New Delhi: Bharat Electronics Limited (BEL), a Navratna PSU under the Ministry of Defence, has bagged the PSE Excellence Award 2019. The award has been given by the Corporate Governance awarded by the Indian Chamber of Commerce (ICC) in a virtual ceremony on October 12. BEL’s Director (Finance) Dinesh Kumar Batra received the award on behalf of the company.
The 10th PSE Excellence Awards, organised by the ICC online, is an initiative to salute the game changers and recognize the contributors to the Indian economy.
BEL received the award for its excellent corporate governance initiatives risk mitigation measures, training on anti-corruption and good governance policies, sharing of information on public domain, Board of Directors with independent directors and women directors, Whistle-Blower policy and internal audit.
The best practices adopted by BEL in corporate governance include: Digitalisation of the board – BEL has provided iPads to all the directors for conducting various committee and strategic meetings through videoconference, complying with all the statutory requirements, and thereby saving time and cost of traveling, saving of pages for printing agendas and thereby giving a boost to the Go Green Initiative; Independence – Ensuring independence to Independent Directors, allowing them to develop their own thinking, practical approach and flexibility in monitoring the company’s business. The expertise of Professional Directors having varied experience in diverse areas helps the Board immensely in establishing innovative Corporate Governance; Compliances / Disclosure practices; Shareholders Satisfaction Survey and Sustainable Development Initiatives & Ecological Sustainability.
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