bags ‘ICWAI Good Performance Award’ (2009)
UGVCL bags the
‘Good Performance Award’ – under the category of Public - Service Sector –
Large for EXCELLENCE IN COST MANAGEMENT-2009 from ICWAI.
distribution ceremony was held on Thursday, the 8th July, 2010 at New Delhi.
Mr. Salman Khurshid, (center) Hon’ble
Union Minister of State for Corporate Affairs, presented the Award. Mr. A.
K. Verma, IFS, (left) Managing
Director and Mr. R. B. Kothari, (extreme
left) General Manager (Finance) of UGVCL received the Award. Mr.
R. Bandopadhyay, IAS, (right)
Secretary, MCA and Mr. G. N. Venkataraman,
(extreme right) President of the ICWAI graced the occasion.
ABOUT THE AWARD:
The Institute of
Cost and Works Accountants of India (ICWAI) has been in the forefront as an
enabler for strengthening the existing cost management practices and
propagating new tools and techniques in Cost Management. Aiming towards
this, ICWAI has instituted an “ICWAI NATIONAL AWARD FOR EXCELLENCE IN COST
to decide the winner of award is based on the questionnaire designed to
obtain information on Cost Management practices. On the basis of
questionnaire submitted, the Screening Committee comprising of various
professionals short-lists the companies for award on the basis of set-out
standards. After the short-listing is done by Screening Committee, the final
recipients of awards are decided by Jury headed by Mr. Justice J.S. Verma,
Former Chief Justice of India.
Committee has recognized UGVCL being forefront in applying various cost
reduction techniques like Variance Analysis, Budgeting, Inventory Control
techniques, Fund Management, Arrears Reduction, Supply Chain Management
Concept etc. The results for the said Award were declared in the Month of
June, 2010 and the Jury has declared Good Performance AWARD for UGVCL under
the category of Public-Service Sector - Large.
awardees are LG Electronics (India) Pvt. Ltd., Whirlpool of India Ltd.,
Shree Cement Ltd., ACC Ltd., Subros Ltd., Everest Industries Ltd., Reliance
Infrastructure Ltd., L&T Chiyoda Ltd. from Private Sector and BHEL, GAIL
(India) Ltd., Rashtriya Chemicals and Fertilizers Ltd. from Public Sector.
In the category
of Public - Service Sector - Large, PGVCL and UGVCL, State PSUs of Gujarat
in Power Sector are selected and awarded first Prize and Good Performance
Award respectively. No other company from either Power Sector or other
States is selected in this category.