HCL Technologies : Highest Honour in Corporate Governance for Shiv Nadar
September 04, 2014 at 05:23 pm
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Kolkata/ Noida, August 25, 2014: Institute of Company Secretaries of India (ICSI), the apex body with a vision of being a global leader in promoting good corporate governance, has bestowed the ICSI Life Time Achievement Award 2013 for Excellence in Corporate Governance to Shiv Nadar, Founder & Chairman, HCL and Shiv Nadar Foundation. The award was presented by Shri Arun Jaitley, Hon'ble Union Minister for Finance, Defence and Corporate Affairs.
The award comes close on the heels of several recent accolades in corporate governance conferred on HCL Technologies that include Best Governed Company Award 2014from The Asian Centre; the Outstanding Company of the Year 2014 Awardfrom CNBCand the Corporate Citizen awards by both PHD Chamber of Commerce and All India Management Association.
CS R Sridharan, President, ICSI,said, "HCL represents a culture of evolving globally acceptable standards of corporate governance. Last year, ICSI recognised HCL Technologies as the best governed company. This year, we are pleased to felicitate Shiv Nadar for his exemplary work in institution-building and good governance that has helped create sustained and path-breaking growth for HCL in a highly dynamic business environment."
Accepting the award, Shiv Nadarsaid, "This is a great honour and I thank ICSI and the eminent jury for this recognition. I share this award with our board, management leadership and employees who have set high standards of governance. I believe good corporate governance is critical in enhancing competitiveness, and creating industry-leading profitable growth and superior returns for every stakeholder of the institution."
The ICSI National Awards for Excellence in Corporate Governance, instituted in 2001, is the highest honour in corporate governance in India. The independent jury comprised of:
Justice M. N. Venkatachaliah, Chairman of Jury & Former Chief Justice of India
Dr. Anil K. Khandelwal, Former CMD, Bank of Baroda
Arun Balakrishnan, Former CMD, HPCL
Justice B. N. Srikrishna, Former Judge, Supreme Court of India
Ravi Narain, Vice Chairman, NSEIL
R. S. Butola, Chairman, Indian Oil Corporation
Y. C. Deveshwar, Chairman, ITC Ltd
Y. M. Deosthalee, CMD, L&T Finance Holdings Ltd
CS S. N. Ananthasubramanian, Immediate Past President, ICSI
HCL Technologies Limited specializes in IT services. The activity is ensured with companies operating in telecommunications, distribution, insurance, media, etc. Net sales break down by activity as follows:
- development and edition of software (57.8%);
- management of IT infrastructures services (37.2%);
- outsourced services (5%).
Net sales break down geographically as follows: India (3.5%), America (59.5%), Europe (26.7%) and other (10.3%).