The ‘Shield Panel’, a sub-committee of the Research Committee of the Institute, conducts the competition for the ‘ICAI Awards for Excellence in Financial Reporting’ annually, with a view to promote better standards in the presentation of information in the financial statements. The Panel evaluates the Annual Reports and other documents pertaining to the participant organisations. The Panel, in deciding awards, inter alia, considers compliance with Accounting Standards, statutory and regulatory requirements and other relevant pronouncements. However, in cases where certain minimum standards of the quality of information are not met, the Panel decides not to give awards.
Awardees for the Year 2008-09
| Category | Award | Name of the Entity | Annual Report and Accounts for the year ended | |
| I | Manufacturing
and Trading Plantations, Oil and Gas |
Gold Shield | ACC Limited | December 31, 2008 |
| Silver Shield | Dr. Reddy’s Laboratories Limited | March 31, 2009 | ||
| Plaque for Commended Annual Report | Hero Honda Motors Limited |
March 31, 2009 | ||
| II | Banking and Financial Institutions(including NBFCs, Mutual Funds, Unit Trust of India, Bankers, HFCs, |
Gold Shield | Axis Bank Limited | March 31, 2009 |
| Silver Shield | ICICI Bank Limited | March 31, 2009 | ||
| Plaque for Commended Annual Report |
Capital Local Area Bank Limited | March 31, 2009 | ||
| III | Service Sector (including Hotels, Consultancy, Transport, Stock Exchanges, R&D, Private Hospitals) | Gold Shield | Decided not to give the award | |
| Silver Shield | Bombay Stock Exchange Limited | March 31, 2009 | ||
| Plaque for Commended Annual Report | Decided not to give the award | |||
| IV | Insurance Sector | Gold Shield | ICICI Prudential Life Insurance Co. Limited | March 31, 2009 |
| Silver Shield | Birla Sun Life Insurance Company Limited | March 31, 2009 | ||
| Plaque for Commended Annual Report |
IFFCO-TOKIO General Insurance Co. Limited | March 31, 2009 | ||
| V | Information Technology, Communication and
Entertainment enterprises |
Gold Shield | Nucleus Software Export Limited | March 31, 2009 |
| Silver Shield | Decided not to give the award | |||
| Plaque for Commended Annual Report |
Persistent Systems Ltd. | March 31, 2009 | ||
| VI | Infrastructure & Construction Sector (including Power Generation and Supply, Port Trusts, Metro, Roads | Gold Shield | Decided not to give the award | |
| Silver Shield | Nagarjuna Construction Company Limited | March 31, 2009 | ||
| Plaque for Commended Annual Report |
Larsen & Toubro Limited | March 31, 2009 | ||
| VII | Others (Section 25 companies, Educational Institutions, NGOs, Charitable hospitals and other organisations) | Gold Shield | The Akshaya Patra Foundation | March 31, 2009 |
| Silver Shield | Vidya Dairy | March 31, 2009 | ||
| Plaque for Commended Annual Report |
Decided not to give the award |
