Vodafone Idea managing director and chief executive officer Ravinder Takkar will not be given any remuneration during his current tenure of three years, according to a proposal by the company.

Vodafone Idea may bear expenses incurred by Takkar for the business of the company, the notice for the 25th annual general meeting stated.

The AGM is scheduled to be held on September 30.

VIL appointed Takkar as its MD and CEO following the resignation of Balesh Sharma from the post.

According to the notice, Takkar has been appointed as MD and CEO for a period of three years with effect from August 19, 2019. He will be given “nil remuneration”.

His predecessor Sharma was paid Rs 8.59 crore in remuneration during his tenure and he was not entitled to any increase in the remuneration during 2019-20.

Other terms of Takkar’s appointment provide that “the company may bear all the expenses relating to travelling, lodging, entertainment and all other incidental expenses for the business of the company as per policy of the company.

Takkar will not be “paid any sitting fees for attending the meetings of the board of directors or any committee(s) thereof”, the notice said.