Mumbai (Maharashtra) [India], August 18 (ANI): Air conditioning and commercial refrigeration major Blue Star Ltd has been declared as winner of the Golden Peacock Award for Risk Management 2020.
The award instituted by Institute of Directors (IOD) is regarded as a benchmark of excellence in corporate governance.
Blue Star was adjudged winner after an exhaustive review by an eminent jury chaired by Justice M N Venkatachaliah.
Neeraj Basur, Group Chief Financial Officer and Company Secretary, accepted the award on the company's behalf.
Blue Star said it lays great emphasis on enterprise level risk management and has put in place a robust framework for risk identification, evaluation, and mitigation in line with the COSO 2017 enterprise risk management blueprint.
The company said its risk governance structure enables agility and demonstrates commitment to the company's core values.
"I am glad that our risk management practices have not only enabled us to successfully navigate through the challenges that are arising due to the pandemic, but have also ensured that we stay ahead in our game," said Vice Chairman and Managing Director Vir S Advani.
Blue Star is India's leading air conditioning and commercial refrigeration company with an annual revenue of over Rs 5,405 crore.