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Mr. H. D. Kumaraswamy, Hon’ble Union Cabinet Minister

for Heavy Industries and Steel, Government of India,
P-09
called upon industries and businesses to embed IOD delegation meets the
Hon'ble Union Minister of State (I/C) for Law & Justice,
sustainability at the core of their operations. and Parliamentary Affairs, Government of India
Mr. Arjun Ram Meghwal

He urged them to invest in R&D for cleaner production

technologies and to collaborate proactively with the MoU GLOBAL
government to scale up green Innovations that are
both impactful and inclusive.
He was addressing a distinguished gathering at the 26th International Conference
on Environment Management & Climate Change 2025, hosted by the
Institute of Directors (IOD) in Bengaluru, India.

A Detailed Report... P-37

The Vietnam Independent Directors P-11

Association (VNIDA) and the
Institute of Directors (IOD), India have signed a
Memorandum of Understanding (MoU)

REGIONAL MEMBERS’ MEET REPORTS

DELHI & NCR REGION P-77

IOD Members’ Meet (Bi-annual)
July 12, 2025, New Delhi

The Senior Leadership of the Institute of Directors presented memento to the Chief Guest Mr. H. D. Kumaraswamy,
Hon'ble Union Cabinet Minister of Heavy Industries and Steel Govt. of India
(L to R): Mr. Ashok Kapur, IAS (Retd.); Mr. Manoj K. Raut; Mr. H. D. Kumaraswamy; and Mr. Desh Deepak Verma, IAS (Retd.)

UPCOMING EVENT
P-91 INTERVIEW
LET’S DEBATE ON
2025 ANNUAL
Boards in an
LONDON
GLOBAL CONVENTION
Unpredictable World
Mr. Vijay Karia
Chairman & MD IOD Hyderabad Regional P-87
Ravin Group of Companies Members’ Meet
on Corporate Governance November 04 - 07, 2025
& Sustainability London (UK)
June 20, 2025, Hyderabad

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 GLIMPSES OF THE EVENT
A visual showcase of the highlights, key moments, and memorable
interactions from 26th International Conference on Environment Management &
Climate Change 2025 held in Bengaluru—capturing the spirit of boardroom excellence,
leadership dialogue, and collective vision for a sustainable future.

Mr. H. D. Kumaraswamy
Hon'ble Union Cabinet Minister of Heavy Industries and Steel
Govt. of India

Mr. Ashok Kapur, IAS (Retd.), Director General, Institute of Directors presented bouquet to the
Hon'ble Chief Guest Mr. H. D. Kumaraswamy

Ms. Hilary McGeachy

Consul General for Karnataka and Telangana
Australian Consulate General

The Senior Leadership of the Institute of Directors presented memento to the

Hon'ble Chief Guest Mr. H. D. Kumaraswamy
(L to R): Mr. Ashok Kapur, IAS (Retd.); Mr. Manoj K. Raut; Mr. H. D. Kumaraswamy; and
Mr. Desh Deepak Verma, IAS (Retd.)

Ms. Nirupa Shankar

Jt. Managing Director, Brigade Group

Distinguished guests after the Inaugural Lighting of the Lamp Mr. Sanjay Kumar Singh, IAS (Retd.)
(L to R) Ms. Nirupa Shankar; Mr. Sanjay Kumar Singh, IAS (Retd.); Ms. Hilary McGeachy; Director, Strategy & External Relations, Jindal Steel & Power Ltd.;
Mr. Desh Deepak Verma, IAS (Retd.); Mr. Ashok Kapur, IAS (Retd.) and Mr. Manoj K. Raut Former Secretary, Ministry of Steel, Govt. of India
26TH INTERNATIONAL CONFERENCE ON
ENVIRONMENT MANAGEMENT &
CLIMATE CHANGE 2025 IN BENGALURU .

Winners of the famed Golden Peacock Awards

celebrated their achievements in Bengaluru.

Distinguished Guests and speakers of the Inaugural Session releasing Convention Souvenir.
(L to R) Mr. Ashok Kapur, IAS (Retd.); Ms. Nirupa Shankar; Mr. Sanjay Kumar Singh, IAS (Retd.); and Ms. Hilary McGeachy

A VIEW OF THE AUDIENCE

 S P E C I A L TA L K
Contents
VOLUME - XI, ISSUE - VIII
AUGUST 2025

ARTICLE

Boardroom Pressures and

Directorial and Corporate Resilience
Addressing Performance and Wellbeing
Consequences of Increasing Workloads

P-15 Prof. Colin Coulson-Thomas

P-39
LEADERSHIP DIGEST
Mr. H. D. Kumaraswamy
Hon'ble Union Cabinet Minister of Heavy Industries
Carbon Markets at a Crossroads and Steel, Govt. of India

Will They Rise to the Challenge or

Fade into Irrelevance? IOD NEWS

The Vietnam Independent Directors

P-21 Ms. Chandni Khosla Association (VNIDA) and the
Institute of Directors (IOD), India have signed a
Memorandum of Understanding (MoU)
SPECIAL INSIGHT
Institute of Directors

Leveraging Engagement for Greater

Effectiveness of Boards:
Six Factors to Strengthen Sustainable
Leadership

Prof. Rajendra P Bharti P-27

Ageism and the DEIB

Blind Spot

Dr. Sonal Verma &

P-11
Ms. DeekshaTiwari P-31

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 A REPORT A REPORT A REPORT

DELHI & NCR REGION IOD Hyderabad

Regional
26TH INTERNATIONAL CONFERENCE ON
IOD Members’
Environment Management Meet (Bi-annual) Members’
and Climate Change 2025 Meet
July 12, 2025 June 20, 2025
New Delhi Hyderabad
June 26 - 27, 2025
Bengaluru P-43 P-77 P-87

BOOK REVIEW MEMBERSHIP P-99

FELICITATION OF
SHE STORMS New IOD MEMBERS PROFILES OF GOLDEN PEACOCK
THE NORMS during the Month IOD Life Members AWARDS
‘Energy Efficiency',
Anisha Motwani ‘Environment Management',
and 'Occupational Health & Safety'
and ‘Eco-Innovation’
Priyadarshini
Narendra P-63 for the year 2025

P-131

TRAINING P-119 EDITORIAL BOARD

Lt. Gen. Surinder Nath, PVSM, AVSM (Retd.)
New IOD TRAINED DIRECTORS Pradeep Chaturvedi
during the Month under Ashok Kapur, IAS (Retd.)
INTERVIEW

Prof. Colin Coulson-Thomas

Masterclass for Directors, Pune Dr. Graham Wilson
Batch No. 371 Manoj K. Raut
Masterclass for Directors, Virtual Classroom
Batch No. 372 EDITOR-IN-CHIEF
Pradeep Chaturvedi
In-House Masterclass for Directors for
NAFPO EDITOR
Batch No. 118 | Virtual Classroom Manoj K. Raut
P-91 In-House Masterclass for Directors for
SUB EDITOR
NITWAA Reji Mathew
Mr. Vijay Karia
Batch No. 119 | Virtual Classroom
Chairman & Managing Director
Ravin Group of Companies In-House Masterclass for Directors for EXECUTIVE EDITOR
CS Sana Rehman
CII IWN
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 CELEBRATING
Institute of Directors, India
presents Institute of Directors 35 YEARS

2025 ANNUAL

LONDON
GLOBAL CONVENTION
on Corporate Governance
& Sustainability
also Presentation of
Golden Peacock THEME
Awards
at Hotel Montcalm Marble Arch Boards in an
London W1H 7TN Unpredictable World:
Steering through Storms of
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Meet
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 EDITORIAL

Building Future Boards

For Excellence

Pradeep Chaturvedi
Vice President
Institute of Directors, India

Over the years, the Institute of Directors (IOD), India has representation. Above all, a shared sense of purpose and
forged many strategic alliances, but this journey to Vietnam, stewardship should evolve. When discussing ESG, it is
culminating in the MoU signing ceremony on 18 July 2025, observed that 96% of directors expect a strengthened focus
stands out. Together with the Vietnam Independent Directors on ESG in the coming years – proof that sustainability is now a
Association (VNIDA), we at IOD are exploring synergies to board-level imperative. In just 6 years, cybersecurity expertise
elevate the experience and ecosystem for Independent on US boards rose from 19% to 72%, and now over a third of
Directors in both India and Vietnam. IOD's globally S&P 500 directors have a technology background. Nearly
recognised program, like Masterclass for Directors, will be two-thirds of boards seek AI as a strategic decision-making
leveraged to upskill Vietnam's board members. enhancer. This is a picture of the operational model of
leading MNCs. Boards with poor diversity are observed to
International Conference on Environment Management was
underperform by 27% financially. The boards of the future will
organised by IOD, focusing on the need for corporates to
certainly have resilience and transformative capabilities.
take active action and play an effective role in
environmentally sound economic growth. Participants 2025 Annual Directors Conclave is being organized on the
emphasized that IOD's leadership in training and awareness theme: “Shaping Tomorrow's Boards: The Competitive Edge,”
of governance issues has played a relevant and effective on 8 August 2025 in New Delhi. This will provide an
role. opportunity for participants to interact with global leaders
advising on future boards.
IOD Members’ Meet 2025 (Bi-annual) in New Delhi, on the
theme “Unleashing the Transformation Power of Additionally, IOD's 2025 London Global Convention
Independent Directors,” unveiled IOD's Eight-Pillar (November 04 – 07, 2025), will put the spotlight on the global
Framework- A bold roadmap to strengthen board leaders who will convene to address pressing governance
independence, accountability, and transparency. challenges, from the board's independence to sustainable
growth strategies.
'Shaping the Future Boards' is a new challenge for the global
business community. The role of the board has evolved far Our mission is clear: Elevate governance standards, protect
beyond traditional oversight. Boards are expected to set the IDs, and foster stakeholders' trust. As India strides towards
company's strategic direction - supervise management Viksit Bharat 2047, boards must embrace these reforms to
performance - address ESG, ethics, and suitability - safeguard ensure sustainable, ethical growth.
the interests of all stakeholders, not just shareholders - and IOD remains dedicated to redefining governance,
navigate crisis, risk, and disruption with agility and foresight. championing transparency, and elevating the role of
The right board of the future will be balanced, diverse, independent directors. Together, we are building a corporate
competent, future-ready, and ethical. This means the board ecosystem rooted in accountability, foresight, and long-term
must have the right mix of skills, experience, values, and resilience.

AUGUST 2025 I DIRECTOR TODAY

© Institute of Directors, India I [Link]
07
 Institute of Directors
INDIA

Institute of Directors

SAVE THE DATES EVENTS SCHEDULE*

IOD GLOBAL CONVENTIONS (2025-2026)

2025 London Global Convention on

Corporate Governance & Sustainability
& Felicitation of Golden Peacock Awards for Corporate Governance, Sustainability and ESG
(both Global & National) and Risk Management - 2025
November 04 – 07, 2025, London (UK)
GLOBAL

National Convention on
Business Excellence
December 20, 2025, Gujarat (India)
NATIONAL

20th International Conference on

Corporate Social Responsibility
& Felicitation of Golden Peacock Awards for Corporate Social Responsibility (both Global & National),
HR Excellence & Innovation Management – 2025

February 19 – 20, 2026, Mumbai (India)

GLOBAL

UAE Global Convention 2025

Leadership for Business Excellence and Innovation
& Felicitation of Golden Peacock Awards for
Innovation, Business Excellence, Quality & Training – 2025

April 21 – 24, 2026, Dubai (UAE)

GLOBAL

REGIONAL
Regional programs are periodically announced
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for the aforementioned events, offering valuable visibility
and meaningful engagement with a high-level audience.
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CONTACT US REACH AND STRONG GREAT ROI
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 JULY 2025

IOD Delegation meets

Mr. Arjun Ram Meghwal

Hon'ble Union Minister of State (I/C) for Law & Justice,
and Parliamentary Affairs, Govt. of India

In a significant step towards strengthening greater engagement with key policy and regulatory stakeholder, an
esteemed delegation from the Institute of Directors(IOD), India comprising Mr. Pradeep Chaturvedi, Vice President,
Mr. Manoj K. Raut, CEO & Secretary- General, and Dr. V. K. Agnihotri, IAS (Retd.), called on Hon'ble Union Minister of
State (I/C) for Law & Justice, and Parliamentary Affairs, Govt. of India, Mr. Arjun Ram Meghwal to formally invite
him as the Chief Guest for the 2025 Directors' Conclave & 35th IOD Annual Day. The Conference, along with the
Felicitation of IOD Distinguished Fellows, will take place in New Delhi, India on August 8, 2025. The invitation was
accepted with warmth and gratitude.
During the meeting, Hon'ble Minister, Mr. Meghwal praised IOD's national and international initiatives, particularly its
efforts in promoting good corporate governance practices and its significant role in building ethical, transparent,
and robust Independent Directors in the Indian scenario. He commended the Golden Peacock Award recipients for
their exemplary efforts in fostering ethical and sustainable business practices. He also recognized and appreciated
IOD's role in advancing skill development in a rapidly evolving landscape, as well as its international excellence in
offering MasterClasses and thought-leading publications.
The 2025 Directors' Conclave promises to be a landmark event, fostering dialogues on Shaping Tomorrow's
Boards.

(From L to R): Mr. Pradeep Chaturvedi, Vice President, Hon'ble Union Minister of State (I/C) for Law & Justice, and Parliamentary Affairs, Govt. of India ,
Mr. Arjun Ram Meghwal, Dr. V. K. Agnihotri, IAS (Retd.) and Mr. Manoj K. Raut, CEO & Secretary- General.
 JULY 2025

Institute of Directors

The Vietnam Independent Directors

Association (VNIDA) and the
Institute of Directors (IOD), India have signed a
Memorandum of Understanding (MoU)

18 July 2025, Ho Chi Minh City, Vietnam – The Vietnam Independent Directors Association (VNIDA) and the Institute
of Directors (IOD) India have signed a Memorandum of Understanding (MoU) to strengthen collaboration in
corporate governance, director training, and leadership. The MoU was formalized at the Independent Director
Forum 2025, co-organised by VNIDA and the VNIDA Institute of Corporate Governance Research (VNICG) in Ho Chi
Minh City, marking a significant milestone in cross-border knowledge exchange and governance excellence.

A Shared Vision for Stronger Boards and Sustainable Growth

Speaking at the MoU signing ceremony, Mr. Manoj K. Raut, CEO & Secretary General, Institute of Directors, India,
emphasized the historic significance of the partnership:

AUGUST 2025 I DIRECTOR TODAY

© Institute of Directors, India I [Link]
11
 JULY 2025

"This year marks the 35th anniversary of IOD India—a journey dedicated to empowering directors, fostering ethical
leadership, and shaping future-ready boards. Our collaboration with VNIDA reflects our shared commitment to
advancing governance standards in an era of global transformation. Together, we will drive innovation,
sustainability, and boardroom excellence across India and Vietnam."
Key Areas of Collaboration
• Director Training & Certification: Leveraging IOD's globally recognized programs like 'Masterclass for Directors' to
upskill Vietnamese board members.
• Knowledge Exchange: Cross-border seminars, research publications, and best-practice sharing on corporate
governance in boardrooms.
• Events, Conventions & Webinars: Co-hosting forums in Vietnam and India to connect business leaders,
policymakers, and governance experts.
VNIDA's Commitment to Elevating Vietnamese Boards
VNIDA, a leading advocate for directorship excellence in Vietnam, was represented by Mr. Nguyen Sinh Dung Thang, the
President; Mr. Dang The Duc, the Secretary General; Mr. Hoang Duc Hung, the Vice President and Director of the VNIDA
Institute of Corporate Governance Research (VNICG); and members of the Executive Board.
"This partnership accelerates our mission to cultivate a culture of accountable leadership in Vietnam's dynamic
economy," said Mr. Nguyen Sinh Dung Thang.

AUGUST 2025 I DIRECTOR TODAY

© Institute of Directors, India I [Link]
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 ARTICLE

Boardroom Pressures
and Directorial and
Corporate Resilience
Addressing Performance and Wellbeing
Consequences of Increasing Workloads

Directorial and executive roles are ever more demanding as

uncertainty and insecurity increase, and issues on boardroom
agendas multiply, and become more complex, inter-
dependent and difficult to handle. Assembling a board of
manageable size with the competences and bandwidth to
confront them and securing access to current and relevant
advice in any depth as and when required is becoming Prof. Colin Coulson-Thomas
practically impossible. As stakeholder, compliance and President, Institute of Management Services
assurance expectations also expand and fragment, is there a and Director-General, UK & Europe
limit to the complexity, uncertainty, pressure and matters that Institute of Directors, India
directors and executives can handle?
Increasing Pressures on People and Organisations
Life for many people and their families and communities has
also become more uncertain, insecure and precarious. They Decentralised
might be affected either directly or indirectly by the same
challenges, global risks and existential threats confronting decision making may
corporate boards. Like directors, CEOs and senior executives, better enable boards to
they may experience anxiety, insecurity and stress.
do what is best for the
companies they are
responsible for.

AUGUST 2025 I DIRECTOR TODAY

© Institute of Directors, India I [Link]
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 ARTICLE

Buffeted by events, some might wonder for how much Directors and boards vary in the importance they attach
longer they can keep up with seemingly endless waves of to people as opposed to other elements of capability,
change, rising expectations and increasing workloads. such as technology. Some replace them with robots or
Where social support is available people may stop machines that might work longer hours and outperform
working earlier and/or report stress and mental health them. Others value their flexibility and upskill and reskill
problems. them to build their capability to complement relevant
technologies and handle greater complexity. They may
Many of the contexts in which companies operate are
see them as likely to be more rather than less important
fragmented, polarised and volatile, with the cooperation
for collective resilience as challenges, risks and threats
and collaboration needed for effective collective multiply. They might go beyond legal and regulatory
responses to common challenges, shared risks and requirements relating to health, safety and welfare when
existential threats elusive or unobtainable. Where there supporting them.
once might have been compromise or a degree of
consensus for the common good there is now division, Corporate and public governance arrangements struggle
to accommodate the changing nature of organisations,
protectionism and transactional deals to promote national
multiple business and operating models, shifting
interests. Multilateralism seems to be withering, with
stakeholder priorities, the pace of technological
many international arrangements, organisations and
developments, climate and sustainability pressures,
institutions unable to cope and appearing fragile.
geopolitical conflicts, and uncertainties concerning state
Certainties that can be relied
trade and other policies. As
upon are ephemeral. complexity overwhelms
Hot and hybrid warfare, arrangements, processes and
conflicts, grey zone activities, Wellness could be an systems, the emergence of
biodiversity, ecosystem and multiple and divergent
organizational priority, interests, priorities and views
habitat loss, and global
warming continue. Climate leveraging existing resources within boards and stakeholder
groups further complicates
change impacts are more and/or working with health trust, consensus building and
noticeable, frequent and
plans and/or community prioritisation. Even agreeing
extreme. Rising sea levels and
services and partners. what questions to ask can be
abandonment of areas
difficult.
unsuitable for cultivation and
human habitation add to Tackling Ever Increasing
migratory flows. Activities and Regulations
infrastructures will need to be reinvented and relocated. Regulation and government intervention which might
Few countries could cope financially or operationally with increase the pressure and overload on directors can be
combinations of crisis events occurring simultaneously. blunt instruments and lead to negative and unintended
Whole of society responses are increasingly required. consequences, when and where there is a diversity of
requirements, situations and circumstances.
Rethinking Board Priorities
Decentralised decision making may better enable boards
The resilience of people, organisations, communities, to do what is best for the companies they are responsible
societies, and supporting systems, processes, for, their capabilities, connections and financial and other
relationships, supply chains, infrastructures and services resources, and their issues, challenges, opportunities,
that enable transition to lifestyles that sustain core human locations and stage of development. What should boards
activities is crucial. The nature and scale of what is do to address high and performance affecting levels of
required for our survival has consequences for directors anxiety and stress among employees?
and the people of organisations. Both may already face Laws and regulations often become longer and more
external, contextual and competitive pressures. complex and onerous over time as efforts are made to
Responding to immediate and short-term issues might cover further eventualities, possibilities and situations, and
overload them. They are mutually dependent for the mission creep and overzealous compliance occurs.
implementation of direction. Their ability to cope, welfare Additions to close loopholes can create even more of
and wellness could now be a corporate priority. them and increase their complexity. However, views on

AUGUST 2025 I DIRECTOR TODAY

16 © Institute of Directors, India I [Link]
 ARTICLE

deregulation can also be polarised. Is it shifting costs onto give rise to symptoms associated with it. AI and digital
the environment or others elsewhere? Could doing what technologies can impact the availability, location, quantity
a reasonable person might think is appropriate, ethical and quality of work. They can enable and distract. Both
and right in the circumstances in relation to the purpose directors and employees may experience overload. Their
of a law or rule to avoid unintended consequences or corporate resilience can be enhanced when they work
abuse of power be justifiable? together to address common issues. Interventions such as
coaching could be at various levels from tasks or roles to
Do the public and other stakeholders trust boards,
lifestyles and commissioned by individuals or
regulators and bureaucrats to focus on achieving socially
organisations. Where they should focus depends on
and environmentally responsible and beneficial
concerns, needs and priorities.
outcomes, when they exercise discretion and act,
interpret or apply rules? Are market and pricing solutions Certain activities such as business-to-business (B2B) sales
and/or changes of approach, behaviour, purpose and can be more stressful than others. Wellness could be the
priorities required, rather than more extensive and tighter purpose of a corporate initiative or contribute to another
legislation and/or regulations? Are overload, stress and purpose, as when a mental health initiative includes stress
other symptoms of unwellness, inhibiting or preventing management, wellness and mindfulness workshops.
required action? Is wellness a fashion, fad, or expression When adopted more widely, activities may become an
of woke culture to be derided? Could it be a potential element of community or national culture, such as Yoga in
enabler of change if enhanced? India. International mobility can give rise to mental health,
financial and social stress. Physical wellness might also be
Recognising Wellness Issues affected by cultural adjustments
Wellness could be perceived and addressed in terms of Corporate action should take laws and regulations relating
the ability to cope with situations and circumstances that to employee health, equitable treatment, safety and

AUGUST 2025 I DIRECTOR TODAY

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 ARTICLE

Participation in collaborative activities to confront

challenges, risks and threats and contributing to collective
responses to them might also help to overcome feelings
Corporate action should take laws and of isolation, marginalisation and powerlessness.
regulations relating to employee health, Much depends upon individual personas, perceptions
and qualities and whether events and situations are
equitable treatment, safety and welfare viewed as problems or opportunities. Some practices that
into account. draw upon ancient wisdom and living in harmony with the
natural world might reduce stress and benefit the
environment. Could a shared vision and purpose, and
tolerance and respect, enhance resilience and enable
welfare into account. Various experiences and services boards and people within organisations and institutions to
relate to health, beauty, wellbeing and wellness. Tourism pursue a common objective such as collective survival in
and variety provide physical, quality-of-life, psychological the face of fragmentation and polarisation?
and other benefits. Many employers offer some form
Exploring and Enabling Alternative Futures
wellness support. Larger entities are more likely to provide
health risk screening and promote healthy lifestyles. Previous civilisations have imploded when the cost of
Benefits of personal counselling can include fewer complexity, especially its increasing requirement for
absences and improved health metrics. energy, has exceeded its social returns. Spiralling demand
for energy, water and scarce minerals because of AI
Acting Positively to Confront Realities adoption and data centres suggest another collapse may
Rather than tolerate the adverse impacts of increasing be imminent, unless simplification becomes a priority. A
demands and complexity on well-being and performance, change of direction is urgently needed.
boards could act to reduce them with clear messaging Many infrastructures, institutions, mechanisms, systems
and convenient and accessible offerings for directors and and processes around the world appear increasingly
all employees. Wellness could be an organizational fragile and struggle to cope. New forms of stakeholder
priority, leveraging existing resources and/or working with engagement, collaboration and more responsible
health plans and/or community services and partners. leadership are now required. Will the scale of a
Some activities can and might be contracted out or succession and/or combination of challenges currently
undertaken collaboratively. The growth of coaching, facing many boards and employees provoke positive
personal trainers and the health, beauty and fashion action to seize related opportunities? Should directors
sectors suggest people are prepared to pay to look and champion and adopt less stressful, healthier and more
feel good, balanced, fulfilling and sustainable lifestyles?
Programme assessments suggest accessible and
affordable wellness activities and/or subsidised related
services offered by a community or state can enhance Prof. Colin Coulson-Thomas holds a portfolio
optimism and psychological wellbeing and reduce mental of leadership roles and is IOD India's Director-
health issues. Some people and organisations seem more General, UK and Europe. He has advised
resilient and better able to cope with challenges, directors and boards in over 40 countries.
insecurity, uncertainty, overload and stress than others.

