REC wins Gold Shield in ICAI Award for Excellence in Financial Reporting

03 Feb 2025 CW Team

The selection has been made based on the company’s accounting practices, policies adopted for disclosure, presentation of financial statements, other disclosures in the Annual Report and degree of compliance with Indian Accounting Standards, Statutory guidelines and Regulations. Harsh Baweja, Director (Finance), Rajesh Kumar, Executive Director (Finance) and Mohan Lal Kumawat, Executive Director (Finance) have received the award from Shri Arjun Ram Meghwal, Union Minister of State (Independent Charge) of the Ministry of Law and Justice; and Minister of State in the Ministry of Parliamentary Affairs, at a ceremony held in the World Forum of Accountants (WOFA) at New Delhi. ICAI President CA Ranjeet Kumar Agarwal, Vice President CA Charanjot Singh Nanda, Research Committee Chairman & Vice Chairman and the ICAI Council Members were also present at the event. Harsh Baweja expressed gratitude for the recognition and highlighted the dedication of REC Limited's team in maintaining best financial practices and application of applicable regulations.

The Institute of Chartered Accountants of India through its Research Committee has been organising the ICAI Awards for Excellence in Financial Reporting since the year 1958, to recognise and encourage excellence in the preparation and presentation of financial as well as non-financial information in annual reports by entities across various sectors.

REC Limited, a Maharatna Public Sector Enterprise and a leading NBFC- IFC under the Ministry of Power, Government of India, has been awarded ‘Gold Shield’ under the ‘Financial Services Sector (Other than Banking and Insurance)’ category ‘ICAI Awards for Excellence in Financial Reporting for the financial year 2023-24’. The prestigious recognition reflects the commitment of our Company to excellence in financial reporting, transparency and adherence to the highest standards of accounting practices. The selection has been made based on the company’s accounting practices, policies adopted for disclosure, presentation of financial statements, other disclosures in the Annual Report and degree of compliance with Indian Accounting Standards, Statutory guidelines and Regulations. Harsh Baweja, Director (Finance), Rajesh Kumar, Executive Director (Finance) and Mohan Lal Kumawat, Executive Director (Finance) have received the award from Shri Arjun Ram Meghwal, Union Minister of State (Independent Charge) of the Ministry of Law and Justice; and Minister of State in the Ministry of Parliamentary Affairs, at a ceremony held in the World Forum of Accountants (WOFA) at New Delhi. ICAI President CA Ranjeet Kumar Agarwal, Vice President CA Charanjot Singh Nanda, Research Committee Chairman & Vice Chairman and the ICAI Council Members were also present at the event. Harsh Baweja expressed gratitude for the recognition and highlighted the dedication of REC Limited's team in maintaining best financial practices and application of applicable regulations. The Institute of Chartered Accountants of India through its Research Committee has been organising the ICAI Awards for Excellence in Financial Reporting since the year 1958, to recognise and encourage excellence in the preparation and presentation of financial as well as non-financial information in annual reports by entities across various sectors.

Real Estate

01 Dec 2025

Serene, Gardencity to Develop Rs 3 Billion Senior Living Project in Bengaluru

Serene Communities, a leading senior living brand, has partnered with Gardencity Realty to develop a premium senior living community in Budigere, one of Bengaluru’s fastest-growing residential micro-markets. The project will span approximately 300,000 sq ft, with a Gross Development Value of about Rs 3 billion, and will add roughly 250 senior-friendly residences to the city’s growing retirement housing segment.The launch forms part of Serene Communities’ national expansion strategy. The company has 11 new projects under development with a planned investment of Rs 25 billion that will add..

Real Estate

01 Dec 2025

Alliance City Developers Marks Major 2025 Milestones in Vile Parle

Alliance City Developers Realtors has announced significant project milestones and expansions in 2025, underscoring what the company terms a transformational year. The developer completed multiple residential projects and launched two premium developments in Vile Parle (East), one of Mumbai’s most sought-after neighbourhoods.During the year, Alliance Legacy in Matunga (East) received its Occupancy Certificate (OC), while Alliance Eternis in Borivali (West) and Alliance Vista in Vile Parle (East) were granted Completion Certificates (CC), marking final project delivery. Alliance Abhimanyu is ..

Infrastructure Energy

03 Dec 2025

Moro Hub and PwC Middle East Partner to Accelerate Smart City Solutions

Moro Hub, a subsidiary of Digital DEWA, the digital arm of Dubai Electricity and Water Authority (DEWA), has announced a strategic collaboration with PwC Middle East to advance Smart City, Integrated Command Centre (ICC), Critical Infrastructure Monitoring and Internet of Things (IoT) initiatives across the region. The partnership brings together Moro Hub’s digital infrastructure and IoT capabilities with PwC’s global expertise in digital trust, smart city strategy and cybersecurity to support the UAE’s vision for intelligent and sustainable cities.“Our collaboration with PwC Middle Ea..