REC wins Gold Shield in ICAI Award for Excellence in Financial Reporting

03 Feb 2025 CW Team

The selection has been made based on the company鈥檚 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. Harsh Baweja, Director (Finance), Rajesh Kumar, Executive Director (Finance) and 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. 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 organising the ICAI Awards for Excellence in Financial Reporting since the year 1958, to recognise and encourage excellence in the preparation and presentation of financial as well as non-financial information in annual reports by entities across various sectors.

REC Limited, a Maharatna Public Sector Enterprise and a leading NBFC- IFC under the Ministry of Power, Government of India, has been awarded 鈥楪old Shield鈥� under the 鈥楩inancial Services Sector (Other than Banking and Insurance)鈥� category 鈥業CAI Awards for Excellence in Financial Reporting for the financial year 2023-24鈥�. 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鈥檚 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. Harsh Baweja, Director (Finance), Rajesh Kumar, Executive Director (Finance) and 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. 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 organising the ICAI Awards for Excellence in Financial Reporting since the year 1958, to recognise and encourage excellence in the preparation and presentation of financial as well as non-financial information in annual reports by entities across various sectors.

Infrastructure Urban

13 Jun 2025

Reliance, Diehl Advance Pact for Precision-Guided Munitions

Diehl Defence CEO Helmut Rauch and Reliance Group鈥檚 Founder Chairman Anil D. Ambani have held discussions to advance their ongoing strategic partnership focused on Guided and Terminally Guided Munitions (TGM), under a cooperation agreement originally signed in 2019.This collaboration underscores Diehl Defence鈥檚 long-term commitment to the Indian market and its support for the Indian Government鈥檚 Make in India initiative. The partnership鈥檚 current emphasis is on the urgent supply of the Vulcano 155mm Precision Guided Munition system to the Indian Armed Forces.Simultaneously, the 鈥淰ulc..

Infrastructure Urban

13 Jun 2025

Modis Navnirman to Migrate to Main Board, Merge Subsidiary

Modis Navnirman Limited has announced that its Board of Directors has approved a key strategic initiative involving migration from the BSE SME platform to the Main Board of both BSE and NSE, alongside a merger with its wholly owned subsidiary, Shree Modis Navnirman Private Limited.The move to the main boards marks a major milestone in the company鈥檚 growth trajectory, reflecting its consistent financial performance, robust corporate governance, and long-term commitment to value creation. This transition will grant the company access to a broader investor base, improve market participation, en..

Infrastructure Urban

13 Jun 2025

Global Capital Flows Remain Subdued, EMEA Leads in Q1 2025

The Bharat InvITs Association鈥檚 industry update for Q1 2025 shows subdued global capital flows, with investment volumes remaining at the lower end of the five-year range despite a late 2024 recovery. According to data from Colliers and MSCI Real Capital Analytics, activity in North America declined slightly, while EMEA maintained steady levels and emerged as the top region for investment in standing assets.The EMEA region now hosts seven of the top ten cross-border capital destinations for standing assets, pushing the United States鈥� share of global activity below 15 per cent. Meanwhile, in..