MUMBAI (Commodity Online): Tilaknagar Industries Ltd. [TI] (BSE: TILAKIND : 507205; NSE: TI) has been awarded the Gold Shield by the Institute of Chartered Accountants of India (ICAI) for Excellence in Financial Reporting.
The award has been conferred on TI, by the panel of judges, on review of accounting practices adopted by the enterprise in the preparation of financial statements and the policies adopted for disclosure and presentation of financial statements and other information in the annual report.
The Gold Shield was received by Mr. Amit Dahanukar, Chairman & Managing Director and Mr. Lalit Sethi, Chief Financial Officer of Tilaknagar Industries on behalf of the Company and was awarded Dr. M. Veerappa Moily, Union Minister for Corporate Affairs, Government of India, at a grand ceremony held on January 06, 2012 in Chennai.
"This award is recognition of the Company's internal controls and stringent efforts to maintain compliance with the prescribed financial framework while maintaining transparency and accountability through communications to our stakeholders. Winning this award is thus a great testimony to our belief and an endorsement of TI's commitment towards corporate transparency. " said Mr. Lalit Sethi, Chief Financial Officer, Tilaknagar Industries Ltd.
In BSE, the company stocks trade up 10.86% to Rs 41.85 on 23rd January.
