TLI Staff
New Delhi: Adding another feather to its cap, public sector RailTel has won South Asian Federation of Accountants (SAFA) Award for its annual report.
“RailTel Corporation of India Limited, a Mini Ratna PSU under Ministry of Railways, has received the Best Presented Annual Report (BPA) Award for the year 2021 instituted by South Asian Federation of Accountants (SAFA),” the company said in a statement on Tuesday.
The annual report of the RailTel won the “Certificate of Merit” in the category ‘Infrastructure & Construction Sector’.
“Such awards reflect the commitment of the company for the best standards and practices in corporate governance and will lead to enhanced trust of all the stakeholders including investors,” said Sanjai Kumar, CMD, RailTel.
The SAFA BPA Award for the “Best Presented Annual Reports” is considered as the most prestigious accolade for financial reporting in the South Asian region and signifies SAFA’s recognition and reward for organizations in the region which have achieved excellence in presentation and disclosure of high quality, relevant, reliable, and objective financial statements in accordance with the international framework.
The Award ceremony event was hosted by Institute of Chartered Accountants of Nepal (ICAN) in Kathmandu on December 18, 2022.
The RailTel team led by its Director (Finance) V. Rama Manohara Rao received the award on behalf of the company from Tanka Mani Sharma Dangal, Auditor General, Government of Nepal. The other members of the RailTel team included H.C. Batra, ED/Finance and Madhulika Pathak, GM/Finance.
The Awards under different categories are conferred on the basis of evaluation administered by SAFA’s Committee for Improvement in Transparency, Accountability & Governance, of the published annual reports of entries from South Asian Countries.
RailTel CMD Sanjai Kumar said that the company has always strived to present comprehensive information with full transparency, accuracy and accountability to the stakeholders through the Annual Report.
“Earlier our company was awarded the ICAI Award for Excellence in Financial Reporting for the year 2020-21 in Public Sector Entities Category,” he noted.