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Jubilant Organosys wins "Golden Peacock Global Award"
Posted On : 2007-09-21 00:33:08( TIMEZONE : IST )
Jubilant Organosys Ltd has announced that the Company has won the coveted Golden Peacock Global Award (2006-07) for the 'Excellence in Corporate Governance'. The award is given by the World Council for Corporate Governance, UK annually, to Companies that have demonstrated benchmark standards of corporate governance. More than 120 entries were received from 24 countries around the world for this award.
The award recognises the Company as having demonstrated best corporate governance practices in the following areas:
- Effective functioning of Board and Committees.
- Transparency in disclosures to shareholders and general public
- Tremendous growth in the Company's business results and market capitalization
- Contribution to social and environmental causes
Commenting on the development, Mr. Shyam S Bhartia, Chairman & Managing Director and Mr. Hari S Bhartia, Co-Chairman & Managing Director of the Company said, "It is a matter of immense pride that Jubilant has won the Golden Peacock Global Award for Excellence in Corporate Governance. In the last few years, Jubilant has rapidly emerged as a true multinational, with a highly professionalised management team driving it's growth, by embodying the highest standards in governance. As the Company operates in an increasingly dynamic, multi-locational, multi-business, multi-customer and multi stakeholder environment, we have created a benchmark corporate governance structure in the organisation, with the objectives of facilitating a transparent dialogue with all our stakeholders. We are also proud that this award not only recognise our benchmark corporate governance practices."
The Golden Peacock Global Award for Corporate Governance was instituted by the World Council for Corporate Governance in January 2001 to foster competitiveness among businesses to improve the quality of Corporate Governance. The selection process involves a two tier evaluation, where the initial assessment is done by a team of independent assessors on the basis of pre-defined criteria and the final decision is taken by a jury comprising eminent international personalities. This year's Golden Peacock Global Award Jury was under the Chairmanship of Justice P N Bhagwati, former Chief Justice of India and Member UN Human Right Commission.
