New Delhi, India, 5th April, 2013 – HCL Technologies Ltd. (HCL), a leading global IT services provider has won the prestigious ICSI National Award for Excellence in Corporate Governance, for the year 2012. Hon’ble Mr. Justice M. N. Venkatachaliah, Former Chief Justice of India and Chairman of the Jury, presented the award to HCL Technologiesat a function held in New Delhi today. The function was attended by dignitaries from various disciplines. The award was received by Mr. Anil Chanana, Chief Financial Officer, HCL Technologies Ltd.
The Institute of Company Secretaries of India (ICSI) stated that the award has been conferred on HCL Technologies for its proactive and contributive capabilities, internal excellence, innovation and value creation for the stakeholders, fundamental qualities of governance ethos, vision and sustainability.
The ICSI award for excellence in Corporate Governance is an acclaimed recognition for corporates practicing best governance practices in both letter and spirit, thereby creating an atmosphere of good corporate citizenry. Last year HCL was awarded the coveted Certificate of Recognition by ICSI, for Excellence in Corporate Governance.
“HCL prides itself on the sound governance practices embedded in the Company. We are pleased to receive nation’s most prestigious corporate governance award from ICSI, said Mr. Shiv Nadar, Chairman and Chief Strategy Officer, HCL Technologies. He added, “We stay committed to a governance culture that sustains our company’s leading performance and value creation for all the stakeholders.”
CS S.N. Ananthasubramanian, President, ICSI said “ICSI recognizes corporate governance as a key element for companies to excel in the current global scenario. HCL Technologies has demonstrated commitment towards adhering to good corporate governance practices which has resulted in value creation for all its stakeholders.”
The ICSI award for Corporate Governance was instituted twelve years ago, in the year 2001. All the listed entities and unlisted companies are invited to participate in the award and are evaluated on various parameters through an exhaustive multi-level process. The process includes evaluation of compliance parameters, principle based governance, feedback from independent directors for corroboration and regulatory feedback confirming the credentials of the company. This evaluation is followed by a final selection by the jury.
Each year, the jury headed by former Chief Justice of India comprises of a galaxy of eminent personalities from the corporates, banking sector, media, regulators, academia and industry associations. This year the jury headed by Hon’ble Mr. Justice M.N. Venkatachaliah, former Chief Justice of India comprised of 17 other renowned members. These included Mr. K. V. Kamath, Chairman, ICICI Bank Limited & Infosys Technologies Ltd, Mr. Naresh Chandra, Former Cabinet Secretary, Govt. of India, Mr. T. S. Krishna Murthy, Former Chief Election Commissioner of India, Mr. Y. C. Deveshwar, Chairman, ITC Ltd., Mr. Philip Armstrong Head, Global Corporate Governance Forum, United States of America, Ms. Zia Mody, Managing Partner, AZB & Partners, Mr. B. C. Tripathi, Chairman & Managing Director, GAIL (India) Limited, Mr. V. K. Shunglu, Former Comptroller & Auditor General of India, CS Nesar Ahmad, President, The ICSI, 2012.
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