Tata Steel bagged the Best Governed Company Award 2006 for corporate practices which have enabled the steel major to direct and control its affairs in an efficient manner and maximize its shareholders value.
Presented by the Asian Centre for Corproate Governance, the award was conferred on Tata Steel for setting high standards in governance practices, a release issued by the company said here on Friday.
Asian Centre for Corporate Governance promoted global corporate governance principles of transparency, accountability and equity. The organisation was advised by its global advisory board which comprised of eminent international personalities from the USA, Europe and Asia, the release said.
Phillip Armstrong, head of global corporate governance forum, gave away the award to Tata Steel in Mumbai last week, it said.