Petronet LNG Ltd, India’s biggest gas importer, has sought shareholders’ approval to continue payment of commission to its directors, capped at 1 per cent of annual profits, for another five years from financial year 2026-27 to 2030-31.
The proposal, contained in the notice for the company’s forthcoming general meeting, seeks approval for distribution of a sum not exceeding 1 per cent per annum of profits calculated under Section 198 of the Companies Act, 2013, among the directors in such amounts and proportions as may be decided by the board from time to time.
Shareholders had last approved the commission arrangement at the annual general meeting held on September 28, 2021, for FY22 to FY26. The earlier approvals for similar payments were granted in 2007, 2011 and 2016, according to the shareholder notice.
The company said the proposed continuation was being sought in view of its “healthy financial position”.
For the fiscal year ended March 31, 2026, Petronet paid its CEO Akshay .
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