All posts tagged: IIM Rohtak

Did IIM Rohtak director receive ₹3.2 crore variable payout? Govt flags ’amount more than salary’

Dheeraj Sharma, the director of IIM Rohtak, has allegedly received significantly more variable pay than his salary and the government has written to the institution seeking a response while flagging objections from its Internal Audit Wing (IAW). According to the Indian Express report, the Ministry of Education (MoE) has flagged objections of its IAW about ₹3.2 crore variable pay paid to Sharma for the period of three years. The institute paid the amount for 2018-19, 2019-20 and 2020-21. The probe by the IAW found that the amount paid to Sharma, who is reportedly facing scrutiny for allegedly misrepresenting his educational qualifications, is significantly more and the procedure adopted for making payment of variable pay is ‘void’. In its report to the ministry, the IAW noted that variable pay is more than 200% of the Director’s total emoluments, when any system allows variable pay to be a percentage of a person’s total emoluments. President Droupadi Murmu, in her capacity as visitor of all IIMs, had received a set of complaints. Following that, those complaints were forwarded …

Centre flags 200% variable pay to IIM Rohtak director, institute denies wrongdoing: Report | Latest News India

Sep 04, 2024 02:48 PM IST The audit report submitted to the ministry flagged that variable pay component cannot be more than a certain percentage of salary. The ministry of education wrote to the Indian Institute of Management (IIM) Rohtak raising objections to findings by its Internal Audit Wing (IAW) that found the institute had paid around 200% of variable pay to its director Dheeraj Sharma from the financial year 2018-19 to 2020-21, The Indian Express has found. IIM Rohtak director Dheeraj Sharma(IIM Rohtak website) The audit wing found that variable pay released by the institute was around 200% of Sharma’s fixed salary in his capacity as IIM Rohtak’s director. Its report found that the formula adopted by the institute was “void” and went against financial prudence as variable pay can only be a percentage of a person’s total salary. The report also flagged to the ministry that the institute board approved Sharma’s variable pay component before the institute’s rules were notified under the IIM Act. The board also considered the institute’s financial health while …