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.

Building Material

11 Dec 2025

Suraj Estate Wins Euromoney Award for India’s Best Residential Developer

"Suraj Estate Developers Limited has received the Euromoney Real Estate Award 2025 for ‘India’s Best Residential Developer’, positioning the company among globally benchmarked leaders in the sector. The recognition reflects its four-decade legacy in delivering high-quality residential and redevelopment-led projects across South Central Mumbai. The Euromoney Real Estate Awards, presented by the London-based Euromoney magazine, are widely regarded as one of the most credible global assessments of performance in real estate, banking and finance. Winners are selected through surveys of inte..

Building Material

11 Dec 2025

Lloyds Metals, Tata Steel Sign MoU to Explore Strategic Collaboration

"Lloyds Metals and Energy Limited has signed a non-binding Memorandum of Understanding with Tata Steel Limited to evaluate potential areas of strategic cooperation across mining, logistics, pelletisation and steelmaking. The MoU was signed by B Prabhakaran, Managing Director of Lloyds Metals, and Mr T V Narendran, CEO and Managing Director of Tata Steel. The partnership framework aims to leverage the natural operational synergies between both companies and assess opportunities in greenfield steel projects, iron ore mining, slurry pipeline infrastructure, pellet manufacturing in iron ore–ric..

Building Material

11 Dec 2025

IndiaAI, Gujarat Govt Host Regional Conclave Ahead of 2026 AI Summit

The IndiaAI Mission under the Ministry of Electronics and Information Technology, along with the Government of Gujarat and IIT Gandhinagar, convened a Regional Pre-Summit Event at Mahatma Mandir, Gandhinagar. The initiative is part of the build-up to the India–AI Impact Summit 2026, scheduled for 15–20 February 2026 at Bharat Mandapam, New Delhi. The conclave brought together senior policymakers, technology leaders, researchers and industry practitioners to examine how AI can accelerate economic, digital and social transformation across sectors. The programme focused on the overarching th..