TATA Power wins National Award for Excellence in Corporate Governance
TATA Power, India’s largest integrated power utility, has been adjudged the best governed company and conferred with the prestigious National Award for Excellence in Corporate Governance for the year 2013.
Mr Arun Jaitley, Hon’ble Minister for Finance, Defence and Corporate Affairs, presided as Chief Guest at the award ceremony organised by The Institute of Company Secretaries of India in Kolkata. The award was received by Mr Ashok Sethi, COO & Executive Director on behalf of the Company. Mr Hanoz M Mistry, Company Secretary was also honoured as Company Secretary of the winning Company.
In pursuit of excellence and to identify, foster and reward the culture of evolving globally acceptable standards of corporate governance among Indian Companies, the ‘ICSI National Awards for Excellence in Corporate Governance’ was instituted by the ICSI in the year 2001, to recognise and honour the best governed companies as per five key parameters viz. Board Structure and Processes, Transparency and Disclosure Compliances, Stakeholders Value Enhancement, Corporate Social Responsibility and Sustainability.
A panel of judges evaluated companies on the basis of a questionnaire covering regulatory requirements, global best practices, excellence in governance performance and futuristic orientation in governance matters. The responses were then corroborated with the responses of the independent directors as well as media reports. The jury was headed by Hon’ble Mr Justice MN Venkatachaliah, Former Chief Justice of India.
Speaking on the achievement, Mr Anil Sardana, CEO and MM of TATA Power, said that “This is indeed a moment of great pride for TATA Power and we are delighted that our efforts have been appreciated at a national platform. The Company is committed to delivering excellence across all verticals and this recognition serves as further motivation in our efforts towards being a world class organisation. On behalf of all employees, I thank the jury members for recognising the hard work put in by Team TATA Power and guidance by its Board & Chairman on subjects of Governance which made this possible.”
Source – Strategic Research Institute, Steel Guru