RITES wins ‘Silver’ ICAI Award for excellence in Financial Reporting; REMC gets ‘Plaque’

Gurugram, January 15, 2024: RITES Limited, a Navratna Public Sector Enterprise, has been awarded the ‘Silver Shield’ under the ‘Infrastructure and Construction Sector’ category at the ICAI Awards for Excellence in Financial Reporting for the financial year 2022-23.

Also, RITES’ subsidiary REMC Ltd, which is in business of power generation and management, has been awarded ‘Plaque’ under the ‘Service Sector’ (other than Financial Services Sector) category.

RITES’ Director (Finance) and Chief Financial Officer KG Agarwal received the award from  Chief Minister of Chhattisgarh Vishnu Deo Sai, Chhattisgarh Cabinet Minister Brij Mohan Agrawal, ICAI President CA Aniket Sunil Talti, ICAI Vice President CA Ranjeet Kumar Agrawal, ICAI Research Committee Chairman & Vice Chairman and ICAI Council Member, at a ceremony in Raipur on January 13, 2024.

The coveted award recognises accounting practices, policies adopted by RITES and its subsidiaries for the preparation & presentation and disclosure of financial statement(s) amongst other information contained in the Annual Report. It also highlights its highest degree of compliance with accounting standards, statutory guidelines and regulation etc.