was also conferred the Honorary CEPM-PMA Fellowship Award for Project Management Excellence.

• He is a member of the Finance Committee, Stakeholders Relationship Committee, Risk Management Committee and Chairman of the Health, Safety, and Environment Committee of the Company.

• He is a Director of Reliance Industrial Investments and Holdings Limited and Reliance Commercial Dealers Limited.

In the fiscal year 2021-22, Hital Meswani's remuneration totalled an impressive Rs 24 crore, a figure mirrored by his brother Nikhil Meswani. Their compensation positions them as the highest-paid executives within Reliance Industries, a testament to their pivotal roles in propelling the conglomerate forward.

Interestingly, it's worth noting that Mukesh Ambani himself has voluntarily limited his annual salary to Rs 15 crore since the fiscal year 2008-09. This commitment to fiscal restraint took on added significance during the pandemic, as Ambani chose to forgo his remuneration over the past two years in light of the challenges posed by the Covid-19 pandemic.

Recent records from Reliance indicate that Ambani's salary for the most recent period has been officially listed as 'nil,' underscoring his dedication to navigating the company through uncertain times.