HPCL awarded the Golden Peacock Award for Excellence in Corporate Governance for the year 2006 under the "PSUs Category"

Hindustan Petroleum Corporation Ltd (HPCL) has announced that the Company had been awarded the Golden Peacock Award for Excellence in Corporate Governance for the year 2006 under the "PSUs Category". The award was presented on November 29, 2006 by Honourable Chief Minister of Delhi, Smt. Sheila Dixit.

The Golden Peacock award validates the Company’s ‘Best-in-class’ Corporate Governance practices and reflects on its transparent and ethical dealings with stakeholders across the entire value chain. It recognizes the Management’s commitment to the highest standards of corporate conduct and its commitment to Corporate Social Responsibility as a distinct activity that helps build commendable social values and adds to the ethical fibre of the organization.

Instituted by the Institute of Directors (IOD) in 1991, the annual Golden Peacock Awards are considered the holy grail of Corporate Excellence and its guidelines provide a checklist for improvement and self-assessment in areas of quality, innovation, training, governance, environment management and corporate social responsibility. The Golden Peacock awards jury for Excellence in Corporate Governance is headed by the Former Chief Justice of India, Justice P N Bhagwati and comprises eminent bureaucrats and Senior Government functionaries.

The winners were selected based on written submission on the Questionnaire given by Institute of Directors, which was followed by presentations by 17 short listed Companies including the Company which was held on November 29, 2006 at New Delhi.

Source : Equity Bulls

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