AUGUST 2025 I DIRECTOR TODAY

© Institute of Directors, India I [Link]
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 LEADERSHIP DIGEST

CARBON
MARKETS AT A
CROSSROADS Carbon is a boardroom
Will They Rise to the Challenge variable affecting
or Fade into Irrelevance? competitiveness, capital
access, and corporate
reputation.

Introduction

In the high-stakes climate chessboard, carbon markets

were once seen as a masterstroke where emissions
reductions could be bought, sold, and optimized globally.
Yet, a decade into their evolution, questions remain: Can
carbon markets deliver genuine climate outcomes, or are
they merely an elaborate accounting exercise? As India
prepares to formally operationalize its own carbon trading
system, the global context, particularly the rules under
Article 6 of the Paris Agreement, matters more than ever.

Mandatory Carbon Markets: Rulebook vs. Reality

Article 6 of the Paris Agreement was designed to create a

globally linked carbon marketplace. Specifically, Article 6.2
governs bilateral transfers of emission reductions known
as Internationally Transferred Mitigation Outcomes (ITMOs)
while Article 6.4 envisages a centralized UN-supervised
crediting mechanism, a successor to the CDM (Clean
Development Mechanism).

As of mid-2025, only nine countries have submitted initial

reports under Article 6.2—Switzerland, Ghana, Japan,
Chile, Peru, Thailand, Senegal, the Dominican Republic,

Ms. Chandni Khosla

Independent Director
ESG and Sustainable Finance expert

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 LEADERSHIP DIGEST

and Singapore, with Switzerland emerging as the most India, despite being an early architect of carbon projects
active ITMO buyer. Over 70 bilateral MoUs have been under the CDM era, has not yet authorized any Article 6.2
signed, yet actual trades remain sparse. The UNFCCC's transaction or submitted an initial report. India's domestic
latest dashboard shows just five ITMO transactions carbon trading framework, the Carbon Credit Trading
publicly disclosed, ranging between $20 to $45 per tonne, Scheme (CCTS), has been formally notified under the
with volumes under 5 million credits globally Energy Conservation Act. While its architecture is being
underscoring the nascent liquidity of this compliance shaped under the Bureau of Energy Efficiency (BEE), the
regime. scheme has yet to be aligned with Article 6 protocols of
the Paris [Link] Markets: A Story of

Turbulent Maturity replace the older PAT and REC mechanisms. The Draft
Globally, the Voluntary Carbon Market (VCM), long seen as Carbon Market Policy (March 2024) outlines a phased
the sandbox for innovation, is undergoing intense scrutiny. implementation with regulatory oversight from the BEE
Prices, once surging post-COP26, have crashed due to and MoEFCC, under a new entity called the Indian Carbon
quality concerns, NGO exposés, and shifting buyer Market Governance Board (ICMGB).
preferences. The VCM's issued over 2.38 billion credits (as The foundational elements, MRV protocols, sectoral
of April 2025), with 1.37 billion retired. India features baselines, credit authorization rules, and a national registry
prominently among VCM contributors, ranking in the top are in development. However, several blind spots remain:
3 globally. A large share of India's credits came from:
• No clear buyer obligation: Unlike the EU ETS or China
• 477 wind projects (~135.8 million credits issued)
ETS, India's design does not yet mandate specific
• 154 solar projects (~101.4 million) emissions caps.
• 303 clean cook stove programs (~16.3 million)
• Unlinked with Article 6: While capable of generating
These were largely purchased by foreign buyers, including domestic credits, the CCTS is not recognized under
Japanese firms, EU utilities, and U.S. tech companies. UNFCCC mechanisms.
Despite its contributions, India's own domestic usage of
these offsets remains negligible highlighting a disconnect • Governance overlap: Fragmented roles between
between climate export and domestic climate strategy. MoEFCC, BEE, and ICMGB may delay execution.

India's Carbon Market: Poised between Ambition and India's past as a major carbon exporter via CDM projects
Ambiguity gives it the capacity and experience, but the market must
evolve from an export-led model to one that drives
India notified its Carbon Credit Trading Scheme (CCTS) in
2023 under the Energy Conservation Act, aiming to domestic decarbonization.

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Box Story: India's Voluntary Carbon Surge

Between 2010 and 2024, India became one of the world's largest suppliers of voluntary carbon credits—without a
functioning carbon market of its own. Over 375 million credits were issued from Indian projects, with 215 million retired by
global corporates seeking to meet climate targets.
From wind farms in Gujarat to solar parks in Rajasthan and clean cook stoves in rural heartlands, India delivered scale,
speed, and certification—under global standards like Verra and Gold Standard. Yet, these credits served foreign ESG
strategies far more than India's own.
What emerged was a carbon services economy: project developers fluent in international protocols, driving climate gains
abroad while India's domestic emissions challenge remained largely untouched.
As global markets move toward Article 6 compliance and sovereign registries, India must now ask—will it remain the
world's carbon offset supplier, or build a market that serves its own net-zero path?

Comparison Box: How India Compares (as of April 2025)

Metric Global Total India's Share % of Global Total

Credits Issued 2.38 billion ~375 million ~15.7%
Credits Retired 1.37 billion ~215 million ~15.7%
Active Projects (VCM) ~10,364 ~1,170 ~11.3%

What Makes a Carbon Market Work?

Credible carbon markets such as the EU ETS, Korea ETS, Boards and CXOs must
and China's national system are anchored by five critical
pillars: now shift carbon from
1. Legally binding emission caps or compliance a citation in an ESG
obligations
report to the strategic
2. Robust Measurement, Reporting, and Verification
(MRV) protocols roadmap.
3. Transparent, tamper-proof digital registries

4. Enforceable penalties and independent audit

mechanisms • Sector-specific incentives to ensure broad-based
participation
5. Strong public-private engagement and cross-sector
participation Without these essential mechanisms, India risks creating a
procedural market rather than a functioning price-based
India's proposed Carbon Credit Trading Scheme (CCTS) decarbonization instrument.
addresses foundational elements such as MRV and
registry design. However, it still lacks: Boardrooms and Carbon: What Directors Must Watch

India's transition from a carbon exporter to a compliance-

• Clarity on enforceable compliance obligations (no
driven market presents both a governance imperative and
defined emission caps or buyer mandates)
a first-mover opportunity. Boards and CXOs must now
• Codified penalty structures and third-party audit shift carbon from a citation in an ESG report to the
governance strategic roadmap.

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 LEADERSHIP DIGEST

What should directors watch? • Stumble: If governance remains fragmented and

participation is limited to a few dominant corporates.
• Scope 3 exposure: Indian exporters to the EU are
already impacted by the Carbon Border Adjustment • Fade: If carbon prices remain weak, credit integrity is
Mechanism (CBAM). Tata Steel, for example, has questioned, and private demand stagnates.
begun integrating low-carbon processes and emission
India has the regulatory will, project capacity, and market
disclosures to safeguard its market access.
momentum. What it now needs is boardroom conviction.
• Supply chain preparedness: Are your Tier 2 and Tier 3
For Indian directors and institutional investors, the next 24
suppliers ready for allowance-based trading? Without
months will define whether carbon markets become a
upstream integration, large corporates risk carrying
cornerstone of national climate competitiveness—or
the carbon burden of their value chains.
another well-intentioned policy that failed to take root.
• Offset credibility: Using low-integrity credits can
undermine ESG claims and invite investor or regulator
backlash. The bar for climate transparency is rising.

• Timing capital investment: Early movers into energy Ms. Chandni Khosla is an Independent
transition technologies i.e., green hydrogen, biomass, Director, ESG and Sustainable Finance
carbon capture, may benefit from preferential access expert with over 25 years of experience in
to sectoral carbon credits in Phase 1 of India's trading capital markets across Asia, the Middle East,
scheme. and Europe. She has served in senior roles at
Singapore Exchange, NSE India, HDFC
This is no longer a CSR conversation. Carbon is a Limited, and Natixis Investment Managers.
boardroom variable affecting competitiveness, capital She advises companies, regulators, and
access, and corporate reputation. boards on ESG strategy, Sustainable finance.
Chandni is a Fellow of the Institute of
Conclusion: Will Carbon Markets Rise or Fade in India?
Directors, Senior Executive Fellow of
India's carbon market sits at a three-way fork: Harvard Kennedy School and regularly
contributes to global forums on sustainability
• Rise: If binding compliance obligations are introduced,
transitions.
Article 6 linkage is achieved, and digital infrastructure
is robustly deployed.

Data as of April–July 2025, drawn from UNFCCC

dashboards, Verra Registry, and public policy sources.

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SPECIAL INSIGHT

Leveraging Engagement
for Greater Effectiveness
of Boards:
Six Factors to Strengthen Sustainable
Leadership

Prof. Rajendra P Bharti

Facilitator of Excellence &
Member, Governing Council, Institute of Directors, India

The metamorphosis in the global business environment and the

emerging new expectations from the business corporations, are making it
necessary that we re-christen the definition of business to continuously
reform the system of regenerative empowerment not only in terms of
capital but in terms of inner strengths to shape an inspiring future and
lead the way for action. Corporate entities, therefore, need visionary and
strongly vibrant boards to lead, guide and steer the journey of
performance excellence. Boards that are aspiring, daring and gearing up
to set the highest standards of effectiveness, would appreciate the inside-
out approach to empower the dynamic internal system of high
performance. While most of the boards are actively learning and
The relationship reformulating their strategies to rebalance their growing responsibilities
towards various stakeholders, their engagement with the major
between the determinants of growing success in the unpredictable future would
board and the ensure greater effectiveness.

management is of After studying the major factors that have facilitated the functioning of
the boards of some of the leading Indian companies, the author finds that
vision-oriented engagement of boards with such factors will not only strengthen for
respect and trust, sustainable business leadership but will also prepare for future. The study
enables the author to recommend Engagement of the boards with the
and works with following six factors:
conscience and 1 Management Team
commitment to 2 Environment & Sustainability

appreciate the 3 Technological Advancements

4 Accounts and Finance
trusteeship role of
5 Dimensions of Risk
governance. 6 Regulatory Dynamics

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 SPECIAL INSIGHT

sustainability, (ii) environmental sustainability, and (iii)

Leveraging Engagement
For Greater Effectiveness of Boards social sustainability. The boards have to make sure that at
all three levels of governance, board committees,
MANAGEMENT ACCOUNTING management teams, and expert working groups, the
TEAM AND FINANCE
imperatives of sustainability are followed in spirit and
Leveraging
Engagement
actions.
ENVIRONMENT & DIMENSIONS
SUSTAINABILITY OF RISK Jason Jay, Kate Isaacs, and Hong Linh Nguyen, in their
article 'Getting Strategic About Sustainability' published in
TECHNOLOGICAL REGULATORY the Jan-Feb 2025 issue of HBR, have recommended a
ADVANCEMENT DYNAMICS Four Lenses Framework comprising - Business Value Lens,
Stakeholder Influence Lens, Science & Technology Lens,
and Purpose Lens.
Engagement with Management Team: This framework is very useful in leveraging engagement
with Sustainability.
Boards that aim to lead for excellence today and like to
remain relevant in future, would strive to build and Engagement with Technological Advancements:
nurture vibrant relationships with the top management.
All technologies involved in business are advancing at a
Directors are people of wisdom and foresight, and they
fast pace under the revolutionary influence of digital
appreciate the unique beauty of their role. Any disregard
transformation. Sustainable business leadership needs
to this unique beauty may cause irreparable damage. The
digital excellence, and there is no option. Boards,
relationship between the board and the management is
therefore, must facilitate the company's rewarding
of vision-oriented respect and trust, and works with
engagement with technological advancements. They
conscience and commitment to appreciate the
must ensure that their people and technology work well
trusteeship role of governance.
together.
It's imperative to appreciate that the directors, in their role
Many companies are still facing people's resistance in
of beacon, guide and monitor, take the lead in maintaining
embracing the AI-driven transformation. Conscious and
the relationship and ensure that it is continuously nurtured
excellence-driven boards support the management to
for responsive engagement. They must be strongly
develop the mindset for excellence which calls for
sensitive to the situations to decide as when to rise as an
questioning, innovating, learning, adapting and
effective leader to take charge, when to partner as a
transforming. Directors should encourage and guide the
friend, mentor and guide and when to stay out of the way
management heads to streamline operations and spur
with an appreciative observation. In several board
innovation with the active involvement of their inspired
meetings, the opportunities to appreciate the intelligence
teams.
and perseverance of the management are missed
because of the dominance of the reported and projected Engagement with Accounting & Finance:
data. Such opportunities are the occasions of spotting
The board's engagement with 'why?' and 'how?' of the
innovative thinking, uniquely high-potential perspectives
details of accounts and the sources and the uses of the
and cross-functional collaborations.
Engagement with Environment and Sustainability:
Company directors must be sensitive to the
environmental changes happening around. The VUCA Corporate entities,
environment is generated from the dynamics of human
evolution and growth, and fast changes in climatic, socio- therefore, need visionary
economic, and geo-political conditions. Having and strongly vibrant boards
appreciated the paramount importance of sustainability,
the corporate boards have recognized that the company's to lead, guide and steer the
promising future can be ensured through the passionate journey of performance
execution of well-designed strategies for sustainability.
Companies that aspire to lead on all parameters of excellence.
excellence have expert groups to monitor (i) economic

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 SPECIAL INSIGHT

funds, to arrive at the financial results, is essential not only transparency, accountability, and ethics. Directors must
to prevent financial scams and frauds but also to guide be learning leaders to remain well abreast of the latest
the management team from the perspective of regulations and must guide the management team to
responsibility towards various stakeholders. develop systems, databases, and procedures to ensure
timely and flawless compliance.
This engagement is unavoidable and can be leveraged for
maintaining transparency, responsibility, image and above Under the pressure of environmental factors and due to
all, the prospects of attracting investment for growth, the emergence of new threats to degenerate the
expansion, and diversification. Leaving the Accounting standards, the regulations are reformed very frequently.
and Financial issues to the sole responsibility of the Audit Directors cannot afford to dilute their responsive
Committee, Finance Committee and/or Risk Committee, engagement with regulatory dynamics. This requires
is not a wiser approach. Even some unobvious questions regular updating of regulatory knowledge with its correct
emerging from common intelligence have the potential to interpretation and methods of flawless implementation.
guard against wrong financial decisions. As conscious guardians of the management, directors
should make sure that all functions follow the regulations
Engagement with The Dimensions of Risk:
in spirit and action.
Boards appreciate their engagement with common
Conclusion:
business risks like financial risk, operational risk,
compliance and regulatory risk and reputational risk etc. Engagement is all about a passionate appreciation of and
With the disproportionate expansion of human ambitions proactive response to the factors that influence the
and amazing possibilities being offered by technological survival and growth of business entities. This article is a
advancements, many new types of risks, like modest attempt to bring out the major areas of
cybersecurity risk, hardware/software failures, data losses engagement and to recommend some ways to make this
etc. are arising and need advanced care by the engagement an instrument of organizational
management and monitoring by the boards. empowerment.
Boards should be sensitive to the hidden causes of the
risks. Human intentions can be guessed by observing
behaviors and communications. Appreciative enquiry is a
wonderful tool to peek into something driven by ulterior
Prof. Rajendra P Bharti is a freelance
motives. Regarding technology-related risks, the directors
Facilitator of Excellence. He was Professor &
need to be tech-savvy to the extent that they can guide
Director (CEO) of a Management Institute for
through the entire digital transformation in the best
two decades. An alumnus of IIMA, trained by
alignment with the strategic goals and can quickly spot
WWQN London and Harvard University,
the loopholes, from the user's angle.
Prof. Bharti is a thought leader, author,
Engagement with Regulatory Dynamics: executive coach and a transformational
leader. He has trained corporate leaders
The conscious flow of laws, rules, and regulations is aimed
from approximately fifty countries.
at ensuring that companies take adequate care of the
interests of stakeholders and maintain high standards of

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 SPECIAL INSIGHT

AGEISM AND
THE DEIB BLIND
SPOT

Dr. Sonal Verma Ms. Deeksha Tiwari

Partner Associate
As India navigates the dual Dhir & Dhir Associates Dhir & Dhir Associates

challenge of an ageing
population and a growing youth
not age. Article 16 offers similar protections in public
workforce, it has a critical employment, yet age is not among the explicitly protected
categories. Likewise, major labour reforms such as the
opportunity to promote age Code on Wages (2019) and the Industrial Relations Code
inclusion. (2020) do not identify age as a protected characteristic in
employment practices.
This results in a policy gap, where individuals facing age-
based bias, whether younger or older, have limited legal
Introduction recourse. As workplace demographics evolve, this gap
Diversity, Equity, Inclusion, and Belonging (DEIB) are now presents an opportunity for lawmakers and stakeholders
core to workplace culture, shaping how companies hire, to introduce more inclusive protections that align with
promote, and retain talent. Yet age remains a major blind contemporary workforce realities.
spot. While gender, race, and disability receive growing Judicial Interpretation: Limited engagement so far
attention, age-related bias is often ignored, despite its
widespread impact. Globally, especially post-COVID and The Indian judiciary had limited opportunities to address
with rising AI adoption, workers over 40 face increasing ageism as a standalone constitutional issue. One of the
employment bias. In India, the issue is compounded by few cases where age and employment intersected was
the lack of legal protections against age discrimination. Air India v. Nergesh Meerza (1981). The case involved
Without clear policies to address age bias, both older and service regulations that mandated air hostesses retire at
younger professionals face stereotypes that limit age 35 or earlier if they married within the first four years
opportunities, stall careers, and waste valuable talent. of service or became pregnant. Meanwhile, male cabin
crew were allowed to serve until age 58.
Legal and Policy Gaps in Addressing Age Discrimination
in India In this judgment, the Hon'ble Supreme Court struck down
the rules mandating termination upon first pregnancy and
India currently lacks a dedicated legal framework the provision giving unchecked discretion to the
explicitly prohibiting age discrimination in employment. Managing Director to extend service beyond 35, finding
While some social welfare policies support older adults, both to be in violation of Article 14 of the Constitution,
they do not extend to workplace protections. which guarantees equality before the law and equal
The Constitution, via Article 15(1), prohibits discrimination protection of the laws. However, it upheld the retirement
based on religion, race, caste, sex, and place of birth, but age disparity between male and female crew, reasoning

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 SPECIAL INSIGHT

that they belonged to different cadres with distinct prove that age was the decisive factor in adverse
natures of their roles and health considerations. employment actions, such as termination or refusal to
hire.
While the case did touch upon aspects of age and
gender biases, the issue of age discrimination was not Notably, ADEA protections can be waived under certain
adjudicated as a standalone constitutional concern. conditions. For example, an employer may offer a
Consequently, the jurisprudential development around severance package that includes a waiver of the right to
ageism remains nascent, with limited precedent sue for age discrimination under the ADEA. Such waivers,
addressing it directly under constitutional principles. however, must comply with strict standards set out in the
Prevalence of Ageism in Indian Workplaces Older Workers Benefit Protection Act (OWBPA), which
amended the ADEA in 1990 to ensure waivers are
A study by Randstad India found that 29% of employees
“knowing and voluntary.” The OWBPA further
over the age of 55 reported experiencing or witnessing
strengthens age-based protections by prohibiting
ageism, compared to 42% of those under 55, indicating
discrimination in employee benefit plans, such as health
that age bias affects both ends of the age spectrum.
insurance, disability coverage, pensions, and retirement
Younger professionals often face assumptions of
plans. While employers may adjust benefit levels based
inexperience, while older employees are stereotyped as
on cost, they must ensure parity in the value or cost of
resistant to change or less technologically adept.
benefits offered to older and younger workers.
Industries like IT, pharmaceuticals, and healthcare show
the highest levels of age- To be valid, a waiver under the
related bias. Gender also plays OWBPA must:
a role: 42% of women surveyed • Be written in clear,
reported encountering ageism, Discrimination based on age, understandable language;
compared to 37% of men.
While the difference wasn't
whether due to youth or • Refer specifically to ADEA
statistically significant, seniority, leads to exclusion rights or claims;
qualitative findings pointed to from opportunities, • Advise the employee to
the intersection of age and
gender as a compounding
underestimation, stress, and consult with an attorney;

factor. reduced workplace belonging. • Provide at least 21 days to

consider the agreement
Recruitment emerged as the
(or 45 days in group
most common point of bias.
terminations); and
Sixty-one percent of
respondents observed age-discriminatory practices in job • Allow seven days to revoke the agreement after
ads, particularly those that specify qualifying age ranges signing.
or strict experience requirements. Among these, 57%
noted a clear preference for candidates aged 25–34, The Impact of Ageism and the Importance of Integrating
reflecting a narrow view of the “ideal” hire in many Age into DEIB Initiatives
organizations. Ageism affects both individuals and businesses and isn't
United States: Age Discrimination in Employment Act limited to older workers. While older employees face
(ADEA) stereotypes of being outdated or resistant to change,
younger professionals are often dismissed as
The Age Discrimination in Employment Act of 1967
inexperienced or entitled. Such biases harm morale, job
(ADEA), enforced by the U.S. Equal Employment
satisfaction, and performance. Discrimination based on
Opportunity Commission (EEOC), protects individuals
age, whether due to youth or seniority, leads to exclusion
aged 40 and above from age-based workplace
from opportunities, underestimation, stress, and reduced
discrimination. It applies to private employers with 20+
workplace belonging. Younger workers may be passed
employees, state and local governments, labour
over for leadership, while older employees risk being side-
organizations, employment agencies, and federal entities.
The ADEA prohibits age discrimination in all aspects of lined or pushed into early retirement.
employment, including hiring, firing, promotion, For businesses, ageism stifles innovation, fresh thinking,
compensation, and training. However, individuals must and continuity by marginalizing both ends of the talent

