RailTel Wins South Asian Federation Of Accountants (SAFA) Award For Its Annual Report

“Such awards reflect the commitment of the company for the best standards and practices in corporate governance and will lead to enhanced trust of all the stakeholders including investors.”- Sanjai Kumar, CMD, RailTel.

New Delhi, Dec 20: RailTel Corporation of India Limited, a Mini Ratna PSU under Ministry of Railways, has received the Best Presented Annual Report (BPA) Award for the year 2021 instituted by South Asian Federation of Accountants (SAFA). The annual report of the RailTel won the “Certificate of Merit” in the category ‘Infrastructure & Construction Sector’.

The SAFA BPA Award for the “Best Presented Annual Reports” is considered as the most prestigious accolade for financial reporting in the South Asian region and signifies SAFA’s recognition and reward for organizations in the region which have achieved excellence in presentation and disclosure of high quality, relevant, reliable, and objective financial statements in accordance with the international framework.

The Award ceremony event was hosted by Institute of Chartered Accountants of Nepal (ICAN) at Kathmandu on 18, Dec, 2022.

The RailTel team led by its Director (Finance), V. Rama Manohara Rao received the award on behalf of the company from Tanka Mani Sharma Dangal, Auditor General, Government of Nepal. The other members of the RailTel team included H.C. Batra, ED/Finance & Smt. Madhulika Pathak, GM/Finance.

The Awards under different categories are conferred on the basis of evaluation administered by SAFA’s Committee for Improvement in Transparency, Accountability & Governance, of the published annual reports of entries from South Asian Countries.

South Asian Federation of Accountants (SAFA) was formed in the year 1984 to serve the accountancy profession in the South Asian Region and uphold its eminence in the world of accountancy. SAFA represents over 375,000 accountants having membership in the national Chartered Accountancy and Cost and Management Accountancy Institutions in South Asian Countries. SAFA has been organizing Best Presented Annual Report Awards since year 1997 in various categories.

Talking about this achievement, Sanjai Kumar, Chairman & Managing Director, RailTel said, “It is always our endeavor that comprehensive information with full transparency, accuracy and accountability is presented to the stakeholders through the Annual Report in the best possible manner. Earlier our company was awarded the ICAI Award for Excellence in Financial Reporting for the year 2020-21 in Public Sector Entities Category. Such awards reflect the commitment of the company for the best standards and practices in corporate governance and will lead to enhanced trust of all the stakeholders including investors.