ONGC bags awards on Best Financial Performance and Corporate Governance

ONGC All Smiles - Mr. R S Sharma CMD, ONGC receiving the Award from Hon’ble Union Minister of Heavy Industries and Public Enterprises, Mr. Vilas Rao Deshmukh. Seen in the picture Mr. Elamaran Kareem, Hon’ble Minister of Industries, Government of Kerala (in the centre) and Mr.Bhaskar Chatterjee, Secretary, Department of PSE (on the right)

ONGC bagged the award on Best Financial Performance and Corporate Governance awards given by Department of Public Enterprises Government of India in association with Indian Chamber of Commerce and Deloitte the Knowledge Partner at a glittering ceremony function organized at Hotel Hyatt Regency, New Delhi today.

Mr. R S Sharma CMD, ONGC received the awards on behalf of all ONGCians from the Hon’ble Union Minister of Heavy Industries and Public Enterprises, Mr. Vilas Rao Deshmukh at a Summit on India Public Sector Agenda @ 2015 organized on the occasion.

There are seven categories under which the awards have been categorized. The First category of Best Financial Performance went to ONGC and NTPC with both of them bagging the award by scoring equal points, while the second category of award on Corporate Governance went to ONGC.

The awards have been given to acknowledge the contribution made by PSUs in today’s competitive environment, what PSU’s have been doing and highlighting the best practices in creating new benchmarks.

The exercise for the awards started three months back with Deloitte being the monitor implementer and partner in the exercise. The methodology was discussed in detail and a very detailed and transparent process was taken up under the guidance of Ministry of PSE in association with Deloitte.

The jury for these awards was chaired by very senior officials comprising of Mr. Nitish Sengupta who is the Chairman of the Board of Reconstruction of the Public Sector Enterprises, Mr.Bhaskar Chatterjee, Secretary, Department of PSE, Mr. Anil Razdan, Former Power Secretary, Dr. A S Ganguly, Chairman of Board on Governance & Nomination Committee and Compensation Committee, Mr. Arvind Pande, Former CMD, SAIL, Dr Reena Ramchandran Former CMD, Hindustan Organic Chemicals, Dr. U D Choubey,Chairman- Summit and Director General - SCOPE. The whole exercise was diligently carried out in a very structured and a detailed manner with Deloitte being the knowledge partner.

Speaking on the occasion, Mr. Sharma said “The credit goes to the entire team of efficient ONGCians. It is because of their hard work and contribution that ONGC has been recognized for these prestigious awards”

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