ITC- “The Best Governed Company”
New Delhi, 15 January 2021: ITC Limited has been adjudged ‘Best Governed Company’ at the 20th ICSI National Awards for Excellence in Corporate Governance, 2020 in the listed segment: Large Category in recognition of its consistent growth and performance, contributive capabilities, governance ethos, and sensitized approach towards CSR and sustainable development. The Award was adjudged by an eminent jury under the chairmanship of Hon’ble Justice Shri A. K. Sikri, Former Judge, Supreme Court of India, and International Judge, Singapore International Commercial Court.
ITC’s company secretary, Rajendra Kumar Singhi was also adjudged ‘Governance Professional of the Year’ for his contribution towards adoption of effective governance processes. Mr Singhi received the Award on behalf of ITC at a ceremony held on the 13th of January 2021. Mr. Piyush Goyal, Hon’ble Minister of Railways, Commerce and Industry and Consumer Affairs, Government of India was the Chief Guest at the Awards ceremony, which was also graced by stalwarts of the Indian corporate sector and governance professionals.
Thanking the ICSI for bestowing the Award, Chairman Mr Sanjiv Puri stated, “We are deeply humbled by this befitting recognition for ITC’s robust governance model anchored on the timeless values of trusteeship, transparency and ethical corporate citizenship. The high standards that we have set for ourselves is inspired by our credo of ‘Nation First – Sab Saath Badhein’ that seeks to create enduring value for our stakeholders, making a meaningful contribution to creating larger societal value whilst enhancing the competitiveness of our businesses with agility and innovative capacity. This Award, received in the presence of Hon’ble Minister Shri Piyush Goyal ji, will indeed be a source of immense encouragement to Team ITC as we traverse this journey to build a better tomorrow for our stakeholders and the Nation”.
ICSI National Awards for Excellence in Corporate Governance is a prestigious award that acknowledges the implementation of best practices in corporate governance. Instituted by ICSI, these awards encourage and recognize individuals and listed companies that imbibe and promote a culture of good corporate governance by not only inculcating good corporate governance principles in their functioning but also by implementing innovative practices, programs, and projects promoting the cause of corporate governance. It rigorously evaluated participants on several parameters including governance structure, transparency, and disclosure compliances, amongst others.
ITC has been one of the frontrunners in India to have put in place a formalized system of corporate governance, more than 2 decades back.
ITC’s abiding commitment to its credo of ‘Nation First: Sab Saath Badhein’ is embodied in its corporate vision to sustain ITC’s position as one of India’s most valuable corporations through world-class performance, creating value for the Indian economy and the company’s stakeholders. The company’s corporate governance philosophy is anchored on the values of trusteeship, transparency, ethical corporate citizenship, empowerment & accountability, and control that is embedded in the strategies and planning process of every business of the company.