Castrol India Limited has been declared Winner of ‘Special Commendation’ for Golden Peacock Award for Excellence in Corporate Governance’ for 2017. Golden Peacock Awards, instituted by the Institute Of Directors, India, in 1991, are now regarded as a benchmark of Corporate Excellence in India. The purpose of the awards is to create a competition for raising overall standards and recognize the achievements of the best performing organizations. The Golden Peacock Awards receive around 1,000 applications for its various Awards each year. This is largely due to its transparent and three-tier evaluation process, based on internationally recognized criteria. Besides recognition and award, the mere preparation of information and compilation of data required for the ‘Self-Appraisal Report’, helps to align and inspire the organization and rapidly accelerates the pace of systems improvement in an organization.
Commenting on the award, Omer Dormen, Managing Director, Castrol India Limited said: “We are extremely honored to receive the prestigious Golden Peacock Commendation Award for Excellence in Corporate Governance. I am grateful to our Board of Directors, the entire Castrol India team for their focus, hard work and commitment to compliance and to Finance and Legal teams for their guidance and timely interventions to ensure that we always stay on the right course. Awards like these are good reminders of the high standards we set for ourselves and the amazing people we have who are always aiming to do the right thing.”
The Special Commendation Certificate was presented at the 'Golden Peacock Awards Presentation Ceremony', held on 25 October 2017 in London. It was received on behalf of Castrol India Limited by Omer Dormen at the hands of the Hon’ble Chief Minister of Andhra Pradesh Mr Chandrababu Naidu. The event was part of IOD India's ‘17th London Global Convention on Corporate Governance & Sustainability’ and Global Business Meet. This is the second significant external award received by Castrol India this year – the first one being the ‘IMC Ramkrishna Bajaj National Quality Performance Excellence award’ received early on in the year.