ICSI announces National Award for Excellence in Corporate Governance- 2010

Finance Minister, Shri Pranab Mukherjee, presented the ICSI National Award for Excellence in Corporate Governance 2010 to two Best Governed Companies: Dr. Reddy’s Laboratories Limited and Larsen & Toubro Limited at a ceremony held here today evening. Dr. K Anji Reddy, Chairman, Dr. Reddy’s Laboratories Limited and Shri Anil Kumar M. Naik, Chairman & Managing Director, Larsen & Toubro Limited received the Awards. The Company Secretaries of awarded companies: Shri Sandeep Poddar, Company Secretary of Dr. Reddy’s Laboratories Limited and Shri N. Hariharan, Vice-President (Secretarial) & Company Secretary of Larsen & Toubro Limited were also honoured for their contribution in adhering to good corporate governance practices. The Award, comprising of citation and trophy, is based on the outcome of concerted and comprehensive process of evaluation which enables the Award Jury to judge, the practices of corporate governance as followed by Indian corporates and to acknowledge the best practices worthy of being exemplified.

Shri Pranab Mukherjee also presented the Certificate Of Recognition to other top five companies:

• CMC LIMITED

• GAIL (India) Limited

• Oil and Natural Gas Corporation Ltd.

• Persistent Systems Ltd.

• Union Bank of India

The Award function was preceded by a Panel Discussion on ‘CSR – Mandatory or Corporate Benevolence’ and ‘Demystifying Corporate Pyramids- A Governance Perspective’. The Panelists for the discussion included Shri Y M Deosthalee, Chief Financial Officer, Larsen & Toubro Limited, Shri Ravi Kastia, Group Executive President & Business Head, Aditya Birla Group, Shri Jamie Allen, Director General, Asian Corporate Governance Association and Shri Jitesh Khosla,Additional Secretary and Officer on Special Duty, Indian Institute of Corporate Affairs.

The Institute of Company Secretaries of India (ICSI), functioning under the aegis of the Ministry of Corporate Affairs, organized the 10th ICSI National Award for Excellence in Corporate Governance at SCOPE Convention Centre.