Abhishek Industries wins Corporate Governance Award
26 Dec '06
2 min read
Abhishek Industries Limited (AIL), the flagship Company of Trident group, has won 'National Award for Excellence in Corporate Governance' for the year 2006. The award was presented in Chennai on December 23, 2006.
The award was conferred on Abhishek Industries in recognition of its innovative practices, Board systems & procedures, high standard of disclosure & transparency to stakeholders.
Abhishek Industries was applauded for its proactive approach in complying with regulations, adopting best management practices, change management initiatives and social accountability.
In the citation, the ICSI stated that the core values of Abhishek are four strong pillars of its governance system. The Company's firm belief that building a culture of compliance is more than meeting regulation and standards has enabled it to react proactively towards regulatory developments.
The 'National Award for Excellence in Corporate Governance' is instituted by the Institute of Company Secretaries of India (ICSI) to identify, foster and reward the culture of evolving globally acceptable standards of corporate governance among Indian companies.
Recognition granted by ICSI is based on the outcome of concerted and comprehensive process of evaluation on basis of stipulated parameters, the practices of corporate governance followed by Indian corporates and acknowledge the best practices worthy of being exemplified.
Trident is a Rs. 1500 crore Group with operations in yarn, home textiles, paper and chemicals. It is one of the fastest growing conglomerates of North India, heavily focused on exports, being ranked among the top-five manufacturers of terry towels in the world.
It is one of the youngest business groups of North India and is a pioneer in adopting Good Corporate Governance as a basic management principle in all its group companies.
AIL is the flagship company of the Trident Group. The Company has two main areas of business – textile and paper. It employs about 7000 people across its 3 divisions. AIL is a recognized star exporter with customers spread over 37 countries.
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