December 1, 2006
Tata Sponge Commended for its Corporate Governance
Institute of Directors (IOD), the organizers of Golden Peacock awards in various sectors of corporate management philosophy, has commended Tata Sponge Iron Limited for its noteworthy practices in the field of corporate governance. A commendation under the Golden Peacock Awards marks approval to some of the notable practices being followed by a company which normally transcend beyond the routine statutory compliances.
Acclamation under Corporate Governance requires the participating company to set superior standards in the areas of meeting stakeholders’ interest while demonstrating its resolute commitment to ethical values, compliance with legal requirements, care and concern for its employees including contract labourers, communities and the environment, in the course of keeping a healthy business line.
Of the 17 finalists who were selected for presentations, Tata Sponge was the only company in the medium and small category, as per the classification of IOD, to have qualified as the finalist.
Mrs.Sheela Dixit, Chief Minister, New Delhi gave away the commendation certificate to Mr.Sudhir Deoras, Jt. Managing Director in a function held at New Delhi.