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 SPECIAL INSIGHT

spectrum. Ignoring age bias weakens resilience and limits

responsiveness to diverse market needs. Excluding age
from DEIB efforts undermines inclusion, reduces Recognizing age as a key
generational diversity, and fosters biased workplaces. element of diversity and promoting
Organizations that prioritize age inclusion build stronger,
more creative, and empathetic teams. In India's lifelong learning, intergenerational
multigenerational workforce, embedding age in DEIB is collaboration, and inclusive policies is
essential for long-term growth and equity.
both an ethical responsibility and a
Recommendations
business imperative.
For Policymakers

Policymakers should introduce comprehensive legislation

that explicitly prohibits age discrimination in the
workplace. This legislation must clearly define age
Regular assessments of pay equity must include age as a
discrimination, both direct and indirect and provide a
parameter alongside gender, ethnicity, and other diversity
framework for addressing it through accessible legal
factors. Conducting periodic pay audits helps ensure
remedies. Enforcement mechanisms should include an
fairness, and implementing transparent pay structures
independent body to investigate complaints, the ability to
based on skills, responsibilities, and performance rather
impose penalties such as fines or mandatory
than tenure, reduces the risk of age-related wage bias.
reinstatement, and mechanisms for periodic audits of
age-inclusion practices. Additionally, public awareness Finally, age inclusion must encompass all age groups.
campaigns and employer guidelines can help in ensuring While older employees often face overt bias, younger
that such laws are understood and effectively workers also contend with stereotypes that undermine
implemented. their potential. Employers should foster a culture where
contributions are judged on merit, not age, ensuring early-
For Employers
career professionals have access to mentorship,
Employers play a critical role in combating ageism and leadership opportunities, and recognition. Recognizing
embedding age into DEIB strategies. They should revise age as a key element of diversity and promoting lifelong
recruitment and HR policies to remove age-biased learning, intergenerational collaboration, and inclusive
language and focus job descriptions on skills and policies is both an ethical responsibility and a business
experience over age limits. Training programs to address imperative. When embedded in workplace culture, these
unconscious bias and promote age awareness are practices help all employees feel valued and empowered
essential, supported by internal policies that prohibit age to contribute meaningfully.
discrimination and provide confidential, retaliation-free
Conclusion
grievance mechanisms.
Ageism remains an overlooked issue in India's DEIB
Skill-building should be prioritized, especially with new efforts, with both older and younger employees facing
technologies, by offering older employees reskilling bias due to the lack of legal safeguards and age-inclusive
opportunities tailored to their roles and learning styles. workplace policies. Older professionals are often
Transition programs like phased retirement, mentoring, or excluded from leadership and upskilling, while younger
advisory roles can keep older professionals engaged staff are dismissed as inexperienced, undermining
while offering flexibility. diversity, innovation, and institutional memory.
Reverse mentoring, where younger employees support As India navigates the dual challenge of an ageing
seniors with new tools or cultural trends, encourages population and a growing youth workforce, it has a critical
mutual respect and learning. Employers should foster opportunity to promote age inclusion. Drawing on global
mentoring pairs across age, gender, and cultural lines, examples like the ADEA and adopting practices like
enabling two-way knowledge sharing and cross- intergenerational mentoring and fair recruitment can help
generational support. Deliberately composing cross- build workplaces that value all age groups.
functional teams with diversity enhances innovation,
resilience, and empathy, replacing stereotypes with Inclusion of all ages is not optional; it's key to creating
inclusion. resilient, equitable, and future-ready organizations.

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 SPECIAL INSIGHT

Illustrative Table supporting NO Discrimination based on Age:

S. No Country Legal Provisions

Section 15 of the Canadian Charter of Rights; Canadian Human Rights Act 1985; Various Provincial
1. Canada
and Territorial Human Rights Acts.

2. France The French labour code; Article 432-7 of the Criminal Code.

3. Germany General Equal Treatment Act 2006.

4. China No specific Provision.

5. Singapore Retirement and Re-employment Act 1993.

Swiss Federal Constitution (Article 8, paragraph 2). No separate legislation, some aspects covered
6. Switzerland
in the Swiss Code of Obligations and the Swiss Civil Code.

7. Russia Russian Labour Code.

The Constitution of the Netherlands (article 1); Equal Treatment in Employment

8. Netherlands
(Age Discrimination) Act.

Employment Equity Act 55 of 1998 ('EEA'); the Labour Relations Act 66 of 1997; and the Promotion
9. South Africa
of Equality and Prevention of Unfair Discrimination Act 4 of 2000.

10. New Zealand The New Zealand Bill of Rights Act 1990 and Human Rights Act 1993.

Article 9 of the Act on Comprehensively Advancing Labour Measures, and Stabilizing the
11. Japan Employment of Workers, and Enriching Workers' Vocational Lives; Article 90 of the Civil Law
(antagonistic to public order and morals); Article 709 of the Civil Law (basis of a tort action).

12. Australia The Age Discrimination Act 2004 (Cth).

The Prohibition of Age Discrimination in Employment and Aged Employment Promotion Act;
13. South Korea
The Framework Act on Employment Policy; and the National Human Rights Commission Act.

14. Egypt Articles 9 and 53 of the Constitution of Egypt 2014.

Article 1, Paragraph 3 of the Mexican Federal Constitution; The Federal Labour Law; the Federal
15. Mexico
Law to prevent and eliminate discrimination; Article 206 of Mexico City's Criminal Code.

Dr. Sonal Verma is a seasoned corporate lawyer Ms. Deeksha Tiwari specializes in ESG reporting,
with over 18 years of experience in ESG, advisory, and legal compliance. A law graduate
regulatory, and compliance frameworks. In from NMIMS School of Law, she is dedicated to
furtherance to his BALLB Degree he has promoting sustainable and responsible business
accomplished LL.M & Ph.D in law. He is an practices.
Amazon best seller author and has made inspiring
TedX Talks on ESG & Law. He also actively serves
on key Academic and Industry- Legal & regulatory
committees in India.

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 CELEBRATING

Institute of Directors 35 YEARS

TH
26 INTERNATIONAL CONFERENCE ON
Environment Management and
Climate Change 2025
June 26 - 27, 2025, Bengaluru (India)

A Report

THEME

Board Leadership for

Driving Climate Action &
Promoting Sustainability [Link]
Special
TALK

Driving
Transformation:
Advancing India's Vision
for Atmanirbharta and
Sustainability

Mr. H. D. Kumaraswamy
Hon'ble Union Cabinet Minister
of Heavy Industries and Steel
Govt. of India

average of 4 tons. In contrast, larger economies like the

United States, Australia and Canada, have per capita
emissions exceeding 14 tons. Despite our comparatively
low per capita emissions, the Government of India, under
the visionary leadership of our Hon'ble Prime Minister,
Shri. Narendra Modi Ji, has made bold commitments at
the Conference of Parties (COP). This includes achieving
Distinguished Dignitaries, Esteemed delegates, Industry 500 gigabytes of non-fossil fuel capacity by 2030 and
leaders, ladies & gentlemen. reaching net-zero emissions by 2070.
It is my pleasure to address this eminent gathering at the As the Union Minister of Heavy Industries and Steel, I am
26th International Conference on Environment deeply cognizant of the pivotal roles, both sectors play in
Management and Climate Change. This platform serves nation-building. From infrastructure to manufacturing,
as a vital conference of industrial progress and these industries form the backbone of our economic
environmental preservation, fostering a balance that is growth. Yet, with this responsibility comes the urgent need
critical for our nation's sustainable future. Hosting this to redefine progress. Notably, the Steel and Road
conference in Bangalore, India's Silicon Valley, it's Transport Sectors, each contribute approximately 12%, and
particularly symbolic in amplifying how technology and a combined 24% of India's energy related carbon dioxide
sustainability can go hand in hand. India is among the emissions. Under the guidance of our Hon'ble Prime
fastest growing economies in the world. While our carbon Minister Narendra Modi Ji, India is making significant
dioxide emissions, from fossil fuels and industrial progress. We are targeting a steel production capacity of
processes, have increased over the recent 8 years, it is 300 million tons by 2030, while remaining aligned with our
also important to recognize that India's historical share of net-zero commitments for 2070. In Automobile sector,
cumulative global greenhouse gas emissions stands at India currently manufactures over 5 million passenger and
just 4%, despite accounting for nearly 17% of the global commercial vehicles annually, ranking 3rd globally.
population between 2015-2019. This translates to a per Furthermore, India has emerged as the largest market for
capita emission of only 1.89 tons, less than half the global two-wheelers worldwide. In alignment with national

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 S P E C I A L TA L K

continuation of these efforts, just two days ago, I had the

honour of launching the portal for applications under the
scheme for promoting the manufacturing of electric
I urge you to integrate passenger cars in India. This initiative aims to invite global
car manufacturers to set up electric vehicle production
sustainability into every aspect facilities in India, marking a major strike towards import
substitution and technological advancement.
of your operations, invest in
To all the industry leaders present here today, I urge you to
Research and Development integrate sustainability into every aspect of your
operations, invest in Research and Development (R&D) for
(R&D) for cleaner production cleaner production methods and collaborate closely with
methods and collaborate closely the government to scale up green solutions that are both
impactful and inclusive.
with the government to scale up
green solutions that are both The Golden Peacock Awards, by the Institute of Directors,
have played a pivotal role in raising the bar for corporate
impactful and inclusive. accountability. I extend my heartiest congratulations to
this year's winners. The government of India is fully
committed to supporting this green transition through
policy incentives, financing mechanisms and
infrastructure development. However, meaningful and
priorities, the Ministry of Heavy Industries and Steel is lasting change will only be realized when every
actively advancing local manufacturers of vehicles, and stakeholder from large corporations to MSMEs, integrates
promoting cleaner fuels, generating employment, and sustainability as a shared mission and moral imperative.
supporting the development of 'critical capital goals' for
the automobile and manufacturing sectors. Through I wish you all a productive and impactful conference!
coordinated efforts across these domains, we are
committed to driving India's transition to sustainable
transportation and fostering inclusive industrial growth.
The Ministry is focused on its mission to help the industry
achieve excellence through 'Atmanirbhar.' To this end, we Excerpts from the 'Chief Guest Address'
are implementing production-related incentives, schemes delivered by Mr. H. D. Kumaraswamy at the
for both the Automobile and Advanced Chemistry Cell Golden Peacock Award Nite at the IOD's 26th
(ACC) Sectors. International Conference on Environment
Additionally, another Prime Minister's E-DRIVE Scheme Management and Climate Change 2025 held
provides incentives to buyers of electric vehicles, during June 26-27, 2025 in Bengaluru.
encouraging wider adoption of clean mobility solutions. In

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 CELEBRATING
TH
26 INTERNATIONAL Institute of Directors 35
CONFERENCE ON YEARS

Environment
Management and
Climate Change
2025 THEME

Board Leadership for

June 26 - 27, 2025 Driving Climate Action &
Bengaluru (India) Promoting Sustainability

PARTNERS & SUPPORTERS

GOLD Partners

SILVER Partners

BRONZE Partners

ASSOCIATE Partners Supported By

#iodglobal [Link]
 A Detailed Report

26 TH INTERNATIONAL
CONFERENCE ON

Environment Management
and Climate Change
2025
THEME
also Presentation of
Board Leadership for Driving June 26 - 27, 2025
Climate Action & Promoting Sustainability
Golden Peacock Awards Hotel The Lalit Ashok, Kumarakrupa Road
Environment Management | OHS | Energy Efciency
Eco-Innovation for the year 2025 Bengaluru (India)

The Institute of Directors (IOD), India, hosted the 26th existence. The Conference focused on integrating climate
International Conference on Environmental Management action within corporate frameworks and highlighted the
and Climate Change in Bengaluru (India) during June imperative of embedding sustainable development and
26–27, 2025. The venue of the Conference was Hotel The climate finance into the organisation processes. Speakers
Lalit Ashok in Bengaluru. The Theme of this year's Annual collectively emphasized the significance of the emerging
Conference was “Board Leadership for Climate Action & circular economy and offered strategic insights on
Promoting Sustainability”. achieving a carbon-neutral future for the mankind.
The famed Golden Peacock Awards, instituted by the IOD
for 'Occupational Health & Safety', 'Environment PLENARY SESSION - I
Management', 'Energy Efficiency' & 'Eco-Innovation' for INAUGURAL SESSION
2025 were also conferred on the winners during the
Awards ceremony. The Convention was attended by The session commenced with the ceremonial lighting of
around 400 participants, comprising industry and the lamp by Mr. Manoj K. Raut; Ms. Nirupa Shankar;
business leaders, board members, directors, policy- Mr. Sanjay Kumar Singh, IAS (Retd.); Ms. Hilary McGeachy;
makers, educationists, and private as well as public sector Mr. Desh Deepak Verma, IAS (Retd.); and Mr. Ashok
institutions. Both Central and State governments were Kapur, IAS (Retd.).
also represented. The 'Welcome Address' was delivered by:
The Conference commenced with a distinguished panel Mr. Ashok Kapur, IAS (Retd.)
of dignitaries who underscored the critical relevance of Director General
global warming and its implications for our planet's Institute of Directors, India

Distinguished guests after the inaugural lighting of the lamp

(L to R) Mr. Manoj K. Raut, Ms. Nirupa Shankar, Mr. Sanjay Kumar Singh, IAS (Retd.), Ms. Hilary McGeachy, Mr. Desh Deepak Verma, IAS (Retd.),
and Mr. Ashok Kapur, IAS (Retd.)

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PLENARY SESSION - I
INAUGURAL SESSION

Mr. Ashok Kapur, IAS (Retd.) Ms. Nirupa Shankar Mr. Sanjay Kumar Singh, IAS (Retd.) Ms. Hilary McGeachy
Director General Jt. Managing Director Director Consul General for Karnataka
Institute of Directors, India Brigade Group Strategy & External Relations, and Telangana
delivering the ‘Welcome Address' delivering the 'Special Address' Jindal Steel & Power Ltd.; Australian Consulate General
Former Secretary, Ministry of Steel delivering the 'Special Address'
Govt. of India
delivering the 'Special Address'

Distinguished Guests and speakers of the Inaugural Session releasing the Convention Souvenir
(L to R) Mr. Ashok Kapur, IAS (Retd.); Ms. Nirupa Shankar; Mr. Sanjay Kumar Singh, IAS (Retd.); and Ms. Hilary McGeachy

Distinguished Guests and speakers of the Inaugural Session releasing the 'IOD Business Sustainability Handbook'
(L to R) Mr. Ashok Kapur, IAS (Retd.); Ms. Nirupa Shankar; Mr. Sanjay Kumar Singh, IAS (Retd.); and Ms. Hilary McGeachy
 REPORT

Mr. Kapur set the tone for a hopeful and impactful the perspective of the steel industry, which is very robust
conference. He acknowledged the presence of change and widespread in India. According to him, 12% of CO2
makers and urged them to take greater action on climate emissions are from the steel industry; 2.4 tonnes of carbon
change. Emphasizing the role of directors in driving policy is produced per tonne of steel. He shed light on the fact
and decision-making, he highlighted India's that steel is a capital-intensive sector and decarbonisation
environmentally conscious spirit rooted in its philosophy of steel is cost intensive. He summarised the challenges
and traditions. He noted that technological innovation that the steel industry faces with economic feasibility. He
today draws from traditional conservation methods, and talked about green hydrogen as an upcoming clean fuel
that ESG is now a mind-set, not just an economic term. He and how its cost needs to come down to at least 1$ per kg.
called for stricter environmental laws and congratulated Steel made from scrap metal has no emissions, but this
the Golden Peacock Award winners, concluding with a process has a long way to go. He concluded with
powerful reminder that environmental protection is no emphasizing how innovation and technology could not be
longer a choice, it is survival. ignored in Board decision-making.

He quoted the UN Secretary General, Dag Hammarskjöld, Ms. McGeachy highlighted Australia's Sustainability and
who said “Mankind is racing in the Highway to Hell.” carbon neutrality measures, addressing climate
vulnerabilities and the India-Australia relations in this field.
This was followed by the 'Special Addresses' delivered by:
She shared Australia's target to reduce emissions by 82%
1. Ms. Nirupa Shankar by 2050 through scaling EV adoption, biodiversity
Jt. Managing Director conservation, and expanding protected areas.
Brigade Group Emphasizing inclusivity, she spoke about initiatives for
training women and youth as rooftop solar technicians,
2. Mr. Sanjay Kumar Singh, IAS (Retd.) who had already installed nearly 10 million solar panels.
Director, Strategy & External Relations, She also discussed end-to-end green energy supply
Jindal Steel & Power Ltd.; chains and Australia's lithium surplus, which supports
Former Secretary, Ministry of Steel India's EV goals. Her address stressed global collaboration
Govt. of India to mainstream renewable energy.
3. Ms. Hilary McGeachy
The session concluded with the release of the Convention
Consul General for Karnataka and Telangana
Souvenir and IOD Handbook on Business Sustainability by
Australian Consulate General
the Distinguished Speakers during the inaugural session.
Ms. Shankar spoke about sustainable efforts being
implemented by her Brigade Group. She shared that India PLENARY SESSION - II
is the fastest-growing economy in the world today, but the
BOARD STRATEGY AND ACCOUNTABILITY FOR
ever-increasing population has led to extreme congestion,
CLIMATE GOVERNANCE AND BUSINESS
especially in metro cities. Building and construction
TRANSFORMATION
sectors accounted for 39% of global emissions and 30% of
energy costs. She spoke about how Real Estate could be a The session was Chaired by:
part of the solution, not the problem. Brigade Group has
employed different companies like EcoSTP, Clairco and Mr. Arun Balakrishnan
Strawcture in their manufacturing and construction Independent Director in Multiple Companies
processes. She outlined statistics about the sustainable Former CMD - HPCL
efforts undertaken successfully so far, which included Founder Chairman, HPCL-Mittal Energy
recovering 50% of construction waste, planting almost 1 Mr. Balakrishnan covered the evolution of environmental
lakh trees, water positivity, and aiming to construct all statutes in India since the pre-industrial era, citing the
green buildings by 2040. Her presentation sparked a increase in chimney stack heights as an example of early
positive discussion on paving the way towards newer and pollution mitigation. He highlighted the Bhopal Gas
more creative green solutions in growing sectors like Tragedy of 1984 and the subsequent Environment
building and construction. Protection Act of 1986. He discussed India's international
Mr. Singh in his speech, addressed the fact that the global climate targets and SEBI's mandate for the top 1000 listed
temperature limit on a 1.5°C increase according to the companies to file Business Responsibility and
Paris Agreement had already been crossed. He provided Sustainability Reports from FY 2022–23. He noted that

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PLENARY SESSION - II
BOARD STRATEGY AND ACCOUNTABILITY FOR CLIMATE GOVERNANCE
AND BUSINESS TRANSFORMATION

Mr. Arun Balakrishnan Mr. Shailesh Nigam Dr. Zelalem Birhanu Taffesse Dr. Nishith Gupta
Independent Director in Chief Operating Officer - Chief of Field Office - Chief Technical Officer
Multiple Companies EEMEA, SAARC & CIS Andhra Pradesh, Karnataka, SYSTRA India
Former CMD - HPCL, AAF International, India and Telangana
Founder Chairman UNICEF
HPCL-Mittal Energy Ltd.
Delivering 'Special Address' as
'Session Chair'

Mr. Sanjay Kumar Singh, IAS (Retd.), Director, Strategy & External Relations, Jindal Steel & Power Ltd.; Former Secretary, Ministry of Steel, Govt. of India,
presented mementos to the distinguished speakers of the Session.
(L to R) Mr. Arun Balakrishnan; Mr. Shailesh Nigam; Mr. Sanjay Kumar Singh, IAS (Retd.); Dr. Nishith Gupta; and Dr. Zelalem Birhanu Taffesse
 REPORT

policies so far had been government-driven, not Dr. Gupta gave a brief description of the role of the
corporate-led. He provided insights on the fuel industry, mobility sector in the sustainability journey. He spoke
including fuel consumption levels set by the Bureau of about SYSTRA's operations in the public transport
Energy Efficiency and greener practices like stopping infrastructure and corporate responsibility to achieve the
tetraethyl lead use and sulphur hydro-treatment. He board-level targets for sustainability. He talked about his
concluded by outlining the board's role in climate company's submission of the letter of intent to SBTI to
governance—aligning goals with business strategy, setting reduce emissions. He narrated the implementation of
metrics, ensuring disclosure, and addressing risks. Chennai Metro's 2nd phase and the cost-cutting of 25
thousand crores. He addressed questions from the
The session had the following co-panellists:
audience about his corporations' agenda about dealing
1. Mr. Shailesh Nigam with the pressures of short-term profit goals as opposed
Chief Operating Officer - EEMEA, SAARC & CIS to long-term ESG and sustainable goals. His talk was
AAF International, India enlightening and insightful.

