About 3,000 executives took pay reductions of up to 20% for three months.
Said the 'fight is only starting' as the world begins to emerge from lockdown.
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A number of holding companies say they will not enter the awards, while others have yet to decide.
'The last 12 months have been a tough fight for transformation, but without a doubt a necessary one,' holding company chief said.
Moves from 82.5 where he was the creative head, North India
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