January 30, 2006
Golden Peacock CSR Award for Tata Sponge Iron
In a global economy, it becomes an implicit, yet eminent responsibility of any progressive organization to facilitate, demonstrate and promote corporate social responsibility (CSR). Long-term sustainability demands that organizations retrospect their business goals and objectives from solely focusing on earning profit to corporate citizenship. Once seen purely as a philanthropic activity, a source of general goodwill at the cost of slight bottom-line erosion, CSR has rather become one of the benchmarks of an organization's overall success and business excellence.
It is a matter of pride for Tata Sponge that it has been recognized by the Institute of Directors with the Golden Peacock CSR Award-2005 for its various noble ventures in the search for corporate excellence. This makes Tata Sponge the first company in Orissa and the first amongst sponge iron units in India to receive this honour. The distinguished jury for selecting the winner was headed by Justice P.N. Bhagwati, former Chief Justice of India.
The CSR Award was received by Mr. Ashok Pandit, Managing Director and Mr. R. Somnath, Sr. Executive Officer from the Chief Guest of the function, Smt. Sheela Dixit, Honorable Chief Minister of Delhi, during the awards ceremony held in Delhi on 20th January 2006
Mr.Pandit termed this award as a fitting recognition of the company's unrelenting pursuit of corporate excellence. He stated that this achievement reinforced Tata Sponge's resolve to more than fulfill its obligation to society for having bestowed faith in the company in sharing its wealth & good fortune with those less privileged, who live in its surroundings as also to realize its Vision to make a difference in the lives of these people.