The Indian Executive Newsmakers

Naveen Jindal, Chairman and Managing Director of Jindal Steel & Power:

Naveen Jindal is second in the power list this month. The reason for this is the company is among those a government panel is reviewing for a delay in developing coal blocks it has been allotted. In the allocations, Jindal’s company appeared as the biggest beneficiary. It was allocated nine coal blocks with geological reserves of 2.58 billion tonnes or 6 percent of the entire reserves allotted. Until now, the panel has recommended withdrawal of 11 coal blocks and deduction in the bank guarantee of 14 companies.

The chairman of Jindal Steel & Power was also very recently in news for topping the executive pay charts for listed companies in the country with a package of Rs 73.42 crore for the last fiscal 2011-12, which grew by over Rs six crore from previous year. He has remained the top-paid executive for the second consecutive year now.