Retiring L&T Chairman AM Naik to get ₹32 cr leave encashment

Construction giant Larsen and Toubro's (L&T) Group Executive Chairman AM Naik, who will retire on September 30, will get ₹32.21 crore as leave encashment as part of ₹38.04 crore retirement benefits. Naik has served for over 52 years at L&T, including as its head for over 17 years. Further, including perquisites and commission, Naik will get ₹78.9 crore for 2016-17.