2. Dr. Zelalem Birhanu Taffesse It was followed by an interactive Q&A Session with the
Chief of Field Office - large audience.
Andhra Pradesh, Karnataka, and Telangana
UNICEF PLENARY SESSION - III
3. Dr. Nishith Gupta THE BOARD'S ROLE: DEVELOPING TRANSITION PLANS
Chief Technical Officer & ENSURING CLIMATE DISCLOSURES
SYSTRA India
The session was Chaired by:
Mr. Nigam made a presentation titled “Boardroom to
Mr. Ramachandran R, IAS
Breathing room” where he elucidated the air pollution Managing Director
aspect, focusing on growing indoor air pollution. He Bangalore Metropolitan Transport Corporation Ltd.
referred to the increasing AQI of indoor environment as a (BMTC)
“hidden crisis”. He discussed the effects of biological
pollutants, combustion particulates and mineral Mr. Ramachandran gave a perspective on the transport
contaminants. He talked about the inclusion of circular sector, which is one of the highest contributors to
economy practices at AAF, which includes HVAC systems, emissions, especially in Bengaluru. He briefed the
filter media for recycling the air, recycling metals, green audience on the measures being taken to make the public
manufacturing and other sustainable designs. He urged transport greener. He stated that they had stopped
procuring diesel buses and are investing now in more
the board members in the audience to stand up and take
electric buses. He stressed the importance of solar
responsibility and explore clean air as a business
installations to make the energy supply (input) to the
opportunity, not just for environmental cleanliness but
product (output) fully renewable and green. He spoke
also to manage the indoor climate for better business
about integrating solar panels in new bus depots for
conduct and transformation of lifestyles.
electric buses. He was hopeful about being able to
Dr. Taffesse gave an inspiring talk on the youth outlook in procure 4000 extra buses in addition to the existing 6000
the ongoing efforts for a sustainable future. He advocated buses. He underlined the necessity of green vehicles run
for Children's rights to live in a clean and safe with green power. He mentioned hydrogen fuel cell
environment, including youth in decision-making. Children vehicles, an upcoming innovative technology for clean
are the future agents of change, and planning ahead renewable fuel.
should be a part of the board's strategy. He urged The Session had the following other distinguished
companies to move beyond CSR initiatives and reducing speakers:
the carbon footprint by making recruitment strategies
more inclusive and investing in the younger generation 1. Mr. Vijay Menon
and so-called backward communities. He accentuated Chief Operations Officer
the importance of multi-sectoral engagement with the Tata Motors Smart City Mobility Solutions
public sector, voluntary sector and local communities. His 2. Mr. Rajeev Khillan
speech was an insight into the social aspects of the fight Chief General Manager
against climate change. MECON Limited

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PLENARY SESSION - III
THE BOARD'S ROLE: DEVELOPING TRANSITION PLANS &
ENSURING CLIMATE DISCLOSURES

Mr. Ramachandran R, IAS Mr. Vijay Menon Mr. Rajeev Khillan Mr. Varun Chopra
Managing Director Chief Operations Officer Chief General Manager Executive Chairman
Bangalore Metropolitan Transport Tata Motors Smart City Mobility MECON Limited GEAR Group
Corporation Ltd. (BMTC) Solutions
Delivering 'Special Address'
as 'Session Chair'

Mr. Debabrata Dutta Mr. R. G. Rajan, Honorary Zonal Director, Institute of Directors, Former CMD, RCF/NFL/PDIL, Former Chairman, FAI/SCOPE,
Executive Director (EMD), presented mementos to the distinguished speakers of the Session.
Steel Authority of India Limited (L to R) Mr. Ramachandran R, IAS; Mr. Vijay Menon; Mr. Rajeev Khillan; Mr. R. G. Rajan; Mr. Varun Chopra;
(SAIL) and Mr. Debabrata Dutta

PLENARY
SESSION - IV
CASE STUDY
PRESENTATIONS ON
'ENVIRONMENT
MANAGEMENT’

Dr. Neelima Alam Mr. Shailesh Nigam, Chief Operating Officer - EEMEA, SAARC & CIS,
Scientist F & Associate Head, AAF International, India, presented memento to the distinguished Session Chair
CEST Division (L to R) Mr. Shailesh Nigam; and Dr. Neelima Alam
Ministry of Science & Technology,
Govt. of India
Delivering 'Special Address'
and as 'Session Chair'
 REPORT

3. Mr. Varun Chopra hydrogen technology and its potential to replace fossil
Executive Chairman fuels as a primary fuel source. He suggested the removal
GEAR Group of blast furnaces to smelt steel and hereby reduce the
footprint of the industry. Another point covered by him
4. Mr. Debabrata Dutta
was the Research and Development for sustainable
Executive Director (EMD)
targets which can be done by comprehensive climate
Steel Authority of India Limited (SAIL)
funding and curating tie-ups with various other
Mr. Menon spoke on the imperative for the board to companies and industries. Mr Dutta concluded by saying
achieve net-zero milestones and how to integrate them that change begins at the leadership level.
into day-to-day practices for Executive decision-making. This was followed by an interactive Q&A Session with the
He underlined the significance of finance and audience.
sustainability working in tandem, which starts with capital
allocation for achieving the SDGs. He talked about supply
chain strategy, identifying the weak links and providing PLENARY SESSION - IV
transparency to all the involved stakeholders. He SUCCESS STORIES IN EFFECTIVE IMPLEMENTATION
elaborated on 'risk assessment' and integrating climate OF 'ENVIRONMENT MANAGEMENT’
risks into 'enterprise risk' management. He also spoke CASE STUDY PRESENTATIONS
about capacity building at leadership and operational
levels and examining the progress of the intended The 'Special Address' was delivered by:
transition targets. Dr. Neelima Alam
Mr. Khillan outlined the concept of green infrastructure Scientist F & Associate Head, CEST Division
and cleaner steel technologies. He cited examples of Ministry of Science & Technology
Sustainability measures taken by MECON to reduce their Govt. of India
carbon footprint. He shared instances like 'zero liquid Dr. Alam stated that significant progress had been made
discharge' and treating, and reusing all the generated in scientific and technological fields to foster Sustainability
industrial wastewater, treating effluents like hexavalent and reduce carbon emissions. She highlighted
chromium in water at their chromium mines in Odisha, advancements in modern Seismology that aid in
and zero discharge of untreated water into water bodies. understanding Earth systems and disaster mitigation.
Their goal is to reduce Scope 1 and Scope 2 GHG Emphasizing translational R&D, she pointed to low-carbon
emissions, and this is being achieved by reusing the gas in technologies in hard-to-abate sectors like steel and
blast furnaces, direct rolling of steel, and planting green cement, including CO₂ conversion into methanol and
belts around the industrial campus. dimethyl ether. She noted the deployment and growing
Mr. Chopra highlighted the transition to 'net zero' momentum of Carbon Capture and Utilization (CCU)
emissions as a key objective for national and multinational technologies in the steel sector, supported by pilot
companies. He discussed GEAR's budget allocation for projects assessing scalability. She stressed the role of
climate targets and the draft notification on the Carbon public-private partnerships in accelerating green
Credit Trading Scheme. Emphasizing the supply chain as technology commercialization. She also highlighted Indo-
the starting point for carbon neutrality, he noted that Swedish collaboration in clean energy research and
GEAR now leads in zero-emission material handling innovation. On e-mobility, she underscored EVs as
equipment (MHEs). He compared lithium-ion and lead- essential to meeting emission targets, with infrastructure
acid batteries, citing lithium's higher efficiency and development underway. She concluded by sharing
sustainability. He shared that switching to lithium-ion updates on water technology initiatives, stressing the
batteries had saved 2.5 lakh litres of diesel and reduced need for sustainable water management to combat
690 tonnes of CO₂. He also stressed the importance of growing scarcity and pollution.
reducing operational costs while improving outcomes Case Studies in the 'Environment Management' category
and highlighted GEAR's inclusive hiring of more women were shared respectively by the below mentioned
and transgender forklift operators. companies:
Mr. Dutta started his speech by reiterating the pressing 1. TVS Motor Company Limited
need of the hour which is renewable sources of energy.
He, like many speakers before him spoke about green 2. Honda Motorcycle & Scooter India Private Limited

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PLENARY SESSION - V
TRANSFORMATIVE TECHNOLOGY, INNOVATION,
AND CAPACITY-BUILDING FOR SUSTAINABILITY

Fr. Victor Lobo SJ Mr. Rajeev Kumar Gupta Mr. Ganesh Kalia
Vice Chancellor Director (Rail & Metro Business) Director
St. Joseph's University BEML Limited Sustainability & Corporate Affairs
Delivering 'Special Address' Bisleri International Pvt. Ltd.
as 'Session Chair'

Dr. Nishith Gupta Mr. Desh Deepak Verma, IAS (Retd.), Principal Advisor, Institute of Directors,
Chief Technical Officer Former Secretary General, Rajya Sabha, presented mementos to the
SYSTRA India distinguished speakers of the Session.
(L to R) Fr. Victor Lobo SJ; Mr. Rajeev Kumar Gupta; Mr. Desh Deepak Verma,
IAS (Retd.); Mr. Ganesh Kalia; and Dr. Nishith Gupta
 REPORT

3. Kirloskar Brothers Limited, Pune He reported progress across three key areas: R&D,
product development for futuristic solutions, and the
4. Lupin Limited
establishment of an innovation Incubation Centre and a
Each presentation was followed by an interactive Q&A Central Research Facility. He mentioned the launch of
Session with the large audience. Mumbai's driverless metro and the development of the
new Vande Bharat trains. He also noted the creation of
PLENARY SESSION - V advanced equipment like rope shovels and cleaner
products for Indian Railways to boost efficiency and
TRANSFORMATIVE TECHNOLOGY, INNOVATION, AND reduce environmental impact. Furthermore, regenerative
CAPACITY-BUILDING FOR SUSTAINABILITY metro systems have been designed so as to feed 20–30%
The session was Chaired by: of energy back into the system, contributing to energy
savings and greater sustainability in public transport.
Fr. Victor Lobo SJ
Vice Chancellor Mr. Kalia stated that while plastic is often criticised, PET
St Joseph's University, Karnataka has been scientifically proven as the safest form for
packaging drinking water, with a lower environmental
Fr. Lobo delivered an inspiring presentation on higher footprint than aluminium bottles. To address Waste
education systems and the SDG agenda. He briefly Management and public participation, several MoUs had
discussed the causes of Climate Change and emission been signed with colleges across the country to support
sources and explained the distinction between 'footprint' clean-up drives, install waste bins, and create effective
and 'handprint' to the audience. Emphasizing student collection systems. He reported that his company is
involvement, he stressed their role as future ambassadors working towards a zero plastic-to-landfill cycle, with a
of change & innovation. He cited initiatives by his focus on collecting back 90–95% of PET bottles. He also
university to promote sustainability, including the shared fruitful reuse initiatives like making benches from
introduction of a [Link]. in Environmental Science in 1980, recycled bottle caps. On water conservation, he
which has since nurtured new climate leaders. The highlighted the construction of ponds, check dams,
university operates a biogas plant for hostel food heating, restoration of a water reservoir in Leh, and widespread
recycles water in campus buildings, uses separate plastic rainwater harvesting. He added that water trading, credits,
recycling bins, and has planted native trees to green the and fiscal tools are being explored to promote efficient
campus. Fr. Lobo's presentation highlighted how small- use and replenishment. He stated that 104% of generated
scale efforts can drive significant impact in the larger plastic is being recycled, a unique achievement.
ecosystem.
Dr. Gupta reported that CSR funds were being effectively
The Session had the following distinguished speakers: used for sustainability and infrastructure projects,
1. Mr. Rajeev Kumar Gupta including pilot corridors near Minto Bridge and the
Director (Rail & Metro Business) Yamuna River. To support climate action, technological
BEML Limited platforms like ClimatePlus, CarbonTracker, and
ClimateViz are being integrated for monitoring, carbon
2. Mr. Ganesh Kalia management, and data visualization. He noted efforts to
Director, Sustainability & Corporate Affairs save steel through a CSR initiative backed by an MoU with
Bisleri International Pvt. Ltd. IIT Delhi. U-shaped girders are being used in metro
3. Dr. Nishith Gupta construction to enable faster, safer, and more efficient
Chief Technical Officer development. He also highlighted the Mumbai Coastal
SYSTRA India Road Project, where monopile technology was enhancing
structural stability while minimizing environmental
Mr. Gupta informed that urban mobility solutions had disruption. However, he acknowledged future challenges
contributed to an overall net carbon reduction of 4.81 such as the limitations of the L1 tendering process, and
million tonnes. He spoke about the large-scale installation delays often caused by design and project management
of a 23 MW wind energy plant and rooftop solar panels to consultants and other regulatory checks.
reduce reliance on non-renewable sources. Under the 'Ek
Ped Maa Ke Naam' initiative, 6,000 trees had been planted This was followed by an interactive Q&A Session with the
to enhance green cover and promote ecological balance. large audience.

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PLENARY SESSION - VI
CLEAN GREEN ENERGY INFRASTRUCTURE FOR
A SUSTAINABLE FUTURE

Mr. N. Sivasailam, IAS (Retd.) Prof. S. R. Niranjana Dr. Gopiprasad S. Mr. Sudhir Balakrishna More
Former Special Secretary (Logistics) Vice Chairman Head - ESG & Sustainability Head – Safety & Environment
Department of Commerce Karnataka State Higher Education Provident Housing Limited Afcons Infrastructure Limited
Govt. of India Council
Delivering 'Special Address'
as 'Session Chair'

Mr. Ganesh Kalia, Director, Sustainability & Corporate Affairs, Bisleri International Pvt. Ltd., presented mementos to the distinguished speakers of the Session.
(L to R) Mr. Ganesh Kalia; Prof. S. R. Niranjana; Mr. N. Sivasailam, IAS (Retd.); Dr. Gopiprasad S.; and Mr. Sudhir Balakrishna More
 REPORT

providing platforms for climate action, and to introduce

PLENARY SESSION - VI formal Bachelor's and Master's programme in
CLEAN GREEN ENERGY INFRASTRUCTURE FOR A Environmental Studies. Fostering environmental
SUSTAINABLE FUTURE responsibility among students involves understanding the
links between Climate Change, biodiversity loss, pollution,
The session was Chaired by: and water scarcity, thereby promoting a holistic view of
environmental challenges.
Mr. N. Sivasailam IAS (Retd.)
Former Special Secretary (Logistics) Dr. Gopiprasad emphasized that clean energy adoption is
Department of Commerce both essential and inevitable for a sustainable future, for
Govt. of India mankind stating that a green future cannot be built with a
grey mindset. He highlighted the critical role of robust
Mr. Sivasailam informed that steps were being taken to infrastructure, especially power grids, in enabling this
promote cleaner fuels in the shipping industry. He stated transition. While large-scale change poses challenges, he
that the use of low-sulphur fuels for ships was being noted it is achievable with the right frameworks,
encouraged as part of efforts to reduce marine pollution stakeholder incentives, clear goals, and vision. Citing
and improve air quality in port cities. He acknowledged global examples like Germany's shift from fossil fuels to
that the cost of electric vehicles (EVs) continues to remain renewables, he illustrated how systematic change can
comparatively higher than that of internal combustion succeed. He pointed to 'solar expansion' in emerging
engine (ICE) vehicles. However, he indicated that despite markets and community microgrids in Africa as promising
this cost difference, there was a clear strategic shift modelsfor the future. Stressing a value-based approach,
underway towards cleaner and more sustainable mobility he concluded that clean energy is not just technological
solutions. It was also reported that research and pilot but a cultural shift—aligning people, purpose, and
projects were being undertaken to explore the potential possibilities.
of green coal, aimed at reducing the carbon footprint of
traditional coal usage through cleaner technologies and Mr. More stated that today the construction industry
sustainable practices. accounts for around 36% of global energy consumption.
He highlighted renewable energy efforts such as installing
The session had the following distinguished speakers: solar panels in farms, and streetlights, along with the
1. Prof. S. R. Niranjana development of onshore and offshore wind power. He
Vice Chairman stressed modernising energy infrastructure through smart
Karnataka State Higher Education Council grids and promoting green building practices using
bamboo, fly ash bricks, and recycled concrete, alongside
2. Dr. Gopiprasad S. smart building technologies. He also discussed
Head - ESG & Sustainability sustainable transport infrastructure, including expanding
Provident Housing Limited EV charging networks and electric public transport. He
emphasised the need for robust policy and regulatory
3. Mr. Sudhir Balakrishna More
frameworks, like renewable portfolio standards, to ensure
Head – Safety & Environment
clear targets and accountability in clean energy adoption.
Afcons Infrastructure Limited
This was followed by an interactive Q&A Session with the
Prof. Niranjana emphasized integrating Environmental
audience.
Management and Climate Change awareness into higher
education. He recommended prioritizing awareness
campaigns, campus greening, and adopting a cross- PLENARY SESSION - VII
disciplinary approach across academic fields. Experiential GOLDEN PEACOCK AWARDS NITE
learning focused on climate impact and management
was vital for equipping students with practical skills. He The 'Opening Address' was delivered by:
highlighted the importance of community engagement,
Mr. Manoj K. Raut
outreach programme, and multi-stakeholder partnerships.
CEO & Secretary General
Universities should enhance data collection and analysis
Institute of Directors, India
to monitor environmental performance and reduce
ecological footprints. He also urged institutions to support Mr. Raut conveyed that recent initiatives reflected a
educators and students through resources, training, and celebration of responsibility, innovation, and leadership,

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PLENARY SESSION - VII
GOLDEN PEACOCK AWARDS NITE

Mr. H. D. Kumaraswamy Mr. Manoj K. Raut Mr. Desh Deepak Verma, IAS (Retd.) Mr. R. G. Rajan
Hon'ble Union Cabinet Minister of Secretary General & CEO Principal Advisor Honorary Zonal Director
Heavy Industries and Steel Institute of Directors Institute of Directors Institute of Directors
Govt. of India delivering the 'Opening Address' Former Secretary General Former CMD, RCF/NFL/PDIL
Rajya Sabha Former Chairman, FAI/SCOPE
delivering the 'Welcome Address’ delivering the 'Vote of Thanks'

The Senior Leadership of the Institute of Directors presented memento to Mr. Ashok Kapur, IAS (Retd.), Director General, Institute of Directors
the Hon'ble Chief Guest Mr. H. D. Kumaraswamy presented bouquet to the Hon'ble Chief Guest Mr. H. D. Kumaraswamy
(L to R): Mr. Ashok Kapur, IAS (Retd.); Mr. Manoj K. Raut; Mr. H. D. Kumaraswamy;
and Mr. Desh Deepak Verma, IAS (Retd.)

GOLDEN PEACOCK AWARDS

WINNERS
 REPORT

recognising the efforts of individuals and organisations emissions. He reaffirmed India's ambitious climate goals,
who are driving meaningful change. He highlighted that stating that the country aimed to achieve 500 gigawatts of
the Golden Peacock Awards, established by IOD in 1991, non-fossil fuel energy capacity by 2050, with a broader
have become a respected institution in acknowledging vision of attaining complete carbon neutrality by 2070. He
excellence across various industrial sectors. He drew attention to the steel and road transport sectors,
emphasized the critical role of the boards in shaping which were identified as critical areas for decarbonisation
organisational priorities, particularly in the areas of efforts. He mentioned that as the largest market for two-
sustainability, safety, and innovation. He noted that in wheelers worldwide, India held significant potential for
today's rapidly evolving landscape, leadership at the promoting clean mobility solutions at scale. He informed
highest levels was instrumental in steering companies that production-linked incentive (PLI) schemes had been
towards sustainable and responsible practices. He introduced to encourage domestic manufacturing and
described the GP Awards as a testament to the innovation. He reiterated the significance of the Golden
pioneering work being undertaken to build a cleaner, Peacock Awards by describing them as a crucial platform
safer, and more sustainable tomorrow. He concluded by that recognised and honoured organisations
stating that these recognitions serve to honour the demonstrating excellence in sustainability, corporate
enterprising trailblazers who had demonstrated vision, governance, and innovation, thereby inspiring others to
commitment, and impact in their respective fields. follow suit.
This was followed by the 'Welcome Address' delivered by: Mr. Kumaraswamy's special talk is featured on the Page
Mr. Desh Deepak Verma, IAS (Retd.) No. 39 of this issue.
Principal Advisor
This was followed by the Presentation of Golden Peacock
Institute of Directors, India
Awards for Occupational Health & Safety, Environment
Former Secretary General, Rajya Sabha
Management, Energy Efficiency & Eco-Innovation – 2025.
Mr. Verma spoke about the presence of Mr. H. D.
All awardees were physically present at the ceremony and
Kumaraswamy, the Hon'ble Union Cabinet Minister of
received their Awards in person, having flown into
Heavy Industries and Steel, Government of India. He
Bengaluru from various parts of the country.
highlighted that under his leadership; the Ministry had
actively worked on developing mitigation strategies to The 'Vote of Thanks' was proposed by:
reduce the carbon footprint of the heavy industries and
steel sectors. Apart from his political career, he informed Mr. R. G. Rajan
that Mr. Kumaraswamy is also an avid filmmaker. He also Honorary Zonal Director
stated that during his tenure in the Rajya Sabha, Mr. Institute of Directors, India
Kumaraswamy had consistently risen to the occasion, Former CMD, RCF/NFL/PDIL,
known for his ability to bring the House to order during Former Chairman, FAI/SCOPE
intense debates and heated discussions. He further noted Mr. Rajan expressed his sincere appreciation to Shri H. D.
that his presence coming all the way from Delhi at this
Kumaraswamy, who had flown in especially from New
prestigious event served to increase the prestige of this
Delhi. Mr. Desh Deepak Verma, Mr. Manoj Raut, and all the
Award ceremony. He is regarded as a respected leader
distinguished Golden Peacock Award winners, whose
who values excellence, innovation, and recognition of
presence and contributions has added immense value to
outstanding contributions in inter alia, Sustainability.
the event. He expressed gratitude to all the participants,
This was followed by the 'Chief Guest Address' delivered whose active involvement had made the occasion
by: meaningful and engaging. Special thanks were conveyed
directed towards the Hotel Lalit Ashok, for their hospitality
Mr. H. D. Kumaraswamy
and support in hosting the event, as well as to the IOD
Hon'ble Union Cabinet Minister of Heavy Industries
Head Office and the entire Team of IOD Bengaluru for
and Steel
their dedicated efforts in ensuring the event's success that
Govt. of India
it was.
Mr. Kumaraswamy observed that while global CO2
emissions had been on the rise, India continued to
contribute only 4% to total global greenhouse gas (GHG)

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 PLENARY
SESSION - VIII (A) & (B)
CASE STUDY PRESENTATIONS
OCCUPATIONAL HEALTH &
SAFETY (OHS)

Dr. K. A. Retheesh Mr. Ram Ramasundaram IAS (Retd.)

Secretary President – Corporate Affairs
Kerala Khadi & Village Industries Board Hero Future Energies (HFE)
As 'Session Chair' As 'Session Chair'

PLENARY SESSION - IX
CORPORATE LEADERSHIP FOR CLIMATE RESILIENT GROWTH:
UNLOCKING DEMAND FOR LOW-CARBON PRODUCTS

Mr. Kaushik Mukherjee, IAS (Retd.) Ms. Thulasi Maddineni, IAS Mr. R. Ravishankar, IFS Mr. Sanjay Agarwal
former Chief Secretary to Secretary Chief Conservator of Forests General Manager, Corporate Services
Govt. of Karnataka Department of Personal and Govt. of Karnataka Bharat Electronics Ltd.
Delivering 'Special Address' Administrative Reforms (AR)
as 'Session Chair' Govt. of Karnataka

Mr. Ashok Kapur, IAS (Retd.), Director General, Institute of Directors, presented mementos to the distinguished speakers of the Session.
(L to R) Mr. Ashok Kapur, IAS (Retd.); Mr. Sanjay Agarwal; Ms. Thulasi Maddineni, IAS; Mr. Kaushik Mukherjee, IAS (Retd.); and Mr. R. Ravishankar, IFS
 REPORT

PLENARY SESSION - VIII (A) PLENARY SESSION - VIII (B)

SUCCESS STORIES ON EFFECTIVE IMPLEMENTATION SUCCESS STORIES ON EFFECTIVE IMPLEMENTATION OF
OF OCCUPATIONAL HEALTH & SAFETY (OHS) OCCUPATIONAL HEALTH & SAFETY (OHS)
CASE STUDY PRESENTATIONS CASE STUDY PRESENTATIONS

The 'Special Address' was delivered by: The session was Chaired by:

Dr. K. A. Retheesh Mr. Ram Ramasundaram, IAS (Retd.)

