This is the only award bestowed by the ICAI under this category and the selection has been made based on the company’s accounting practices, disclosure policies, presentation of financial statements, other information contained in the Annual Report and degree of compliance with Indian Accounting Standards, Statutory guidelines and Regulations.
Director (Finance), REC, Ajoy Choudhury; Executive Director (Finance), REC, Sanjay Kumar; and HoD (Finance), REC, Jatin Kumar Nayak received the award from Chief Minister of Chhattisgarh, Vishnu Deo Sai, at a ceremony held in Raipur. Cabinet Ministers of Chhattisgarh Brij Mohan Agrawal and O. P. Choudhary were also present, along with ICAI President CA Aniket Sunil Talati, Vice President CA Ranjeet Kumar Agarwal, Research Committee Chairman & Vice Chairman and the ICAI Council Members.
The Institute of Chartered Accountants of India through its Research Committee has been organizing the ICAI Awards for Excellence in Financial Reporting since the year 1958, to recognize and encourage excellence in the preparation and presentation of financial as well as non-financial information in annual reports by entities across various sectors.
About REC Limited
REC Limited is an NBFC focusing on Power Sector Financing and Development across India. Established in 1969, REC Limited has completed over fifty years of operations. It provides financial assistance to state electricity boards, state governments, central and state power utilities, independent power producers, rural electric cooperatives and private sector utilities. Its business activities involve financing projects in the complete power sector value chain; for various types of projects including Generation, Transmission, Distribution and Renewable Energy. REC’s funding illuminates every fourth bulb in India. REC has recently diversified into financing infrastructure and logistics sector as well. The Loan Book of REC stands at Rs. 4.74 Lakh Crore, ending the first quarter of the current financial year.
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