Mumbai: Dilip Sanghavi, the chairman of Sun Pharmaceuticals Ltd, slipped five spots to the 10th place in the IIFL Wealth-Hurun India Rich List 2019 due to a 20% on-year fall in his wealth to Rs 715 bn. The fall in ranking comes at a time when there have been concern over financial irregularities and corporate governance issues at the company.
Mukesh Ambani, chairman of Reliance Industries, retained the top position in the list for the eighth consecutive year, with a net worth of Rs 3.81 trn.
Gautam Adani and the family bagged the fifth position in 'IIFL Wealth-Hurun India Rich List', up from the eighth position last year, with a total wealth of Rs 945 bn.
The report showed that Ambani's wealth was more than the combined wealth of Hinduja and Family, and Azim Premji, the chairman of Wipro Ltd.
According to the report, the country added 122 individuals, whose net worth was Rs 10 bn or more.
However, the pharmaceutical sector dominated by adding 33 new individuals to the list followed by food and beverages, and jewellery where they added 23 and 18 individuals, respectively. Mumbai is the hub of the rich and famous - with 243 names hailing from the city, followed by New Delhi and Bengaluru.