Secretary President – Corporate Affairs
Kerala Khadi & Village Industries Board Hero Future Energies (HFE)
Case studies in the 'Occupational Health & Safety'
Dr. Retheesh emphasized that employee safety and well-
category were shared respectively by the below-
being—regarded as an organisation's most valuable
mentioned companies:
assets—must remain a top priority across industries. He
noted that effective safety practices lead to zero 1. Hindustan Petroleum Corporation Limited
absenteeism, higher morale, and better retention, while 2. Seros Energy Private Limited, Navi Mumbai
neglect continues to cause workplace-related deaths and
3. Bharat Petroleum Corporation Limited
injuries globally. He stressed the enactment of
international standards such as ISO 45001 in enhancing 4. IndianOil Petronas Private Limited
stakeholder trust, safety, credibility, and commitment to 5. Grasim Industries Limited
employee welfare. India's evolving legal framework has
6. Mankind Pharma Limited
led to positive outcomes, including a 12% overall reduction
in fatal accidents. He highlighted how AI and IoT are 7. NTPC Limited
accelerating progress in Occupational Health & Safety 8. Nuclear Power Corporation of India Limited
(OHS) by enabling predictive incident prevention and real-
time monitoring. He concluded by recommending the 9. ArcelorMittal Nippon Steel India Private Limited
integration of OHS into strategic planning, supported by
industry–government collaboration, to ensure that every PLENARY SESSION - IX
worker returns home safely and in good health. CORPORATE LEADERSHIP FOR CLIMATE RESILIENT
GROWTH: UNLOCKING DEMAND FOR LOW-CARBON
Case studies in the 'Occupational Health & Safety'
PRODUCTS
category were shared by the below-mentioned
companies: This session was Chaired by:
1. Tagros Chemicals India Private Limited Mr. Kaushik Mukherjee, IAS (Retd.)
Former Chief Secretary, Karnataka
2. Tata Motors Limited
Mr. Mukherjee highlighted technological innovations like
3. Shanthi Gears Limited the Wankel engine as examples of continuous progress in
the energy and transport sectors. He stressed the need to
4. Himadri Speciality Chemical Limited
assess carbon footprints across the full lifecycle of
5. Afcons Infrastructure Limited products and infrastructure—not just at the operational
level. Citing windmill companies, he noted that while they
6. TKIL Industries Private Limited may run on wind energy, true footprint assessments must
7. Avery Dennison India Private Limited, Bengaluru include emissions from resource extraction,
manufacturing and infrastructure. He reported that
8. Larsen & Toubro Limited progressive firms are now exploring reuse and recycling of
windmill towers. He also advocated for decentralised
Each presentation was followed by an interactive Q&A
manufacturing to cut transportation emissions and build
Session with the large audience. resilient local supply chains. Concluding, he emphasised

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57
 REPORT

the importance of prioritising 'conscience over profit' to conservation, his organisation is now water positive,
achieve genuine Sustainability. having created a 170 million-litre rainwater reservoir, 45
recharge pits, a sump, and a reuse tank. He highlighted
The session had the following distinguished speakers:
the BEL campus ecological balance, with 46 trees per
1. Ms. Thulasi Maddineni, IAS employee and 65% green cover. His organisation's Net
Secretary Zero vision includes robust GHG monitoring, energy
Department of Personnel and Administrative efficiency measures, and Renewable Energy 10 (RE 10)
Reforms (AR) initiatives. Plans also involve developing green data
Govt. of Karnataka centres to reduce energy use and emissions.
Comprehensive efforts are underway to cut Scope 1, 2,
2. Mr. R. Ravishankar, IFS and 3 emissions, along with carbon offsetting and
Chief Conservator of Forests removal, ensuring a holistic approach to minimising
Karnataka environmental impact across the value chain.
3. Mr. Sanjay Agarwal This was followed by an interactive Q&A Session with the
General Manager Corporate Services audience.
Bharat Electronics, BEL, Ministry of Defence, India

Ms. Maddineni recalled the Volkswagen emissions PLENARY SESSION - X

scandal as a reminder of the consequences of ignoring
SUCCESS STORIES ON: EFFECTIVE IMPLEMENTATION
environmental responsibility and highlighted student
OF 'ENERGY EFFICIENCY '
protests at Harvard against fossil fuel investments. She
stressed that while humanity may survive, quality of life is CASE STUDY PRESENTATIONS
at risk without urgent action. She noted SEBI's
The 'Special Address' was delivered by:
Sustainability Reporting mandates as key to corporate
transparency and addressing negative externalities, Mr. R. G. Rajan
where disposal costs exceed procurement. Balancing Honorary Zonal Director
supplier and consumer emissions requires a systemic Institute of Directors, India
approach. She observed that more citizens are willing to Former CMD, RCF/NFL/PDIL
pay for Sustainability when outcomes are fair and Former Chairman, FAI/SCOPE
transparent. She concluded that innovation and Mr. Rajan highlighted eco-innovation in fertilizers as vital
committed corporate leadership are essential for driving for sustainable agriculture and environmental protection.
meaningful Climate Action. He reported progress in
Mr. Ravishankar reported that Karnataka's coastline is efficient fertilizers like slow-
increasingly vulnerable to climate change, facing threats release, controlled-release,
like rising sea levels, coastal erosion, loss of mangroves and stabilized variants that
and biodiversity, marine litter, and saltwater intrusion into delay nutrient conversion
aquifers, posing serious ecological and socio-economic processes. He also
risks. He emphasised the high carbon sequestration emphasized bio-based
capacity of mangrove forests and the need for ESG and organic fertilizers such
transparency, net zero commitment, and plastic neutrality. as compost, manure, and
He highlighted the social enterprise, which mobilised seaweed-based products,
coastal fishing communities to recover ocean plastic, nets, along with advances in
and discarded gear—supporting both marine microbial and nano-
conservation and livelihoods. He concluded that climate fertilizers for targeted
interventions must be tailored to the unique ecological, nutrient delivery. A key
social, and economic realities of each coastal region. development that he
shared was Green Mr. R. G. Rajan
Mr. Agarwal shared that his organisation is actively Ammonia, produced with Honorary Zonal Director
pursuing its Mission “Net Zero” with a defined roadmap zero CO₂ emissions, which Institute of Directors
Former CMD, RCF/NFL/PDIL
and measurable targets, beginning its journey in 2006 could revolutionize urea Former Chairman, FAI/SCOPE
with wind energy. By the end of the year, it aims to production. He stressed Delivering the 'Special Address' as
Session Chair & proposing the
operate entirely on 100% renewable energy. On water the role of a circular 'Vote of Thanks'

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 REPORT

economy in recovering nutrients like NPK from waste IOD is especially grateful to its Event Partners:
streams. Finally, he underlined the integration of digital
Our Gold Partners:
technologies—IoT, AI, and drones—to optimize fertilizer
use, reduce overuse, increase productivity, and lower 1. Bisleri International Private Limited.
agricultural carbon emissions. 2. AAF International
Case studies in the 'Energy Efficiency' category were
3. Bangalore Water Supply and Sewerage Board
shared by the below-mentioned companies:
4. Jindal Steel and Power Limited
1. Tata Motors Limited, Jamshedpur
5. Afcons Infrastructure Limited
2. Prism Johnson Limited
Our Silver Partners:
3. Grasim Industries Limited
1. REC Limited
4. L&T Heavy Engineering
2. Systra Group
5. Hindalco Industries Limited
Our Bronze Partners:
6. JSW Steel Limited, Dolvi
1. Central Warehousing Corporation
Each presentation was followed by an interactive Q&A
Session with the audience. 2. NLC India Limited
CONCLUSION 3. Karnataka Soaps and Detergents Limited
The 26th International Conference on Environmental 4. Switch Mobility
Management and Climate Change, 2025 underscored
5. The Singareni Collieries Company Limited
that addressing climate change is an urgent global
responsibility transcending sectors, geographies, and 6. Bharat Electronics Limited
hierarchies. Through insightful Plenary Sessions, case 7. Karnataka Rural Infrastructure Development Limited
studies, and success stories, the Conference had
reinforced the need for collaborative leadership and 8. MECON Limited
innovation-driven, inclusive solutions. 9. Karnataka State Minerals Corporation Limited
A strong consensus had emerged: Sustainability and 10. ArcelorMittal Nippon Steel India Limited
climate resilience must extend beyond policy into
boardrooms, industries, academia, and communities. Our Associate Partners:
Discussions highlighted transitions underway in sectors 1. TATA Motors Limited
like steel, construction, transport, and agriculture, enabled
by 'green hydrogen', renewable energy, smart 2. Gemini Equipment and Rentals Private Limited
infrastructure, and 'circular economy' models. 3. Steel Authority of India Limited
Despite challenges such as the economic viability of 4. Mysore Sales International Ltd.
clean technologies and regulatory checks, the event
Our Supporting Partner:
showcased actionable solutions through collaboration,
capacity building, and grassroots engagement. 1. World Environment Foundation
Community efforts and corporate leadership were
recognized as vital contributors to sustainable
development. This report is compiled by:
The Golden Peacock Awards has honored exemplary Mr. Ashok Kapur, IAS (Retd.)
organizations and individuals advancing environmental Director General
stewardship through innovation and commitment. The Institute of Directors, India
Conference concluded by reaffirming that bold
&
leadership, shared responsibility, and public-private
cooperation are key to securing a sustainable, low-carbon CS Sana Rehman
future, with India poised to play a defining role amongst Executive Editor – Director Today
the nations. Institute of Directors, India

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59
 26th International Conference on
Environment Management and
Climate Change 2025

Summary of
Recommendations
1. Environmental, technological, economic and political 7. Boards must be prepared to deal with multiple
changes are interrelated and exacerbating tensions, uncertainties, contemporary insecurities, approaching
fueling violence and leading to conflicts in many parts tipping points and fundamental shifts that are
of the interconnected world. Board will have to occurring. Directors with qualities and capabilities to
engage with stakeholders to refocus the corporate lead corporates to address existential environmental
and collective action upon climate change and threats should be a part of the board.
sustainability.
8. Green finance, green innovation, green growth, and
2. Many of the impacts of natural disasters that may environmental taxes have been found to curb CO2
occur because of climate change caused by collective emissions in 25 environmentally friendly countries, but
human activity are also made worse by inadequate internet users increase them. As more activities are
prevention and litigation measures, and a failure to undertaken online, and the adoption of AI increases,
think ahead. Awareness should be created of CO2 emissions are likely to further increase.
evidence of negative externalities, such as global 9. Policies for climate change and environmental issues
warming, climate change. Damage to the environment are government-driven and not corporate–led. As the
should be quantified and appropriately included in economy is moving at a faster pace, minimalist use of
decision making at the board level. natural materials is desirable. Corporates can give
3. Boards must consider how stakeholder environmental cost-effective alternatives. Corporates should be
awareness might be best increased, and more people effectively involved in policy making.
and organisations encouraged to embrace rather than 10. Transport sector is a major contributor to fossil fuel
avoid responsibilities for collective future. emissions. There is an urgent need to switch over to
green vehicles and relevant technologies. This shift
4. Environmental management and climate change
has to be supported by the government and private
awareness should be included in education.
sector in a public-private partnership mode.
Awareness campaigns, campus greening and
adopting a cross-disciplinary approach across 11. Finance and sustainability work in tandem. That means
academic fields should be promoted. Universities the capital allocation should be made for achieving
should enhance data collection and analysis and the SDGs. Climate Risk Assessment should form a part
monitor environmental performance and reduce of enterprise risk management. Capacity building for
ecological footprints. risk mapping should be created to promote risk-based
approaches.
5. Transition planning may seem problematic, without a
motivating imperative and convincing justification for 12. Boards must ensure opportunities to tackle negative
a change, and shared understanding of both the externalities and advance SDGs are taken across
realities of what is being transitioned from and a clear organisations; and provide appropriate incentives to
and common vision of an alternative that is being undertake production and other activities in
transitioned to. Policies need to identify technology environmentally responsible ways all across supply
and process changes appropriately in terms of cost and value chains.
and time. Benefits of transition should exceed its cost. 13. India aims to attain net zero emissions by 2070, and is
ahead in meeting its 2030 target of a 50% reduction in
6. Certain tipping points have already been crossed and
emissions. Corporate sector needs to be more active
the changes are irreversible. Melting of large sheets of
so that India attains its Net Zero target ahead of 2070.
ice, such as Greenland, is irreversible. Strategy of
resilience should aim at dealing with environmental 14. Corporate reporting standards promote transparent
and other challenges, mainly the human behaviors disclosures on environmental parameters and address
and traditional way of working. negative externalities, where disposal cost exceeds
procurement cost.
 WINNERS

Golden Peacock Awards

A Brief Overview and Accomplishments

T h e Aw a rd i s b e i n g p re s e nt e d by M r. H . D. Golden Peacock Awards Presentation

Kumaraswamy, Hon'ble Union Cabinet Minister of
Heavy Industries and Steel, Govt. of India. Also seen in WINNERS OF 2025
the picture (L to R), Mr. Manoj K. Raut, Secretary General Honouring Excellence in
& CEO, Institute of Directors, Mr. Ashok Kapur, IAS
(Retd.), Director General, Institute of Directors and
Manufacturing and Service Sectors
Mr. Desh Deepak Verma, IAS (Retd.), Principal Advisor, during
Institute of Directors and Former Secretary General, 26th International Conference on
Rajya Sabha. Environment Management and Climate Change 2025

GOLDEN PEACOCK OCCUPATIONAL HEALTH AND SAFETY AWARD

(GPOHSA)

Tagros Chemicals India Private Limited, Dahej

Sector – Agrochemical
Tagros Chemicals India Private Limited, Dahej specializes in manufacturing
agrochemicals. Integration of the OH&S Management System into governance model
is a strategic imperative, rooted in commitment to operational excellence, employee
well-being, and sustainable growth. OH&S Policy is communicated across all levels and
is translated into measurable objectives at each department. AI driven Risk Assessment
tool for Quantitative Risk Assessment is used for different Critical Storages and
Processes. For manual activities HAZARD classification is done through HIRA – Hazard
Identification and Risk Assessment methodology. For hazard associated with process
Ms. Lekshmi Ratheesan, Industrial Hygienist
and operations, assessments are done with PHA – Process hazards assessment
receiving the Award (HAZOP & What If) tools. Plant had total 1601 accident free days.

Coromandel International Limited, Dahej

Sector – Agrochemical
Coromandel International Limited, Dahej is in Crop Protection Chemicals (CPC)
business that produces insecticides, fungicides, herbicides and plant growth
regulators. OH&S Policy is available at site and displayed at prominent places. Pre-
qualification for selection of business partner considers OH&S policy through due
diligence. AI based video analytics for various safety measures, and AI based group
training system are carried out. Activity hazard classification is done by using various
Process Hazard Analysis (PHA) tools that enable ascertain the risk level. 100% of
employees are trained on health and safety measures. Emergency siren system
available at site which is easily audible in company premises, Fire alarm system is also
Mr. Jaydeep Mondal, Unit Head
receiving the Award installed in company premises along with manual call points. Behaviour Based Safety
program is adopted to help strengthen the culture of safety in the organization.

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 WINNERS

GOLDEN PEACOCK OCCUPATIONAL HEALTH AND SAFETY AWARD

(GPOHSA)

Tata Motors Limited, Mumbai

Sector – Automobile
Tata Motors Limited, Mumbai is a leading global automobile manufacturing company.
Its diverse portfolio includes an extensive range of cars, sports utility vehicles, trucks,
buses and defence vehicles. A robust Occupational Health & Safety Management
System (OHSMS) aligned with ISO 45001:2018 (with commitment to a zero-harm culture)
is reinforced through proactive risk management, digital safety interventions, and
leadership driven governance. Company utilizes Hazard Identification and Risk
Assessment (HIRA) Standard to proactively identify hazards before incidents occur. AI
algorithms analyse CCTV footage to ensure workers wear mandatory PPE in
Mr. Deepak Kumar, Senior General Manager & Plant Head
designated areas, promoting compliance and preventing injuries. By fostering a culture
receiving the Award of innovation and encouraging active participation from all levels of the workforce,
company is continuously working to create a safer and healthier work environment for
all employees.

Shanthi Gears Limited, Foundry Division, Coimbatore

Sector – Automobile Ancillary
Shanthi Gears Limited, Foundry Division, Coimbatore, a subsidiary of Tube Investments
of India (Murugappa Group), is a leading gear and gearbox manufacturer. Company has
implemented a structured and integrated HSE Management System Governance Model
(HSEMS) aligned with Safety Excellence Model (SEM) that ensures Environmental, Health,
and Safety (HSE) responsibilities are shared across key functions and departments,
promoting a culture of collective accountability and ownership. Company has a well-
established Occupational Health and Safety (OH&S) Policy, which reflects unwavering
commitment to protect the health and safety of all employees, contractors, visitors, and
the community. AI-enabled 360° camera vision system installed on forklifts to detect
Mr. Sultan Ibrahim A., Business Unit Head
receiving the Award human presence in real time and alerts operators instantly. A detailed hazard
classification of all operational and support activities has been carried out as part of
structured Hazard Identification and Risk Assessment (HIRA) system.

Udaipur Cement Works Limited, Udaipur

Sector – Cement
Udaipur Cement Works Limited, Udaipur is a subsidiary of JK Lakshmi Cement Limited. It
manufactures world class cement under the brand name- Platinum Heavy Duty Cement.
Occupational Health & Safety Management System has been implemented in entire
plant. Company has Safety Committee with equal numbers of representatives of Trade
Union and Management. AI System have been introduced in Training Need Assessment,
IOT for real time data for Fire Hydrant System, Sensors to detect Flame / Smoke.
Company has Kaizen & Suggestion Scheme in place for innovative, cost saving, Safety
improvement related ideas and suggestions. Hazard identification and risk assessment
have standard format in SAP containing the information about the activity, nature of job
Mr. Naveen Kumar Sharma, Whole-time Director
receiving the Award and hazard associated with the activity. 100% staff including workman are trained in on-
site emergency plan & Incident reporting. Plant observed 730 accident-free days.

Himadri Speciality Chemical Limited, Kolkata

Sector – Chemical
Himadri Speciality Chemical Limited, Kolkata, manufactures carbon black and
chemicals like coal tar pitch, naphthalene, and battery materials. OH&S management is
integrated into corporate governance through strategic oversight, accountability, and
alignment with ESG goals. AI-driven systems are used for driver safety, forklift
operations, safety audits, AR-based training, and PPE deviation detection. Work
hazards are classified via engineering and job risk assessments. Human risk
assessment considers attention failures (slips), memory lapses, judgment errors, and
deliberate violations. Key OH&S features include zero lost time injury and zero
occupational illness in FY 2024–25. A digital safety observation system and Behavioural-
Mr. Soumyodeep Bhattacharya,
Executive Vice President – CTD receiving the Award Based Safety (BBS) approach further strengthen workplace safety and culture, ensuring
proactive risk mitigation and continuous improvement.

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 WINNERS

GOLDEN PEACOCK OCCUPATIONAL HEALTH AND SAFETY AWARD

(GPOHSA)

Afcons Infrastructure Limited, Mumbai Ahmedabad High Speed Rail C-02 Package
(Bullet Train), Navi Mumbai
Sector – Construction
Afcons Infrastructure Limited, Mumbai Ahmedabad High Speed Rail C-02 Package
(Bullet Train), Navi Mumbai is a project of Afcons Limited. Company has addressed and
integrated ISO 45001:2018 OH&S management system in governance model. AI
algorithms analyse real-time data from sensors (VMT, GPS, geological sensors) on the
TBM to provide precise navigation, adjusting the machine's course and depth
autonomously to follow the planned tunnel alignment to enhance accuracy and
reduces the risk of deviations. Job Safety Analysis (JSA) / Job Hazard Analysis (JHA) of
Mr. Sudhir Balakrishna More, General Manager & HOD - HSE
each job is carried out to identify potential hazards at each stage. To minimize the
receiving the award impact of fire in underground (under sea) tunnel the construction work includes a
comprehensive strategy encompassing prevention, detection, suppression, and
emergency response. Company has observed 660 days of accident-free operation.

TKIL Industries Private Limited, Pune

Sector – Engineering
TKIL Industries Private Limited, Pune is a premier Engineering and EPC organization
delivering turnkey solutions across sugar, cement, energy, and material handling
sectors. Occupational Safety, Health and Environment (OSHE) Management System is
aligned with the Safety Framework and the ISO 45001:2018 standard and fully
integrated into Integrated Management System (IMS). AI-based CCTV surveillance
systems embedded with computer vision algorithms have been deployed at key
locations, designed to automatically monitor real-time compliance with mandatory
PPE requirements. Actively encourage and foster a culture of creativity and problem-
solving across all levels of employees and contractual staff. Hazards are identified using
Mr. Abhay Ghirnikar, Director - Manufacturing Business
receiving the Award structured tools HIRA (Hazard Identification and Risk Assessment), LMRA (Last Minute
Risk Assessment), and JSA (Job Safety Analysis). A structured Behaviour-Based Safety
(BBS) program has been rolled out to systematically identify unsafe behaviours,
promote safe work practices, and embed safety into everyday tasks.

GAIL (India) Limited, Hazira Compressor Station, Surat

Sector – Gas
GAIL (India) Limited, Hazira Compressor Station, Surat is a part of GAIL a Maharatna
company. The Compressor Station at Hazira is the Gateway of HVJ pipeline system.
HSE management system document has been prepared in-line with OISD GDN – 206
“Safety Management System in Petroleum Industry” for managing safety and covers all
aspects of plant and facilities to control loss to personnel, equipment, material and
environment. Health, Safety and Environment requirements are duly integrated in
General Conditions of Contract or Special Conditions of Contract which clearly spells
the requirements are binding on the of part of contractors or suppliers. Safety
performance for various HSE elements is being monitored on monthly and quarterly
Mr. Nitin P Nandkar, Deputy General Manager - F&S
receiving the Award basis. 731 accident free days observed from 01.04.2023 upto 31.03.2025. Behavioural
Based Safety (BBS) observations are reported in SAP system.

Avery Dennison India Private Limited, Bengaluru

Sector – Labelling & Packaging
Avery Dennison India Private Limited, Bengaluru is a leading solution provider of
labelling and packaging materials for various global garment and apparel brands. Plant
Site has a well-defined EHS Policy. The plant safety system uses automated voice,
visuals, and interactive AI avatars to deliver critical safety instructions, site rules,
emergency procedures, and PPE requirements in an engaging, easy-to-understand
format. Company encourages employee engagement, ownership, and innovation
through multiple structured initiatives aimed at making safety a way of life rather than a
compliance requirement. A structured Hazard Identification and Risk Assessment
(HIRA) is followed to proactively recognize risks, assess their severity, and implement
Mr. Muthu Subramanian Ganesan, General Manager
receiving the Award appropriate controls. 508 accident-free days have been observed.

