RailTel bags South Asian Federation of Accountants (SAFA) Award for its Annual Report
Dec 20, 2022
New Delhi [India], December 20 : RailTel Corporation of India has received the Best Presented Annual Report (BPA) Award for the year 2021 instituted by the South Asian Federation of Accountants (SAFA).
The annual report of the RailTel won the "Certificate of Merit" in the category 'Infrastructure and Construction Sector'.
According to an official statement by RailTel, the SAFA BPA Award for the "Best Presented Annual Reports" is considered 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 the Institute of Chartered Accountants of Nepal (ICAN) in Kathmandu on Sunday.
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 Awards under different categories are conferred on the basis of evaluation administered by SAFA's Committee for Improvement in Transparency, Accountability and 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 award, Chairman and Managing Director of RailTel, Sanjai Kumar said that it is always the company's endeavour 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," the Chairman and MD said, in the statement.
It is notable that RailTel is one of the largest neutral telecom infrastructure & ICT Solutions and Services providers in the country, owning a pan-India optic fibre network covering several towns and cities and rural areas of the country.
