Infrastructure India has announced that its logistics terminal in Bangalore is now up and running. They have agreed a ten year business plan for Distribution Logistics Infrastructure Private Limited, the 99.9% subsidiary that is running the business. Vikram Viswanath, a non-executive director of Infrastructure India, is taking up the role of “Advisor” to the management team of Distribution Logistics Infrastructure. The Board of Infrastructure India have agreed that he will get incentive payments of 30% of the income Distribution Logistics Infrastructure earns in excess of the business plan. the incentive is uncapped. If the business doesn’t beat the target, the Board say they might still pay him a bonus anyway. Vikram is the former chairman and managing director of Vikram Logistic & Maritime Services Private Limited, the forerunner of Distribution Logistics Infrastructure.
Separately, Infrastructure India are warning that there could be a knock-on effect on their business from the 24% increase in freight charges just announced by Indian railways. they say they will try to pass these costs through to their customers but there is no guarantee that they can recover the whole amount.
IIP : Infrastructure India sets up incentive scheme for director