Kavery Kalanithi is India's highest paid business woman

Kavery Kalanithi of Sun TV Group has retained her position as the country's top paid businesswoman, although her pay package declined to Rs 57 crore in 2012, according to Fortune magazine. The pay packet of Kavery Kalanithi, executive director of Sun TV Network and wife of Kalanithi Maran, declined to Rs 57 crore in 2012 from around Rs 72 crore last year.

In the Fortune list of top 10 most-paid businesswomen, Peninsula Land chairperson Urvi A. Piramal bagged the second rank with an annual pay package of Rs 7.3 crore.

Apollo Hospital Enterprises managing director Preetha Reddy came third with an annual pay packet of Rs 6.9 crore.

Vinita Singhania, MD of JK Laksmi Cement, with a pay packet of Rs 5.9 crore, came next.

She was followed by Vinita Bali, MD, Britannia Industries, who took home Rs 5.7 crore.

HDFC managing director Renu Sud Karnad, with a pay package of Rs 5.1 crore, was next. She was followed by Suneeta Reddy, joint MD, Apollo Hospitals, who had a package of Rs 5 crore.

ICICI Bank MD and CEO Chanda Kochhar, whose annual pay package is at Rs 4.24 crore, came eighth. Interestingly, Kochhar has been named as the most powerful woman in Indian business for the second consecutive year by Fortune. Among others in the highest paid women executives list are Sundram Fasteners joint MD Arathi Krishna (Rs 4 crore) and Rupa Gurunath, wholetime Director, India Cements (Rs 3.9 crore).

After Kochhar, TAFE chairperson Mallika Srinivasan comes next in the most powerful women executive category.

Capgemini India CEO Aruna Jayanthi stands third in the power list.