RITES wins ICAI Award for excellence in financial reporting

Gurugram: RITES Ltd., a Miniratna (Category – I) Schedule ‘A’ Public Sector Enterprise, has been awarded winner under the ‘Plaque’ category at the ICAI Awards for Excellence in Financial Reporting 2019-20.

RITES Ltd. has received the award under the category of Public Sector Entities for its Annual Report and Financial Statement for the year ended March 31, 2020. RITES’ Director (Finance) Shri Bibhu Prasad Nayak and Chief Financial Officer Shri Parmod Kumar Narang received the award from Hon’ble Union Minister of State for Parliamentary Affairs and Heavy Industries & Public Enterprises Shri Arjun Ram Meghwal at a glittering ceremony on January 17.

The award recognizes accounting practices, policies adopted by RITES Ltd. for disclosure and presentation of financial statement(s), and the company’s degree of compliance with accounting standards, statutory guidelines, regulation, etc.

The award was presented by The Institute of Chartered Accountants of India, the national professional accounting body of the country.