New Delhi: Tata Power Delhi Distribution (Tata Power-DDL), a leading power distribution company serving a populace of 7million in the national capital, has been honoured with the prestigious ‘Institute of Chartered Accountants of India (ICAI) Award for Excellence in Financial Reporting’ for the financial year 2020-21. The Annual Report and financial statements of Tata Power-DDL for FY 2020-21 have been adjudged as a winner in the ‘Silver Shield’ category.
The award was presented to Suranjit Mishra, chief financial officer, Tata Power-DDL, by Dr Jitendra Singh, Hon’ble Minister of State (IC) for Science & Technology, Earth Sciences; Minister of State for Prime Minister’s Office; Personnel, Public Grievances and Pensions, Department of Atomic Energy and Department of Space, at the coveted award ceremony.
An eminent jury chaired by PK Gupta, CMD, NBCC (India), and esteemed members from various sectors selected Tata Power-DDL in the ‘Infrastructure and Construction Sector’ category, after carefully reviewing and screening the accounting practices adopted by the organisation, the policies adopted for disclosure and presentation of financial statements, and other information contained in the annual report.
The Research Committee of ICAI has been holding the annual competition for the ‘ICAI Awards for Excellence in Financial Reporting’ to promote better standards in the preparation and presentation of information in the financial statements. The awards are given in seven categories of business and other entities.
Speaking on the achievement, Mr Mishra, said, "We are extremely delighted to receive this prestigious recognition for the second consecutive year. Tata Power-DDL maintains the highest ethical standards in Financial Reporting and strongly believes that robust financial reporting helps to contribute to the overall economic growth of a nation. We are thankful to ICAI for recognising and honouring our efforts towards achieving the same.”
Tata Power-DDL has won several national and international accolades for its pioneering efforts in power distribution reforms, including national awards for 'meritorious performance in the power sector' and 'promotion/facilitation for roof-top solar' etc.
Conferred by ICAI, this honour is accorded in recognition of the highest degree of compliance of accounting standards and guidance notes / statutory guidelines / regulations / corporate governance policies and comprehensiveness, adequacy, quality and content of disclosures showcasing exemplary excellence in the presentation of financial statements.
