New Delhi: The Institute of Company Secretaries of India (ICSI) has recognised CMC as one of the top seven companies in India for adopting good corporate governance practices and conferred it with a certificate of recognition for the second consecutive year at the ICSI National Award for Excellence in Corporate Governance 2011 award ceremony held in Hyderabad on December 23, 2011.
JK Gupta, CFO, and Vivek Agarwal, company secretary of CMC, received the award on behalf of the company from the Andhra Pradesh Governor ESL Narasimhan and Union Minister for Corporate Affairs Veerappa Moily.
The award aims to foster and reward the culture of evolving globally acceptable standards in corporate governance among Indian companies. Companies identified for this award are not only focused on the market, compliance and standard processes and policies but are also stakeholder-driven, and how they drive global challenges and solutions to accountability are closely integrated with business processes.
The ICSI jury headed by RC Lahoti, former chief justice of India, comprised several eminent personalities from diverse fields, including Naresh Chandra, former cabinet secretary and Indian ambassador to the US.
R Ramanan, MD and CEO of CMC, said, “As in other parameters governing our business, like quality, delivery excellence and customer focus, CMC has given high importance to transparency and corporate governance. The ICSI recognition will only spur us to raise the bar for ourselves even higher.”