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 WINNERS

GOLDEN PEACOCK OCCUPATIONAL HEALTH AND SAFETY AWARD

(GPOHSA)

Larsen & Toubro Limited, L&T Energy Hydrocarbon, Modular Fabrication Facility,
Kattupalli
Sector – Oil & Gas Fabrication
Larsen & Toubro Limited, L&T Energy Hydrocarbon, Modular Fabrication Facility,
Kattupalli is a part of L&T Group, a technology, engineering, construction, projects,
manufacturing and financial services conglomerate. Health, Safety and Environment
Management System (HSEMS) has helped to translate company's HSE policy into
practice. Annual HSE Program is in place in order to implement the policy and to
achieve continual improvement. Following HSE Campaigns were conducted - Heat
Stress Awareness Campaign and Observation and Near miss reporting Awareness
Mr. Ajitesh Mishra, Corporate HSE Head
campaign. Company has a site specific “Procedure for Hazard Identification and Risk
receiving the Award Assessment and Environmental Aspect Impact Identification” for identifying the site's
health, safety and environmental hazards. Significant HSE aspects are being monitored
and evaluated periodically. No Reportable Accident occurred during year 2024.

Castrol India Limited, Silvassa

Sector – Oil Lubricant
Castrol India Limited, Silvassa is part of the BP group and serves customers and
consumers in automotive, marine, industrial and energy sectors. Lubricants Operating
Management System (OMS) is the way company does business and achieve
sustainable, safe, systematic, and reliable operations. Factory has adopted a Health,
Safety, Security & Environment policy which is periodically reviewed by the
management. Plant follows the task-based risk assessment methodology which is
Hazard Identification and task- based risk assessment (HITRA). Any new process or
equipment is subject to 'management of change' procedure which sets a systematic
and consistent approach for managing changes that impact plant, process, or people;
Mr. Varun Khanduja, Senior Manager - HSE&C
receiving the Award whether permanent, temporary, or emergency. Howsoever minor, incidents are
reported and investigated to adopt lessons learnt. Over the past five years, the incident
rate has decreased by 40%, demonstrating the effectiveness of safety protocols.

Hindustan Petroleum Corporation Limited, Visakh-Vijayawada-Secunderabad-

Dharmapuri Pipeline, Visakhapatnam
Sector – Oil Pipeline
Hindustan Petroleum Corporation Limited, Visakh-Vijayawada-Secunderabad-
Dharmapuri Pipeline, Visakhapatnam is a 1272 km, cross country multi-product
pipeline. Company's HSE management system helps to manage process safety,
personal safety, and environmental risks, as well as drive performance improvements.
Company has established and maintained common policy for Quality, Environment
and Occupational Health & Safety Management System (QEHS). Company has
implemented AI-based Video Analytics solutions across all locations to ensure safety
measures and ensure adherence to standard operating practices, thereby fortifying its
Mr. Gangavarapu Ankaiah, Deputy General Manager
receiving the Award commitment to safety and operational excellence. Company has developed a detailed
competency mapping based Functional Training Calendar to enable enhanced
competency building for employees. Company has implemented technologies that
enhance transport safety and ensure comprehensive training for all personnel.

Seros Energy Private Limited, Navi Mumbai

Sector – Oil Production
Seros Energy Private Limited, Navi Mumbai is the owner and operator of one of India's
largest drilling rig fleet, empowering oil and gas discovery and production
enhancement. Company has embedded OH&S at every level of governance
framework: from the Corporate Policy through Generic Procedures, down to Site-
Specific Instructions and Forms, mirroring overall Management System hierarchy and
ensuring that HSEQ considerations are “baked-in” to every strategic and operational
decision. Company ensures all supplier and contractor agreements explicitly require
compliance with OH&S Policy. All new equipment, operating procedures or facility
modifications follow eight-step Management of Change (MOC) process, which
Mr. Amit Katiyar, Head - HSE
receiving the Award includes risk evaluation, stakeholder review, training and post-implementation
verification. Field personnel are trained to conduct peer-to-peer safety observations,
fostering accountability and continuous learning on-site.

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 WINNERS

GOLDEN PEACOCK OCCUPATIONAL HEALTH AND SAFETY AWARD

(GPOHSA)

Bharat Petroleum Corporation Limited, Kochi Refinery, Ernakulam

Sector – Oil Refining
Bharat Petroleum Corporation Limited, Kochi Refinery, Ernakulam is manufacturing
Unit of Bharat Petroleum Corporation Limited. Products include Liquefied Petroleum
Gas, Naphtha, Motor Spirit, Kerosene, Aviation Turbine Fuel, High Speed Diesel and
Asphalt. Integration of OH&S into overall governance is done through various elements
of OH&S Management system like Safety Trainings, Refinery Operating Systems (ROS),
HAZOP and Risk Analysis, Work Permit System and Job safety Plan etc. Drones with AI
detection technology was used to provide real-time surveillance of equipment and
infrastructure while ensuring safety of on-site personnel. Process Hazard Analysis
Ms. Jaitly Shraddha S., Chief General Manager - Finance
(PHAs) are used to pinpoint weaknesses in the design and operation of facilities.
receiving the Award Competency and training matrix is developed for all employees. 100% employees
trained on fire safety. No LTA in last 2 years.

IndianOil Petronas Private Limited, LPG Import/Export Terminal, Haldia

Sector – Oil Terminal
IndianOil Petronas Private Limited (IPPL), LPG Import/Export Terminal, Haldia is a
leading marketer of Propane, Butane, and LPG in India. Company is integrating
Occupational Health and Safety (OH&S) Management Systems into overall governance
framework for ensuring operational safety and regulatory compliance. Unit is
dedicated to zero accidents, injuries, and environmental harm by fostering a proactive
safety culture, ensuring strict regulatory compliance, and continuously improving
safety performance in LPG storage, handling, and transfer operations. Tech-enabled
program empowers all IPPL members to contribute ideas seamlessly while
strengthening health and safety standards. A thorough hazard classification has been
Mr. Sanjeev Dutta, Chief Manager -Terminal
receiving the Award performed for all work activities. Terminal conducts task-based risk assessments for
each role. Terminal has accident free period of 10 years.

Grasim Industries Limited, Birla Opus Paints Division, Cheyyar Unit, Tiruvannamalai
Sector – Paints
Grasim Industries Limited, Birla Opus Paints Division, Cheyyar Unit, Tiruvannamalai is a
major players in the fast-growing decorative paints industry. Technical Safety
Management is in place to establish, enhance and align existing business management
processes and system to achieve the goal of “Zero harm” along with the business goals
of zero defects. Company provides strategic direction to the management efforts
through consistent and auditable safety management system implementation.
'Enablon' Reporting Software now incorporates an advanced Risk AI algorithm,
meticulously trained on a comprehensive dataset of over 17,000 real incidents,
including near misses from industry operations. 100% of employees and contract
Mr. K. Sankar, Assistant General Manager
receiving the Award workmen have been trained on health and safety topics. National Building Code 2016 is
followed for designing the safety system. 1032 accident-free days.

Mankind Pharma Limited, Unit-I, Paonta Sahib

Sector – Pharmaceutical
Mankind Pharma Limited, Unit-I, Paonta Sahib (HP) is an Indian pharmaceutical and
healthcare products company having products in therapeutic areas ranging from
antibiotics, to gastrointestinal cardiovascular, dermal, and erectile dysfunction
medications. Company has incorporated policies, procedures, and practices that
prioritize the health and safety of employees within the organization. Company
communicates OH&S Policy to supply chain partners, ensuring they understand the
expectations and requirements. By identifying and classifying hazards, unit effectively
assesses risks and implements control measures to ensure safety and well-being of
employees. Company has developed a standardized process for hazard identification
Mr. Subhash Baidya, Plant Head & Vice President - Operations
receiving the Award and risk assessment that can be applied to all new processes and equipment under
Change Control Process / Management of Change & HIRA. 4318 reportable accident-
free days.

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 WINNERS

GOLDEN PEACOCK OCCUPATIONAL HEALTH AND SAFETY AWARD

(GPOHSA)

NTPC Limited, Muzaffarpur Thermal Power Station, Kanti

Sector – Power (Generation)
NTPC Limited, Muzaffarpur Thermal Power Station, Kanti is coal based thermal power
generation plant with total capacity of 390 MW. Safety Framework (SFW) is envisaged
to provide a consistent conceptual structure and serve as the guidance document to
the various functions and roles aligned with the overall Policy and objectives of
company. Plant has its own OHS Policy in line with NTPC Safety Policy and Health and
Wellness Policy. Annual Safety Plan is available with objectives and targets well defined
and linked with KPA of individual employees. Individual departments do the hazard
classification based on work activities and develop HIRA document. Plant has
Mr. S. Madhu, Chief General Manager
implemented procedures to monitor and measure Occupational Health & Safety
receiving the Award performance on a regular basis. Last two years were accident free.

Nuclear Power Corporation of India Limited, Rajasthan Atomic Power Station 3 & 4,
Rawatbhata
Sector – Power (Generation)
Nuclear Power Corporation of India Limited, Rajasthan Atomic Power Station 3 & 4,
Rawatbhata have two units of 220 MW Pressurized Heavy Water Reactors (PHWR).
Company is having a well-structured “OH&S Policy”, formulates a clearly defined
Annual Plan, which includes measurable objectives and actionable targets based on
the policy. Various initiatives have been taken to ensure that every employee should be
involved to encourage innovations and suggestion schemes for building and
maintaining health & safety culture at work place. All routine jobs of hazardous nature
and Non routine jobs in station are identified. 100% employees and contract workmen
Mr. Dasari Subba Rao, Station Director
(Outstanding Scientist) receiving the Award are trained on health and safety measures annually. Total accident free days till
25.04.2025 are 2485. A program was initiated at station to correct any behavioural based
safety non-compliance by ROKO-TOKO method.

Shapoorji Pallonji and Company Private Limited, Hyderabad Ground-up (Google),

Hyderabad
Sector – Real Estate & Construction
Shapoorji Pallonji and Company Private Limited, Hyderabad, is executing the Google
Connect Services Private Limited, office project. OH&S management is integrated
through a “safety first” culture and top-down approach. All project managers receive
construction safety training from reputed organizations. The company fosters
innovation, suggestion schemes, and a strong safety culture. The ROMESH (Respect,
Own, Manage, Environment, and Safety & Health) scheme promotes staff involvement
in safety. The ESWER (Either Safe Work Else Refuse) scheme empowers workers to
refuse unsafe tasks. Behavioural safety is actively promoted. The qualitative and
Mr. Vivek Kumar, Deputy General Manager - Projects
(Project Manager) receiving the Award quantitative impact of OH&S management on company performance is regularly
assessed, ensuring continuous improvement, enhanced safety standards, and
strengthened workplace accountability across all project phases.

ArcelorMittal Nippon Steel India Private Limited, Steel Service Centres, Mumbai
Sector – Steel
ArcelorMittal Nippon Steel India Private Limited, Steel Service Centres, Mumbai is a
joint venture between ArcelorMittal and Nippon Steel. Company's main products are
Hot Rolled /Hot Rolled Pickled & Oiled /Cold Rolled /Galvanised Steel Slit Coils and
Blanks. Company has AI-based CCTV surveillance system in plant premises, monitoring
entire shop floor activities. A dedicated “Business Excellence Portal” is accessible to all
employees and associates (Contract workers) to record suggestions and innovations.
Hazard classification has been done for Ergonomic hazards, Environmental hazards
and Chemical hazards etc. Plant has defined operational control procedure to asses
significant aspect impacts and OH&S hazards and risks. Company covers 100% of
Mr. Arun Pathak, Head – Operations, Steel Service Centres
receiving the Award employees and contract workers in various safety trainings conducted throughout the
year. Training sessions on “Behavioural Based Safety” are conducted.

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 WINNERS

GOLDEN PEACOCK OCCUPATIONAL HEALTH AND SAFETY AWARD

(GPOHSA)

HCL Technologies Limited, Chennai

Sector – IT
HCL Technologies Limited, Chennai is structured as three business segments—IT and
Business Services (ITBS), Engineering and R&D Services (ERS) and Products and
Platforms (HCLTECH Software). Company has established an OH&S policy that aligns
with its overall governance principles, reflecting the organization's commitment to
providing a safe and healthy work environment for all employees. OHS related
objectives and targets of FY24-25 are focused on workplace incidents/illnesses (zero
incident), nutrition and well-being. Campus has equipped with various auto-sensing
and AI features. 100% employees, contract workers are trained on safety aspects.
Following Significant aspects are monitored: Incident reporting; Near miss reporting;
Unsafe act /unsafe condition; and Employee interaction. Company has maintained a
zero-accident record for the last two consecutive financial years.

GOLDEN PEACOCK ENVIRONMENT MANAGEMENT AWARD

(GPEMA)

TVS Motor Company Limited, Hosur

Sector – Automobile
TVS Motor Company Limited, Hosur is part of TVS Group and is a two and three-
wheeler manufacturer. Environment, Health and Safety (EHS) Policy reflects
commitment to sustainability and climate change. Plant achieved renewable power
contribution of 93% in overall share of power and 58,000+ tCO2e emissions reduction.
Company has adopted a robust framework aligned to the Intergovernmental Panel on
Climate Change (IPCC) and the GHG Protocol to map its emissions. Plant operates in
100% compliance with the Hazardous and Other Wastes (Management and
Transboundary Movement) Rules, 2016 and Bio-medical Waste Management Rule 2016.
Mr. K. N. Radhakrishnan, Director and Environmental monitoring include: Compliance with Legal and Regulatory
Chief Executive Officer receiving the Award
Requirements, Emission & Effluent Monitoring, Resource conservation, Waste & Waste
Management, Energy and GHG Monitoring, Biodiversity and Ecosystem Monitoring.
Achieved over 10% reduction in specific water consumption across all manufacturing
plants in 2024-25.

Honda Motorcycle & Scooter India Private Limited, Tapukara Factory, Alwar
Sector – Automobile
Honda Motorcycle & Scooter India Private Limited, Tapukara Factory, Alwar, a wholly
owned subsidiary of Honda Motor Co. Ltd., manufactures two-wheelers. The company
follows GHG Protocol standards, reporting Scope 1, 2, and 3 emissions to Honda Motors
Japan for sustainability reporting. It targets carbon neutrality across products and
operations by 2050, focusing on EVs, hybrids, and renewable energy. The Gurukul
portal provides annual environment and legal training to top management.
Environmental monitoring focuses on CO2 emissions, water consumption, and waste
generation. The factory follows a zero liquid discharge policy. Over three years,
Mr. Kohei Kishigami, Executive Vice President and electrical energy consumption was reduced from 46.39 to 35.99 kWh/vehicle (~22.5%),
Mr. Pankaj Tandon, Operating Officer receiving the Award
reflecting significant energy efficiency improvements and strong environmental
commitment.

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 WINNERS

GOLDEN PEACOCK ENVIRONMENT MANAGEMENT AWARD

(GPEMA)

Kirloskar Brothers Limited, Pune

Sector – Engineering
Kirloskar Brothers Limited, Pune exemplifies engineering excellence with first-in-class
fluid management solutions, leveraging cutting-edge technology and energy-efficient
products. Company is developing Integrated Annual Report with reference to Global
Reporting Initiative (GRI), United Nations Sustainable Development Goals (UNSDGs),
Business Responsibility and Sustainability Report (BRSR). Company has undergone
voluntarily Independent third party “BRSR Core” assurance in FY 2024-25. Company
aspires to become Operational Net Zero by 2040 and Net Zero by 2047. As part of the
organization's commitment to sustainable development and environmental
Mr. Abhijeet Shinde, Assistant General Manager & stewardship, top management is regularly trained and appraised on environmental
Head-Corporate Sustainability and Excellence appreciation and sustainability best practices. 70% of electricity consumption is catered
receiving the Award through renewable energy sources (solar and wind power).

Lupin Limited, Mandideep, Raisen

Sector – Pharmaceutical
Lupin Limited, a global pharmaceutical leader, manufactures antibiotics and
cardiovascular drugs at its Mandideep, Raisen facility. Sustainability disclosures are
made annually through its Integrated Report and BRSR. The company conducts
materiality assessments to align with stakeholder expectations on environmental and
societal impacts. It promotes green office practices like energy conservation, waste
reduction, and recycling. Top management receives training on environmental
sustainability. In FY 2023–24, GHG emissions were reduced by 9.14%, wastewater
generation dropped by 4.92% (KL/day), and renewable energy use rose to 33.8%,
resulting in a 21% reduction in carbon emissions—demonstrating Lupin's strong
Mr. Dhananjay Joshi, Corporate Head
receiving the Award commitment to sustainability.

Avaada Energy Private Limited, Unit: Avaada Sunce Energy Private Limited, Bikaner
Sector – Power (Renewable)
Avaada Energy Private Limited, Unit: Avaada Sunce Energy Private Limited, Bikaner,
part of Avaada Group, operates in solar, green hydrogen, ammonia, SAF, and methanol.
ESG is integrated into board governance with oversight from an ESG Advisory
Committee. The Sustainability Report aligns with GRI 2021, BRSR, IFRS S2, and TCFD.
GHG Protocol (Scope 1, 2, 3) is followed with third-party assurance. ESG risks are
managed via digital tools, scenario modelling, and geo-tagging. Digitized Compliance is
monitored through EY's Compliance Manager Tool. The company delivered 4,935 EHS-
related training sessions with leadership participation. Water savings of 93% achieved
through robotic dry cleaning and RWH. Biodiversity is integrated via Miyawaki forest
Mr. Harishankar Soni, Group Head – EHS & Sustainability
receiving the Award projects. AI/ML enable ESG dashboards, SCADA control, forecasting, and energy
optimization. IMS embeds real-time monitoring and emergency preparedness.

National Aluminium Company Limited, Panchpatmali Bauxite Mine, Koraput

Sector – Mining and Metallurgy
National Aluminium Company Limited, Panchpatmali Bauxite Mine, Koraput (Odisha) is
the largest bauxite mine in Asia. Sustainability Report is published by the company on
yearly basis as per GRI - 4 format. Fixed automatic sprinklers of 3.8 km length was
established in the South Block and Central Block to suppress dust generated from haul
roads. Blasting has been substantially reduced to only 2% of total excavation in 2023-24
towards endeavour to a blast-free mine. Panchpatmali Bauxite is zero discharge mine
and no waste water is discharged to water bodies. 1,20,389 nos of trees were planted by
the company in and around Mines against the target of 1,10,000 nos. of trees. Also,
around 5,500 nos. of fruit bearing seedlings were distributed to local villagers to
improve awareness. The overburden material is 100% reused for backfilling of mined
out area.

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WINNERS

GOLDEN PEACOCK AWARD FOR ENERGY EFFICIENCY

(GPAEE)

Tata Motors Limited, Jamshedpur

Sector – Automobile
Tata Motors Limited, Jamshedpur was established in 1954, producing automobile. By
fostering innovation, recognizing contributions, and maintaining open communication,
plant ensures continuous engagement in its energy-saving initiatives. Company has a
robust Energy Policy focused on sustainable growth through efficient energy use.
Regular performance audits are conducted to identify inefficiencies, assess
equipment performance, and ensure compliance with energy standards. Energy
performance is continuously monitored through advanced systems like SCADA and
energy meters. Real-time data collection enables precise analysis of consumption
Mr. Sunil Tiwari, Plant Head
patterns and helps in quickly identifying deviations. Performance indicators are tracked
receiving the Award against set targets to ensure optimal energy usage and guide strategic planning for
continuous improvement in energy efficiency. Plant has achieved measurable success
in energy conservation, with consistent reductions in specific energy consumption year
over year.

Prism Johnson Limited, Cement Division, Satna

Sector – Cement
Prism Johnson Limited, Cement Division, Satna, is a leading Indian cement
manufacturer. The company has invested in renewable energy, including a 10MW solar
PV plant (2021), with plans for 8MW additional solar and 24MW captive wind power by
March 2025. Key initiatives include HVAC optimization via VFDs, rooftop solar
installations, and retrofitting systems. An online monitoring system tracks section-wise
energy use for daily analysis. Emission intensity reduced to 616 kg CO2/tonne of
cementitious material in FY24 from 650 kg in FY22. Renewable power now contributes
32.4% of power used in blended cement production. Use of alternative raw materials
like fly ash and GGBS helps reduce clinker consumption and associated emissions,
Mr. Tej Prakash Sharma, Manager - E&I
receiving the Award supporting sustainable cement manufacturing.

Grasim Industries Limited, Unit: Indian Rayon, Veraval

Sector – Chemical
Grasim Industries Limited, Unit: Indian Rayon, Veraval has integrated manufacturing
capacity Pot Spun Yarn, Continuous Spun Yarn, and Spool Spun Yarn. Energy Policy is in
place. It covers energy performance as well as climate change challenges. Electricity
and Steam consumption is reduced. Internal training and awareness program are
regularly conducted. 848 participants were given training/awareness through external
and internal programs since 2015. Process-wise /department-wise monitoring is done.
Many steps are taken such as mixer speed optimization and efficient motors up-
gradation. Power consumption, steam consumption, water consumption are
monitored. Energy efficient system is adopted. Culture of continuous improvement is
Mr. Mayur Popat, General Manager - (SSY – E&I)
and Site Energy Manager receiving the Award encouraged, reward and recognition policy is there for ideas and innovation scheme.

L&T Heavy Engineering, Surat

Sector – Engineering
L&T Heavy Engineering, Surat, manufacturing arm of Larsen & Toubro is at the forefront
of introducing Industry 4.0 digital techniques. Energy Policy complying with ISO 50001
requirements has been established. Awareness training is given to all employees.
Energy audits are conducted by external auditors, BEE certified auditors focused on
comprehensive energy assessment and identification of improvement areas.
Certification audits and re-certification audits were conducted by DNV. Baselines are
established. Real time monitoring is done. Energy accounting of all production centre is
done, automatic report and alert is generated. 42% reduction from 2021-22 to 2024-25 in
total energy consumption. Net zero initiatives are planned.
Mr. G. R. Kamath, Head - Sustainability
receiving the Award

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WINNERS

GOLDEN PEACOCK AWARD FOR ENERGY EFFICIENCY

(GPAEE)

Hindalco Industries Limited, Mouda, Nagpur

Sector – Mining and Metallurgy
Hindalco Industries Limited, Mouda, Nagpur, adopts a comprehensive approach to
energy efficiency and sustainability. The plant follows a zero-discharge policy with
effluent and sewage treatment facilities and a vacuum distillation unit for rolling oil
recycling. A 7.5 MW solar power plant with battery storage is installed, with an additional
5 MW planned. AI tools and predictive modelling enhance productivity and energy
efficiency. Energy-efficient continuous casting processes are used to produce high-
quality aluminium with reduced energy use. About 80% of employees have received
sustainability training. The facility has developed high-grade aluminium foils for lithium-
Mr. Harish Talreja, Plant Head ion batteries, currently under qualification with manufacturers in India, Europe, and the
receiving the Award
U.S., strengthening Hindalco's position in the electric vehicle supply chain.

