Tata Power has been ranked among the top 10 companies in this year’s Indian Corporate Governance Scorecard, which is developed jointly by BSE Limited, the International Finance Corporation (IFC) and Institutional Investor Advisory Services India Limited (IiAS), with the financial support of the Government of Japan.
Tata Power made it into the top 10 list for the first time. This is also the first time that Tata Power has entered in the ‘Leadership’ category, which features six companies with the highest scores. In fact, Tata Power has made it directly to the ‘Leadership’ category, showing immense growth in the governance scores.
Ramesh Subramanyam, Chief Financial Officer, Tata Power along with Hanoz M. Mistry, Company Secretary, Tata Power received this award during an event held in Mumbai. Members of Tata Power’s Secretarial team were also present on the occasion.
The Scorecard presents an assessment of 150 companies, which comprises S&P BSE 100 index constituents (BSE 100 companies) and 50 companies that were listed between April 2015 and March 2017 (IPO companies). According to the report, these 150 companies aggregate about 72% of the total market capitalization.
“At Tata Power, good corporate governance is a way of life and the way we do our business, encompassing every day’s activities and is enshrined as a part of our way of working. The Company is focused on the enhancement of long-term value creation for all stakeholders without compromising on integrity, societal obligations, environment and regulatory compliances,” said Praveer Sinha, CEO & MD, Tata Power.
“For Tata Power, good corporate governance is a synonym for sound management, transparency and disclosure, encompassing good corporate practices, procedures, standards and implicit rules which propel a company to take sound decisions, thus maximising long-term shareholder value without compromising on integrity, social obligations and regulatory compliances,” Ramesh Subramanyam, CFO, Tata Power added.
This is the fourth year of the Indian Corporate Governance Scorecard, which has been developed to provide a fair assessment of corporate governance practices at the corporate level. The report is intended to provide investors, regulators, internal and external stakeholders key information to help them in their decisions with regards to the market and sector performance and that of individual companies.
HrNxt.com Newsdesk has researchers and writers with an excellent domain knowledge about the talent ecosystem, and the business environment. The team keeps a tab on the latest happenings in the ecosystem to bring most relevant news and insights for our readers. You can connect with our newsdesk at newsdesk@hrnxt.com.