Larsen and Toubro’s Chairman AM Naik is going to receive Rs 38.04 crore as retirement benefits as per the 72nd annual report of the company.

The company’s outgoing Chairman who rarely took leave during his 52 year old career will receive an encashment amount of accumulated past service leaves of Rs 32.21 crore.

AM Naik used to get a salary of Rs 3.36 crore and Rs 18.24 crore from commissions has also got per-requisites worth Rs 19.27 crore.

The calculated figures, overall, sum up to Rs 79 crore which the Chairman will be receiving for the year 2016-17 after his 52 years of services to L&T, that he had joined way back in 1965 as a system engineer.

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