Bengaluru, NFA Post: Navratna defence PSU Bharat Electronics Limited (BEL) bagged the PSE Excellence Award 2019 for Corporate Governance awarded by the Indian Chamber of Commerce (ICC) in a virtual ceremony.
BEL 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.
Best practices
The best practices adopted by BEL in corporate governance include digitalisation, the inclusion of independent directors, shareholder survey and other sustainable practices. DigitaliSation practices implemented by BEL Board include providing iPads to all the Directors for conducting various committee and practising all strategic meetings through videoconference,
Besides complying with all the statutory requirements, as part of the digitalisation BEL also implemented practices to save time and cost of travelling, reduce consumption of pages for printing agendas and thereby giving boost to the Go Green Initiative.
The company brought independence in governance by onboarding Independent Directors and allowed 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 and compliances / disclosure practices; Shareholders Satisfaction Survey and Sustainable Development Initiatives & Ecological Sustainability.
Photo caption: Mr Dinesh Kumar Batra, Director (Finance), BEL, receiving the PSE Excellence Award 2019 on behalf of BEL for Corporate Governance, awarded by the Indian Chamber of Commerce (ICC), at a virtual ceremony today.