JSW Steel Limited, Dolvi, Raigad

Sector – Steel
JSW Steel Limited, Dolvi, Raigad is an integrated steel plant. Main products are hot
rolled coils and TMT bars. Energy Policy support energy performance, stakeholder
engagement, renewable energy integration and climate change commitment. 85% of
staff were given awareness training on energy efficiency. Energy Conservation practice
is followed by promoting capacity utilization, reduction in solid fuel rates, waste heat
and waste gas utilization, alternate fuel use and process optimization. To encourage
new idea generation, suggestions, and recommendations related to energy efficiency,
a structured approach has been implemented. Real time platform to share ideas has
Mr. Rajesh Srivastava, Senior Vice President been created. Changes in Energy Management system were done to enhance energy
receiving the Award
efficiency goals, Sustainability alignment, Focus on Renewable Energy, and integration
of digital technologies.

Emirates National Oil Company (L.L.C.), UAE

Sector – Oil Refining
Emirates National Oil Company (L.L.C.), UAE is owned by Govt. of Dubai. It is a leading
integrated international energy player operating across the energy sector value chain.
Company has established a comprehensive Energy Policy focused on sustainability,
efficiency, and environmental responsibility. Regular energy performance audits are
conducted to identify inefficiencies and areas for improvement. Focus is on energy
performance improvement, resource efficiency and circularity, lifecycle thinking,
capacity building and communication as well as Climate change mitigation. Staff
training programs are implemented to enhance awareness and skills related to energy
management and conservation. Best practices such as efficient lighting, HVAC
optimization, and equipment upgrades are adopted to reduce energy use. Company
demonstrates measurable energy savings and emissions reductions through
structured energy management.
 WINNERS

GOLDEN PEACOCK ECO-INNOVATION AWARD

(GPEIA)

Tata Motors Limited, CV Engineering, Pune

Sector – Automobile
Eco-Innovation: Pioneering Low Carbon Footprint through Innovative Sealant and Paint
Solutions for TATA Small Commercial Vehicles
Tata Motors Limited, CV Engineering, Pune is a Part of Tata Group. The eco-innovative
product is “Pioneering Low Carbon Footprint through Innovative Sealant and Paint
Solutions for TATA Small Commercial Vehicles”. The innovation aims to diminish energy
& material consumption in paint shop by introducing Novel WOW (wet-on-wet) Sealant
& High Throw Power Electro-Coat. This innovation enabled reduction of material and
energy consumption in paint shop, yielding into a cost reduction of 20% w.r.t. to existing
Mr. Shripadraj Ponkshe, General Manager, material, as well as reduction of CO2 emissions by 15%. Use of a higher molecular weight
Head Materials Engineering receiving the Award resin significantly improves corrosion resistance, contributing to superior long-term
durability of the vehicle body.

Dow Chemical International Private Limited, Navi Mumbai

Sector – Chemical
Eco-Innovation: REVOLOOP™ XUS 60941.01/ XUS 60943.01: Mechanically Recycled
Plastics Resins for Primary and Secondary Packaging (Non-Food) Applications
Dow Chemical International Private Limited, Navi Mumbai is a customer-centric
materials science company. The eco-innovative product suggested is “REVOLOOP™
XUS 60941.01/ XUS 60943.01: Mechanically Recycled Plastics Resins for Primary and
Secondary Packaging (Non-Food) Applications” The company has introducing recycled
polyethylene resin for non-food packaging and industrial films. Post-Consumer
Recycled (PCR) plastic resins are created from used plastic material gathered from
Mr. Shashibhushan Mishra, Senior Technical Services consumer recycling streams. These recycled pellets are mixed with virgin resins to
and Development Leader, Dow Packaging & create a variety of new plastic products that have a lower carbon and energy footprint.
Speciality Plastics receiving the Award
These recycled polyethylene resins are used for non-food packaging and industrial
films.

BEML Limited, Bengaluru

Sector – Engineering
Eco-Innovation: BRS21 Rope Shovel – an Indigenous Milestone in Surface Mining
BEML Limited, Bengaluru is a leading manufacturer of Rail & Metro, Defence and
Aerospace; and Mining and Construction equipment. The eco-innovative product
suggested is “BRS21 Rope Shovel – an Indigenous Milestone in Surface Mining”. The
BRS21 is a high-capacity surface mining machine engineered for digging and loading
overburden into large dump trucks. With an imposing operating weight of 720 tons and
a 21 Cu.m bottom dump bucket, it stands among the most capable machines in its class.
As the first rope shovel of its kind to be fully indigenously developed, the BRS21 reflects
Mr. Rajeev Kumar Gupta, Director - Rail & BEML's deep-rooted capabilities in mechanical, electrical, and control system
Metro Business Division receiving the Award integration. Fully electric operation eliminates exhaust emissions. It marks a
transformative leap in India's capability to produce advanced mining equipment
indigenously.

Armoured Vehicles Nigam Limited, Engine Factory Avadi, Avadi

Sector – Government (Defence)
Eco-Innovation: Concept of Utilization of Waste Product of Gas Nitriding Process
Armoured Vehicles Nigam Limited, Engine Factory Avadi (TN) is manufacturing high-
power diesel engines for Infantry Combat Vehicle BMP-II (Sarath) and Tank T-72M1 (Ajeya
Tank). In collaboration with erstwhile USSR, the project was conceived as Combined
Engine Plant (CEP). The eco-innovative product is “Concept of Utilization of Waste
Product of Gas Nitriding Process”. Gas nitriding is a well-established thermochemical
treatment technique employed to improve the surface hardness, wear resistance, and
fatigue life of engine components, including UTD -20 and V46-6 cylinder liners used in
Mr. Anurag Kumar Sharma, Chief General Manager defence applications. This research proposes a transformative approach to recover
receiving the Award energy from the emissions using modified fuel cell technology.

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 WINNERS

GOLDEN PEACOCK ECO-INNOVATION AWARD

(GPEIA)

Oil and Natural Gas Corporation Limited, Well Stimulation Services, Ahmedabad
Sector – Oil Production
Eco-Innovation: Development of New Generation Frac Fluid Formulation using Effluent
Water
Oil and Natural Gas Corporation Limited, Well Stimulation Services, Ahmedabad is a
part of ONGC leading public sector undertaking engaged in upstream as well as
downstream activities of oil and gas sector. The eco-innovative product is
“Development of New Generation Frac Fluid Formulation using Effluent Water”.
Hydraulic fracturing is critical for sustaining production from mature assets. During a
Mr. Vishesh Pushkar, Chief General Manager Chemical typical hydro-fracturing (HF) job, engineered fluids are pumped at high pressure and
& Head Labs receiving the Award rate into the reservoir interval to be treated, causing a vertical fracture to open. The
developed frac fluid has been successfully utilized for HF jobs in Wadu field of
Ahmedabad Asset. This developed frac fluid has the potential to save around 75-100
million litres of ground water annually.

Steel Authority of India Limited, Bhilai Steel Plant, Bhilai

Sector – Steel
Eco-Innovation: Paver Blocks/Tiles
Steel Authority of India Limited, Bhilai Steel Plant, Bhilai is the flagship unit of SAIL. The
eco-innovative product suggested is “Paver Blocks/Tiles”. Solid waste utilization is the
major area of concern in present scenario for steel industry. Plant has taken initiative for
100% solid waste utilization. Bhilai Steel Plant along with its other research supporting
segments, was seeking avenues to utilize LD slag through new applications such as
manufacturing of Paver Block, Tiles, bricks and slag-sand etc. Two stage crushing facility
Mr. Tapas Dasgupta, Chief General Manager Incharge - Iron
at the raw materials processing yard, has been found to be adequate to crush it to the
receiving the Award desired size of 5mm to 12mm in substituting natural aggregate used in making paver
blocks and tiles.

E.I.D. - Parry (India) Limited, Karur

Sector – Sugar
Eco-Innovation: Artificial Growing Medium from Bagasse
E.I.D. - Parry (India) Limited, Karur is a company operating in sweeteners, biofuels and
nutraceuticals space. The eco-innovative product is “Artificial Growing Medium from
Bagasse”. Soilless agriculture is a method of growing plants in a nutrient-rich artificial
growing medium without soil. The company developed sugarcane bagasse as a viable
organic grow medium alternative, by deploying various techniques in the area of
seasoning, drying, sieving, segregating, processing and block making of sugarcane
bagasse that has resulted in the making of Green Grow Media (GGM) – an effective
Mr. R. Jayasanckar, Senior Vice President - EHS &
Chief Sustainability Officer receiving the Award alternative organic substrate for peat and coir. GGM is being manufactured from a
biomass source that is truly carbon neutral. Responsible water consumption is also
being ensured as depletion of ground water as well as contamination is avoided during
making of GGM.

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 A Report

DELHI & NCR REGION

IOD Members’
Saturday, July 12, 2025
0900 - 1330 Hrs

Le Meridien

Meet Bi-annual
New Delhi

Theme

& Felicitation of Life Members Choosing the Right

Board: Unleashing the
Transformative
Power of Independent
Directors

The Institute of Directors (IOD), India, hosted its Members' expertise but with a strong sense of purpose and integrity
Meet (Bi-Annual) on July 12, 2025, at the Hotel Le Méridien, to steer organisations toward long-term success.
New Delhi. Centered around the theme 'Choosing the
This was followed by a 'Special Presentation' by:
Right Board: Unleashing the Transformative Power of
Independent Directors', the event drew a distinguished Mr. Vineet Nahata
gathering of around 150 participants, including industry Director
leaders, board members, policymakers, and IOD Power Gilt Fixed Income Debt Management LLP
Members. The discussions highlighted the pivotal role
Independent Directors play in enhancing strategic Mr. Nahata's special presentation provided a compelling
oversight, fostering accountability, and enabling financial perspective on the critical link between strong
sustainable growth across the corporate landscape. The board leadership and sustained investor confidence,
event provided a timely platform for IOD members and particularly in times of market volatility. He underscored
the wider governance community to reconnect, that India's economy is currently at a take-off stage,
exchange ideas, and engage in meaningful dialogue on presenting immense opportunities for strategic
emerging boardroom priorities. It reaffirmed IOD's investment. Emphasizing the power of compounding and
continued commitment to strengthening board prudent capital allocation, he urged board members to
effectiveness and advancing the principles of responsible adopt a long-term, disciplined approach to financial
and transparent governance. decision-making. Mr. Nahata presented a detailed
comparison between Government Securities and Bank
The 'Welcome Address' was delivered by: Fixed Deposits, shedding light on the shifting preferences
Lt. Gen. Surinder Nath, PVSM, AVSM (Retd.) of institutional and retail investors. He further shared
President, Institute of Directors insights on the broader market outlook and the evolving
Ex-Chairman, UPSC & Ex-Vice Chief of Army Staff landscape of fiscal instruments, encouraging directors to
former Independent Director, L&T Board remain agile and informed. Drawing on recent financial
developments, he reinforced the importance of financial
Lt. Gen. Nath welcomed all the distinguished dignitaries literacy at the board level, not just as a compliance
and participants at the conference. He opened the measure, but as a cornerstone for effective risk
session with a reflective address on the evolution of management and forward-looking strategy. His address
governance in Indian boardrooms. He emphasized that set the tone for integrating financial prudence into the
the culture of an organisation is shaped at the board level, broader conversation on governance excellence.
underscoring the board's responsibility in setting the tone
for ethical leadership and sustained excellence. He called This was followed by a 'Special Presentation' by:
for greater gender diversity and inclusive representation Mr. Pradeep Chaturvedi
in the boardroom, along with value-driven leadership that Vice President
fosters a culture of growth, accountability, and continuous Institute of Directors
learning. Lt. Gen. Nath concluded by highlighting that in
the face of rapid transformation, boards must adapt Mr. Chaturvedi unveiled IOD's Eight-Pillar Framework for
proactively to stay relevant and effective, and Independent Directors - A bold roadmap to strengthen
Independent Directors must be equipped not just with board independence, accountability, and transparency.

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 PLENARY
SESSION - I
INAUGURAL
SESSION

Lt. Gen. Surinder Nath, Mr. Vineet Nahata Mr. Pradeep Chaturvedi
PVSM, AVSM (Retd.) Director Vice President
President Power Gilt Fixed Income Debt Institute of Directors
Institute of Directors Management LLP Delivering the 'Special Presentation'
Delivering the 'Welcome Address' Delivering the 'Special Presentation'

PLENARY SESSION - II : PANEL SESSION

Choosing the Right Board: A Strategic Guide for Independent Directors

CS Preeti Grover Mr. Tejpreet Singh Chopra Mr. Sudhir Kumar Mr. Bimlendra Jha
Independent Director on Multiple Boards Chairman Managing Director Director
Regional Council Member - NIRC of ICSI Bharat Light and Power Private Limited Petronet MHB Limited Ignitingminds Guru Private Limited
Moderator for the ‘Panel Session’ Board Member, Indian Energy Exchange, Former Managing Director
Tube Investments of India Limited, Jindal Steel and Power Limited &
Royal Enfield / Eicher Motors and on Former Board Member, Tata Group
Multiple Boards

Distinguished Panelist of the Session

(from L to R): CS Preeti Grover, Mr. Tejpreet Singh Chopra, Mr. Sudhir Kumar and Mr. Bimlendra Jha
 REPORT

The framework proposed changes in the 8 areas of: 2. Mr. Bimlendra Jha
Director, Ignitingminds Guru Private Limited
1. Strengthening Independence in Selection
former MD, Jindal Steel and Power Limited &
2. Board Composition & Diversity former Board Member, Tata Group
3. Annual Training & External Performance Evaluation 3. Mr. Sudhir Kumar
4. Strengthening Governance and Oversight Managing Director
Petronet MHB Limited
5. Increasing Transparency and Accountability
CS Grover set the context for the session by emphasizing
6. Providing Legal Protection and Clarity of Liability that the role of Independent Directors has evolved from
7. Aligning Compensation with Responsibilities merely ensuring compliance and oversight to becoming
catalysts for strategic transformation within organisations.
8. Empowering Minority Shareholders
Independent Directors must move beyond the
The audience feedback was taken through a survey, and fundamentals and stay updated with emerging
the results indicated strong endorsement of the proposed technologies and digital transformation trends, which are
recommendations. Mr. Chaturvedi credited the dedicated now integral to informed boardroom decision-making.
IOD Study Group comprising - Dr. Ashish Makhija,
As the session moderator, she steered the discussion
Mr. Manoj K. Raut, CS Sana Rehman, and CS Rupali
toward critical factors like value, role clarity and
Katoch for their rigorous development of the framework.
understanding company's vision that Independent
He extended special appreciation to IOD's leadership,
Directors must consider before joining any board. The
including Lt. Gen. Surinder Nath, Mr. Desh Deepak Verma
conversation also addressed the deliverables expected
IAS (Retd.), Dr. V. K. Agnihotri IAS (Retd.), Mr. Sailesh IAS
from Independent Directors, ranging from financial
(Retd.), Dr. Sameer Sharma IAS (Retd.), and Mr. Sitaram
prudence and risk oversight to bringing in domain
Kunte IAS (Retd.) for their strategic guidance.
expertise and strategic foresight. She further shed light on
This pioneering initiative marks a significant leap toward the governance and training gaps that still exist in many
strengthening corporate governance standards in India boardrooms, and the vital role that the Institute of
and beyond, and IOD proposes to submit these Directors (IOD) play in bridging those gaps through
recommendations to the Ministry of Corporate Affairs, continuous learning and capacity building.
Government of India.
She concluded by calling for a re-skilling mind-set among
In his stirring conclusion, Mr. Chaturvedi said: "As we Independent Directors, urging them to acquire new
march toward Viksit Bharat 2047, Independent Directors capabilities in emerging dynamic areas to remain
must become the standard-bearers of ethical governance, effective in their evolving roles.
strengthening India's global competitiveness through truly
independent, world-class boards.” Mr. Chopra outlined key criteria for board selection:
(1) robust corporate governance implementation,
exemplified by the Tata Group's leadership-driven culture;
PANEL SESSION (2) cultural fit favoring boards that welcome dissent over
Choosing the Right Board: A Strategic Guide for conformity; and (3) alignment with the company's growth
Independent Directors stage through careful risk-reward analysis.

The Panel Session was moderated by: He advised assessing non-operational teams' diversity as
an innovation indicator, stressing directors' need for
CS Preeti Grover
foundational tech literacy (AI/GenAI) to make future-ready
Independent Director on Multiple Boards
decisions. Modern directors, he argued, must expand
Regional Council Member - NIRC of ICSI
beyond traditional skills to master technology, geopolitics,
The distinguished panelists for the session were: sustainability, and operational nuances – enabling them to
challenge consensus, spot opportunities, and preempt
1. Mr. Tejpreet Singh Chopra
risks confidently.
Chairman, Bharat Light and Power Private Limited
Board Member, Indian Energy Exchange, Tube Mr. Jha challenged directors to move beyond titles and
Investments of India Limited, embrace their role in shaping ethical businesses. He
Royal Enfield / Eicher Motors and on Multiple Boards identified red flags: value compromises, unethical

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PLENARY SESSION - III : MASTERCLASS SESSIONS

Ms. Punita Kumar Sinha Mr. Desh Deepak Verma, IAS (Retd.) Mr. Sumanta Chaudhuri, IAS (Retd.) Mr. Arun Goyal, IAS (Retd.)
Investment expert and Independent Principal Advisor, Institute of Directors Former Secretary, Ministry of Coal Former Member
Director on Multiple Boards including Former Secretary General, Rajya Sabha, Govt. of India Central Electricity Regulatory Commission
Lupin, Embassy REIT, Marelli Japan, Parliament of India Former Secretary to Govt. of India
Tata Capital, Chair-IIT Delhi, Board Member on JSW Energy Limited, Cabinet Secretariat
Investment Board, former Board Member Jackson Group and on Multiple Boards
CFA Institute

Mr. Prasanta Mahapatra, IAS (Retd.) Distinguished Speakers of the Session

Senior Advisor (from L to R): Ms. Punita Kumar Sinha, Mr. Desh Deepak Verma, IAS (Retd.), Mr. Sumanta Chaudhuri, IAS (Retd.),
International Solar Alliance (ISA) and Mr. Arun Goyal, IAS (Retd.), and Mr. Prasanta Mahapatra, IAS (Retd.).
Former Additional Chief Secretary,
Govt. of Haryana
 REPORT

expectations, ignored audits, or neglected EHS standards 4. Mr. Prasanta Mahapatra, IAS (Retd.)
– all deal breakers for accepting board positions. Senior Advisor, International Solar Alliance (ISA) and
Comparing Indian and European boards, he stressed former Additional Chief Secretary, Govt. of Haryana
directors' duty to question, uphold public interest, and
counter groupthink. True independence, he argued, Ms. Sinha delivered a compelling address on the theme
means rejecting roles that conflict with values, maintaining “Transformative Role of Independent Directors in
objectivity, and spotlighting overlooked issues. Directors Elevating Corporate Governance.” She emphasized how
must embody the values they represent, making ethical independent directors have transitioned from being
alignment non-negotiable. peripheral observers to becoming central figures in
steering organizations toward ethical and effective
Mr. Kumar outlined critical factors for independent governance. While acknowledging differences between
directors before joining the board including (1) assessing public and private sector boards, Ms. Sinha stressed that
governance structures, (2) role clarity, and (3) board the fundamental expectations from independent
orientation. He stressed selecting boards that match both directors remain consistent across sectors - to serve as
expertise and values, with extra due diligence for ethical compasses, enhance oversight quality, and help
public/private sector differences. While valuing diversity, build resilient, future-ready organizations. She urged IOD,
he warned against excessive divergence hindering to develop a Formal framework clarifying the roles and
effectiveness. Mr. Kumar advocated collaborative responsibilities of Nominee Directors, an area currently
decision-making and holistic review of all agenda items lacking standardization. Her insights underscored the
against long-term organizational goals. He emphasized critical importance of adaptability, principled leadership,
values as both a compass and a diagnostic tool for and evidence-based decision-making in today's dynamic
alignment. His message was clear: Effective directors corporate governance landscape, setting the stage for
combine empowered oversight with value-driven robust discussions on strengthening board effectiveness
judgment to ensure sustainable organizational health. across all sectors.

This was followed by an engaging and interactive Q&A Mr. Verma shared reflections from his rich journey
session with the Audience. transitioning from public to private sector. In response to a
question about how these experiences differ, he
MASTERCLASS SESSION remarked that while the freedom and structure of
decision-making may vary across sectors, the core
The Masterclass Session was moderated by:
attitude with which one conducts oneself remains
Ms. Punita Kumar Sinha fundamentally the same. He noted that the private sector
Investment expert and Independent Director on encourages innovation, often unlocking potential in
Multiple Boards including unique and dynamic ways. Drawing on his experience in
Lupin, Embassy REIT, Marelli Japan, Tata Capital, government, Mr. Verma observed that every ministry
Chair-IIT Delhi, Investment Board, former Board Member operates with its own specific vision and evolving policy
CFA Institute frameworks. Yet, despite the diversity of approach, there
remains a unified, holistic vision underpinning governance
The Distinguished speakers of the Panel include: at all levels, and understanding. This helped shape his
1. Mr. Desh Deepak Verma, IAS (Retd.) ability to see the bigger picture and adapt his approach
Principal Advisor, Institute of Directors accordingly in corporate roles. Offering practical advice to
former Secretary General, Rajya Sabha, Independent Directors, he urged for a culture of genuine
Parliament of India input and critical thinking. IDs should proactively seek
Board Member on JSW Energy Limited, proper induction, immerse themselves in understanding
Jackson Group and on Multiple Boards company operations, and identify the key individuals who
can provide real-time insights. His remarks offered a
2. Mr. Sumanta Chaudhuri, IAS (Retd.) balanced view of governance across sectors, reinforcing
former Secretary, Ministry of Coal, Govt. of India that while structures may vary, the essence of effective
leadership, rooted in curiosity, integrity, and perspective,
3. Mr. Arun Goyal, IAS (Retd.)
remains universal.
former Member
Central Electricity Regulatory Commission Mr. Chaudhari emphasized that Independent Directors
former Secretary to Govt. of India, Cabinet Secretariat must offer analytical rigour and alternative perspectives

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Mr. Dhanendra Kumar, IAS (Retd.) Mr. Manoj K. Raut
Former Secretary to Govt. of India, Chief Executive Officer & Secretary-General
First Chairperson of Competition Commission of India, Institute of Directors
India's Executive Director at World Bank's Board proposed 'Concluding Remarks' and 'Vote of Thanks’
Delivering the 'Special Remarks’

Celebration of Institute of Director's (IOD) 35th Birthday.

