Tata Steel felicitated for its excellence in Corporate Governance
~Steel giant conferred the certificate of recognition at the 14th ICSI National Awards for Excellence in Corporate Governance~
Tata Steel today was conferred the prestigious certificate of recognition by the Institute of Companies Secretaries of India (ICSI) for its excellence in Corporate Governance. The steel giant was chosen among the top 5 companies in India for consistently fostering excellence in corporate governance practices. The Company was conferred the Certificate of Recognition at the 14th ICSI National Awards for excellence in Corporate Governance presentation ceremony held at New Delhi on 19th December 2014.
Mr Chanakya Chaudhary, Group Director, Corporate Communications & Regulatory Affairs, Tata Steel was present on the occasion to receive the honour on behalf of Tata Steel. The certificate was presented to Tata Steel by Mr Sadananda Gowda, Hon'ble Minister for Law and Justice, Govt. of India. Also present at the event was Smt. Meenakshi Lekhi, Member of Parliament. The ICSI jury this year comprised galaxy of eminent personalities, headed by Hon'ble Justice Mr M N Venkatachaliah, former Chief Justice of India.
On receiving the august recognition from one of the pioneer institutes of the country, Mr Chaudhary said, "We at Tata Steel are delighted to be chosen for the Certificate of Recognition for Excellence in Corporate Governance. It's a recognition which identifies the company's corporate governance philosophy which emphasises in adopting the 'best practices' that are followed in the area of Corporate Governance across various geographies. The philosophy of Corporate Governance at Tata Steel is an integral part of the growth strategy and reinforces our vision in complete transparency and accountability in all the transactions, in order to protect the interests of its stakeholders". He further added, "This recognition will help us to attain even higher standards in corporate governance going forward."
Tata Steel had received the '2nd National Award for excellence in Corporate Governance' issued by the Institute in year 2002. The presentation ceremony was preceded by a panel discussion on the topic, "Make in India: Are We Governance Ready?" The ceremony was attended by a plethora of industry leaders and representatives from the government.
The Institute of Company Secretaries of India (ICSI) is a statutory body constituted under the Company Secretaries Act, 1980 to regulate and develop the profession of Company Secretaries. The Institute has the vision "To be a global leader in promoting Good Corporate Governance". Its mission is "To develop the high calibre professionals facilitating good Corporate Governance".
About Tata Steel
Established in 1907 as Asia's first integrated private sector steel company, Tata Steel Group is among the top global steel companies with an annual crude steel capacity of over 28 million tonnes per annum (MnTPA). It is now the world's second-most geographically-diversified steel producer, with operations in 26 countries and a commercial presence in over 50 countries. The Tata Steel Group, with a turnover of US$ 24.81 billion in FY 14, has over 80,000 employees across five continents and is a Fortune 500 company. The Group's vision is to be the world's steel industry benchmark in "Value Creation" and "Corporate Citizenship" through the excellence of its people, its innovative approach and overall conduct. Underpinning this vision is a performance culture committed to aspiration targets, safety and social responsibility, continuous improvement, openness and transparency. In 2008, Tata Steel India became the first integrated steel plant in the world, outside Japan, to be awarded the Deming Application Prize 2008 for excellence in Total Quality Management. In 2012, Tata Steel became the first integrated steel company in the world, outside Japan, to win the Deming Grand Prize 2012 instituted by the Japanese Union of Scientists and Engineers.