December 22, 2003
Excellence in Corporate Governance
ICSI Recognises Tata Sponge as One of the Top 25 Company Practicing Good Corporate Governance
Corporate Governance - as a framework embraces law, ethics and management practices for wealth creation, management and sharing. Corporate governance is not only the key to corporate excellence but it is basic to social and national excellence because compliance of law, ethics and best management practices lead to upliftment of all segments of society.
The Institute of Company Secretaries of India (ICSI) bestows the ICSI National Award for Excellence in Corporate Governance every year to the Best-Governed Companies in India. For the fourth consecutive year, ICSI presented these Awards to the recognized companies from the Indian Corporate Scenario on December 15, 2004, at New Delhi.
Of the 5000 odd eligible companies, 25 companies from different spheres were short listed. It is a matter of pride for the company that Tata Sponge Iron Limited was one of these 25 companies selected by ICSI for this award, consecutively for the second year. This is certainly one of the rare achievements for a TATA House that sets a benchmark for good corporate governance & citizenship. Tata Sponge dedicates this distinction to all its stakeholders who have reposed their credence upon the company all these years.