Gurugram (Business Desk): 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.
Shri Harsh Baweja, Director (Finance), Shri Rajesh Kumar, Executive Director (Finance) and Shri 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.
Shri 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 organizing the ICAI Awards for Excellence in Financial Reporting since the year 1958, to recognize and encourage excellence in the preparation and presentation of financial as well as non-financial information in annual reports by entities across various sectors.