 REPORT

that challenge the status quo and help companies governance's bedrock, where independent directors must
prepare for uncertainties. He mentioned fragile global actively support organizational vision. Drawing from his
supply chains, especially in critical sectors like rare earth transformative work in Haryana, he demonstrated how
elements, as a strong reason for Independent Directors to inclusive, forward-looking governance creates impact. His
introduce external perspectives in board discussions. He cross-sector experience crystallized one truth: with
noted that in an increasingly volatile world, Independent powers given to Independent Directors comes the non-
Directors must continuously ask: What happens when negotiable responsibility to stand by decisions with
things go wrong? Their ability to think beyond internal unwavering integrity and foresight.
metrics and anticipate external risks is essential for
resilient decision-making. For IDs to contribute This was followed by an engaging and interactive Q&A
meaningfully, he stressed, all relevant information, session with the Audience.
especially data that impacts long-term planning and risk
This was followed by the felicitation of IOD's Life Members
evaluation, must be made accessible to them in a timely
and transparent manner. He underlined that a diverse This was followed by the 'Special Remarks' by:
board not only broadens the pool of expertise but also
enhances the quality of discussions by incorporating Mr. Dhanendra Kumar, IAS (Retd.)
varied viewpoints, ultimately leading to more robust Former Secretary to Govt. of India,
governance. His remarks reinforced the idea that IDs must First Chairperson of Competition Commission of India,
act as informed, forward-looking stewards who bring India's Executive Director at the World Bank's Board
clarity, objectivity, and depth to boardroom deliberations.
Mr. Kumar shared valuable insights on the evolving
Mr. Goyal drew on his extensive experience across responsibilities and protections necessary for
diverse domains and PSUs and outlined the fundamental Independent Directors in the contemporary regulatory
duties of independent directors with razor-sharp clarity. landscape. After honoring IOD's Life Members, Mr. Kumar
He emphasized that protecting shareholder interests -
applauded IOD's global governance leadership. He
whether minority stakeholders in private companies or
particularly commended the Golden Peacock Awards,
government holdings in PSUs - remains the non-
calling them the "gold standard" for excellence in
negotiable core of directorship. His prescription for
corporate governance on a global stage. He then outlined
effective governance was refreshingly practical: directors
key director responsibilities, drawing from his regulatory
must master financial statements, critically examine every
experience:
board agenda item, and vocally challenge unclear or
incomplete information, particularly regarding audits and • Expanded Legal Awareness: Beyond Companies Act,
accounts. Mr. Goyal highlighted a critical industry concern
understanding of SEBI, RBI, Income Tax, and
- the need to redefine liability frameworks to protect
Competition Laws
directors acting in good faith, arguing that excessive
personal risk undermines effective governance. His • Anti-Competition Vigilance: Urged directors to actively
message cut through the noise: true independent prevent anti-competitive practices and suggested that
directors combine financial acumen with the moral IOD develops structured training modules on
courage to ask tough questions, transforming regulatory compliance under the Competition Act
boardrooms from rubber-stamp forums into robust
governance mechanisms. • Compliance Diligence: Warned against perfunctory
review of compliance reports, and urged directors to
Mr. Mahapatra shared his unique perspective drawn from
give attention to these report, as they warrants.
decades of public service and governance at the state
and institutional level. Reflecting on his transition from His key recommendations were - Boards must implement
government administration to corporate boardrooms, he indemnification clauses to protect directors acting in good
remarked that, contrary to common perception, there is faith. He asserted that legal safeguards and regulatory
often more freedom to speak openly in government literacy create the confidence needed for truly
boards than in some corporate settings. He highlighted
independent governance.
how strategic alignment and accountability form

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 FELICITATION OF
IOD'S LIFE MEMBERS
by
Mr. Dhanendra Kumar, IAS (Retd.)
former Secretary to Govt. of India
First Chairperson of Competition, Commission of India
India’s Executive Director at World Bank’s Board
&
Lt. Gen. Surinder Nath, PVSM, AVSM (Retd.) Ms. Geeta Verma
Senior Legal Counsel, Air Arabia PJSC, Gurugram
President, Institute of Directors
Ex-Chairman, UPSC & Ex-Vice Chief of Army Staff
former Independent Director, L&T Board

Ms. Puja Luthra

Director, Puraveeraj Mutual Fund Distributors Pvt. Ltd., Agra

Ms. Saroj Chelluri

Independent Director, Sharika Enterprises, Noida

Ms. Anuradha Mudgal

Global Lead - IT PMO, Randstad Digital, Delhi
Mr. Hukam Singh Chaudhary
Director, Huksan Infra & Legal Solutions LLP, Delhi

Mr. Pradeep Pasari

Consultant, Hero Fincorp Limited, Delhi
Mr. Sudhir Kumar
Managing Director, Petronet MHB Limited, Noida

Mr. Jagdish Kumar Kalra

Ms. Vandana Garg Advisor - Business Development, Industrial Coatings Division
Director, S&P Global, Gurugram Kansai Nerolac Paints Limited, Delhi
 REPORT

The 'Concluding Remarks' and 'Vote of Thanks' were IOD was especially grateful to its Event Partners.
proposed by:
Our Silver Partner: Power Gilt Fixed Income Debt
Mr. Manoj K. Raut Management LLP
Chief Executive Officer & Secretary-General Our Bronze Partner: HSCC India Limited
Institute of Directors
This report is compiled by:
Mr. Raut in his powerful closing remarks, celebrated IOD's
35-year legacy as a transformative force in shaping Ms. Mukulika Mukherjee
boardroom excellence. He shared, from a pioneering Manager – Events & Conferences
initiative to becoming the gold standard in corporate Institute of Directors
governance, IOD's journey reflects our collective Edited by:
commitment to elevating boardroom governance and
directorship." CS Sana Rehman
Executive Editor – Director Today
He extended heartfelt appreciation to the attendees, Institute of Directors
distinguished & eminent speakers, and the dedicated IOD
teams whose efforts made the event impactful. Turning to
the future, Mr. Raut issued a compelling call to action:
“Today's independent directors must embody the trifecta
PARTNERS & SUPPORTERS
of modern governance - transparency as their compass,
Silver Partner Bronze Partner
resilience as their armour, and progressive thinking as
their driving force."

He concluded, as we move forward, let us continue to

work together to build stronger, inclusive, and future-
ready boards — let's inspire a new era of purposeful
governance.

ASSESSORSInvited
R

GOLDEN PEACOCK AWARDS Would you like to be an assessor of the

SECRETARIAT most prestigious awards?
invites specialists & experts in the areas of

CORPORATE SOCIAL We are constantly on the lookout for professional

volunteers to be assessors for
RESPONSIBILITY
HR EXCELLENCE
Golden Peacock Awards
INNOVATION Please send your CV to
info@[Link]
MANAGEMENT
GOLDEN PEACOCK AWARDS SECRETARIAT
M-56A, Greater Kailash Part-II (M-Block Market), New Delhi - 110048, India
Tel.: +91 - 11 - 41636294, 41636717, 41008704
[Link]

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A Report
Institute of Directors
Hyderabad Region
presents
IOD Hyderabad Regional

Members'
Meet Theme
Friday, June 20, 2025 Country Club
15:00 - 17:30 hrs (IST) Begumpet, Hyderabad “Role of AI in Board Governance:
Preparing for Digital Transformation”

The Hyderabad Regional Members' Meet 2025, organised This was followed by the 'Theme Address' delivered by:
by the Institute of Directors (IOD), Hyderabad Region, was
Dr. Sriram Birudavolu
held on June 20, 2025, at the Country Club, Begumpet, Chief Executive Officer
Hyderabad. The event theme was "Role of AI in Board Cyber Security Centre of Excellence,
Governance: Preparing for Digital Transformation". Data Security Council of India (A NASSCOM Initiative),
This impactful gathering brought together board Hyderabad
directors, corporate leaders, AI practitioners, enterprise Dr. Birudavolu focused on the strategic integration of AI in
architects, legal experts, and IOD members to deliberate governance, emphasizing the importance of
on the rising role of Artificial Intelligence in corporate understanding AI capabilities, limitations, and risks. He
governance. With the increasing relevance of digital tools highlighted the need for data quality, privacy safeguards,
in boardroom decision-making, the event emphasized the model selection, and domain-specific applications.
urgent need for responsible AI adoption, strategic digital Stressing the value of agentic AI for board-level
foresight, and inclusive boardroom transformation. automation, he advocated the use of AI for board
Through keynote addresses, technical insights, and an documentation, legal tracking, and ESG-aligned
interactive panel discussion, the session provided performance metrics.
actionable frameworks for navigating the evolving
He highlighted the need for boards to evaluate
governance landscape. performance not only on traditional financial metrics but
Inaugural Session also on how well they address ESG priorities, manage
diverse risks including cyber, IP, operational, and financial
The 'Welcome Address' was delivered by: risks, and transform internal systems for digital readiness.
Mr. T. V. Shiva Rao He concluded by encouraging directors to embrace AI not
Hon. Regional Director, merely as a technological tool but as a core enabler of
Institute of Directors (IOD), Hyderabad Region strategic value creation within a broader ecosystem.
Chief Advisor, Future Labs, Hyderabad Reiterating IOD's commitment to supporting board
leaders, he invited members to explore structured
Mr. Rao opened the event by warmly welcoming all programs and frameworks developed to help boards
participants and highlighting the importance of the navigate the AI-driven future responsibly and effectively.
theme. He underscored how boardrooms must evolve
This was followed by the 'Special Address' delivered by:
from legacy models to tech-enabled governance
frameworks. He highlighted the need for responsible and Mr. Vivek Mahendra
ethical AI, rooted in fairness, transparency, and Managing Partner
accountability, as foundational to future governance. He Vivikta Advisory & Creatives, Hyderabad
also outlined the session's objectives and drew attention
Mr. Mahendra offered a critical and strategic view on AI's
to IOD's ongoing National and International programs and
role in boardrooms. He raised thought-provoking
initiatives aimed at equipping boards for a tech-enabled
questions about AI's necessity and applicability in
future. corporate governance. He drew attention to

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87
INAUGURAL SESSION

Mr. T. V. Shiva Rao Dr. Sriram Birudavolu Mr. Vivek Mahindra

Hon. Regional Director Chief Executive Officer Managing Partner
Institute of Directors (IOD), Cyber Security Centre of Excellence, Vivikta Advisory & Creatives
Hyderabad Region & Data Security Council of India Hyderabad
Chief Advisor, Future Labs, Hyderabad (A NASSCOM Initiative), Hyderabad delivering the 'Special Address'
delivering the 'Welcome Address' delivering the 'Theme Address'

PLENARY SESSION: INTERACTIVE PANEL DISCUSSION

Mr. Shujath Bin Ali Mr. K. Lakshmi Narasimha Moorthy Mr. Alhad Posam
Chief Legal Officer Co-Founder & Chief Executive Officer Enterprise Business Head for
Fourth Partner Energy Limited, nicheBrains India Private Limited India and APAC
Hyderabad Hyderabad BoardPAC Private Limited, Mumbai
As 'Session Moderator' As 'Session Speaker' As 'Session Speaker'

Distinguished speakers of the Interactive Panel Discussion (Group Photo) Ms. Karuna Grover
(L to R) Mr. Alhad Posam, Mr. Shujath Bin Ali and Mr. K. Lakshmi Narasimha Moorthy Regional Manager
Institute of Directors (IOD)
Hyderabad Region
Delivering 'Closing Remarks' &
‘Vote of Thanks'
 REPORT

underappreciated areas like enterprise architecture and governance. Panelists agreed that AI literacy, ethical
AI's environmental cost, questioning the scalability of deployment, and robust oversight are essential to building
unchecked AI deployment. Highlighting risks such as data future-ready boards. With examples from real-life
privacy, IP leaks, and skill mismatches, he proposed implementations and cautionary perspectives, the meet
actionable solutions including AI oversight committees, reinforced AI's dual nature as both opportunity and
risk audits, and digital fluency in board composition. He responsibility.
concluded with his proprietary “Skyscraper Framework”
for AI-readiness and challenged boards to lead with The session concluded with an interactive Q&A session.
ethics, foresight, and caution. 'Closing Remarks' & 'Vote of Thanks' were proposed by:
Plenary Session: Interactive Panel Discussion Ms. Karuna Grover
Role of AI in Board Governance: Preparing for Digital Regional Manager
Transformation Institute of Directors (IOD), Hyderabad Region

The session was moderated by: Ms. Grover extended heartfelt gratitude to all partners,
speakers, and IOD members. She acknowledged the
Mr. Shujath Bin Ali depth of insight shared and expressed appreciation for
Chief Legal Officer the vibrant discussions that made the event impactful.
Fourth Partner Energy Limited, Hyderabad Her closing remarks captured the importance of AI-driven
governance and inspired members to proactively
Mr. Ali highlighted the increasing importance of AI literacy
embrace technological leadership.
in the boardroom. He noted the shift from digital
transformation discussions to active AI strategy planning The Institute of Directors (IOD) extends its sincere
and observed a growing FOMO (fear of missing out) gratitude to its Event Partners:
across sectors regarding AI tools in HR, legal, and
compliance. Supporting Partners:

The panel featured the following distinguished speakers: • Vivikta Advisory & Creatives

1. Mr. K. Lakshmi Narasimha Moorthy • BoardPAC Private Limited

Co-Founder & CEO
nicheBrains India Private Limited, Hyderabad
This report is compiled by:
2. Mr. Alhad Posam
Enterprise Business Head for India & APAC Ms. Karuna Grover
BoardPAC Private Limited, Mumbai Regional Manager
Institute of Directors (IOD), Hyderabad Region
Mr. Moorthy discussed AI's value in strategy formulation,
scenario simulation, and early risk detection. He shared
how forward-looking boards use AI to simulate market
disruptions, citing AstraZeneca's pandemic strategy as an
example.

Mr. Posam traced the evolution of board operations from

print to digital and forecasted a future where AI-powered
platforms allow boards to access historic and real-time SUPPORTING PARTNERS
data for informed decisions. He envisioned tools enabling
directors to extract years of insights instantly to empower
strategic governance.

Conclusion

The session emphasized how AI is evolving from a

support function to a strategic enabler in board

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 IOD Interview

Mr. Vijay Karia

Chairman & Managing Director
Ravin Group of Companies

As Ravin Group marks its 75th anniversary – a journey

that now coincides with India's transformative Amrit
Kaal era – how do your respected father's founding
values align with the nation's aspirations? With the
third generation now actively shaping the company's
future, how do you envision Ravin Group contributing
to India's next chapter of growth and infrastructure
excellence?
Response:
As we mark 75 years of Ravin Group, I reflect on the vision
Ravin Group has contributed to India's infrastructure
of my father, Late Shri Pramod Karia, who founded this
marvels, and has recently announced a C500 crore
company not just as a business, but as a mission to
investment to expand its cable manufacturing
support India's development in its earliest days of
capacity, signalling strong confidence in India's
independence. He founded this company with the core
infrastructure growth. What opportunities do you
values of integrity, perseverance, and a deep
foresee in this sector, and how will this expansion
commitment to nation-building—values that resonate
align with the Group's broader vision for the future?
strongly with the spirit of India's Amrit Kaal.
Response:
His vision was never just about creating a successful
enterprise, but about enabling India's industrial and India's infrastructure is undergoing a generational
infrastructure progress through innovation and quality. transformation—be it in clean energy, defense
These founding ideals continue to guide us today. modernization, or urban mobility. At Ravin, we see these
developments as an extension of our lifelong mission to
With the third generation now actively involved, we see
support nation-building and at the same time reach out to
our role evolving from being just a manufacturer to
make an indelible print in Global markets.
becoming a solutions partner in India's growth story. Our
focus is on sustainable infrastructure, digital integration, Our plans for C500 crore investment to expand cable
and technological advancement in energy systems—areas manufacturing capacity is not just a business decision—it's
critical to India's next chapter. We are also aligning a reaffirmation of our belief in India's future. This capacity
ourselves with national missions such as Make in India, will support high-growth sectors like EV infrastructure,
Digital India, Viksit Bharat, and the transition to green solar and wind energy, metro, rail, and digital data
energy. networks.

As we look ahead, our aim is to not just keep pace with This vision aligns with our legacy of enabling landmark
India's aspirations, but to actively power them. projects—from metro lines and industrial corridors to

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energy grids across the country. Our contribution to the operations follow the same ethical standards, technical
recently inaugurated projects like the Udhampur- excellence, and customer-first approach that define us.
Baramulla-Srinagar Rail Link, the Mumbai Underground
This balance—of consistency in principles and flexibility in
Line 3, The Reliance Jio World Centre at BKC, the New
execution—is what allows Ravin to build meaningful,
Energies Complex at Jamnagar etc. boldly reflect this. And
sustainable relationships across borders. This approach
at the same time, it also speaks of our futuristic strategy:
has enabled us to be seen not just as an Indian exporter,
innovation, sustainable manufacturing, and
but as a trusted global partner. Our global presence is an
technologically advanced solutions. We are also focusing
extension of our Indian identity—and it reflects the
on R&D, automation, and green manufacturing practices
confidence the world places in Indian engineering and
to future-proof our operations.
innovation.
This is not just growth for us—it's growth with global reach
Ravin Group strong commitment to environmental
& purpose, rooted in nation-building. stewardship. How do such collaborations enhance
Ravin Group has successfully expanded into multiple your sustainability mission, and how is this ethos
countries. How do you ensure the company's ethos integrated into the planning of your large-scale
remains consistent while embracing diverse cultures infrastructure projects?
and business practices abroad? Response:
Response: Sustainability is not a checkbox—it's a core value that must
be integrated into every aspect of how we operate and
As Ravin Group has grown beyond India's borders, our
grow.
global journey has been guided by a simple yet powerful
principle: stay rooted, while reaching out to markets We have always been actively extending our impact
which are quality conscious. beyond the factory floor and into the communities and
ecosystems we serve. Whether it's through awareness
Our ethos—built on trust, quality, and long-term campaigns, environmental clean-ups, electrification of
partnerships—remains non-negotiable, whether we are rural India through our smart solar powered lights and
working in India, the Middle East, Africa, or Europe. What tracking systems, or supporting climate action, these
changes is how we adapt those values to resonate with collaborations strengthen our resolve to be a force for
local cultures, regulations, and customer expectations. good.
We invest time in understanding each market deeply, From our involvement in renewable energy corridors to
respecting local business norms, and building culturally advanced cable systems for EV and solar projects, we
aligned teams. At the same time, we ensure our global ensure that each project carries a lower environmental

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footprint. We are embracing green manufacturing

practices and circular economy principles—not because
they are trending, but because they are essential for the
kind of legacy we want to leave behind.
As a company that helped lay the groundwork for India's
infrastructure in its formative years, we now see it as our
responsibility to build that future responsibly. Ultimately,
our goal is to ensure that every step of our expansion
contributes not just to progress, but to responsible
progress—in harmony with the environment and aligned
with India's larger sustainability goals.
Beyond infrastructure, Ravin Group actively supports
education, healthcare, and social welfare initiatives.
What inspires this commitment, and how do you
measure the impact of these efforts?
Response: powerlines—it's about smart, digital, and resilient
Our commitment to education, healthcare, and social ecosystems. These developments are redefining how
welfare stems from a deeply held belief passed down people live, connect, and consume electricity, as
from our founder—that business exists not just to create electricity is the new energy.
value, but to add meaning to society—and we have
At Ravin Group, we are actively innovating to meet these
carried this philosophy forward with us with deep
future needs. From developing advanced cables for solar,
conviction.
wind, and EV infrastructure to investing in IoT-enabled
We are inspired by the communities that have supported solutions for predictive maintenance, and green
us through generations. Giving back is not a choice; it's a manufacturing practices, we are reimagining and
responsibility. Whether it's supporting underprivileged reengineering what infrastructure can look like.
children's education, enabling access to quality
While we are proud to be part of transformative
healthcare, or contributing to disaster relief, we see these
infrastructure projects, we state that building
efforts as integral to our purpose. For a company that has
infrastructure is not easy. Local rules, regulations,
grown alongside the nation, giving back isn't a side
specifications, working in tight timelines and in
project—it is central to who we are.
challenging circumstances are something we are now
To ensure our initiatives create real, lasting change, we primed to. We are also working closely with city planners,
partner with credible organizations and track outcomes EPC contractors, and technology partners to co-create
carefully—be it improved school attendance, measurable solutions that are scalable, efficient, and future-proof. Our
health indicators, or skill development leading to focus is not just to keep up with change—but to help lead
employment. More than metrics, though, we measure it.
impact by lives touched and hope restored.
As India and the world build the cities and energy systems
In the end, the greatest return on investment is seeing of tomorrow, Ravin aims to be a trusted enabler of that
communities thrive—and knowing that we played even a progress—with innovation at the core and sustainability as
small part in their journey forward. our compass.
Looking ahead, what emerging trends in As a leader steering a 75-year legacy while embracing
infrastructure excite you the most? How is Ravin modernization, what key lessons would you share
Group innovating to meet the needs of tomorrow's with the next generation of entrepreneurs and
cities and economies? infrastructure pioneers?
Response: Response:
What excites me today is how we are at the cusp of a Leading a legacy brand like Ravin Group through the lens
new era which is evolving the definition of infrastructure. of modernization has taught me that tradition and
It's no longer just about building roads, bridges, or innovation are not opposing forces—they are

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complementary strengths. It's about carrying forward the

spirit of those who came before you, while preparing for Mr. Vijay P. Karia is the Chairman and Managing
what lies ahead. The VUCA has changed dramatically to Director of Ravin Group, one of India's pioneering
from Volatile to Violent, Uncertain to Ugly, Complex to names in the power and energy sector with a legacy
Competitive and Ambiguous to Arbitrary. of over 75 years. Under his leadership, Ravin has
To the next generation of entrepreneurs and transformed from a cable manufacturing company
infrastructure pioneers, I would share three key lessons: into a global energy solutions provider, with a
presence in over 100 countries.
First, hold your values close. In a world full of change,
A passionate advocate for Make in India, Power for
integrity and trust remain timeless advantages—they earn
all and sustainable development, Mr. Karia is deeply
you trust, which is the most valuable currency in business.
involved in shaping policy and innovation in the
Second, change fearlessly but thoughtfully. Embrace electrical industry. He actively contributes to various
innovation—but don't chase it blindly. Innovation is national and international forums that focus on
essential, but it must be purposeful. Let every new idea infrastructure, power transmission, and energy
solve a real world problem or improve a life. efficiency.
Known for his foresight and integrity, Mr. Karia has
Third, success is never built alone. Surround yourself with
received multiple accolades for excellence and was
good people, listen more than you speak, and build
awarded the “Times Now Most Promising Business
organizations where collaboration, humility, and empathy
Leaders of Asia” Award in 2025. He is also a
are celebrated.
respected voice in conversations around clean
Ultimately, building something that lasts—like we've energy, environmental responsibility, and inclusive
strived to do over 75 years—is not just about scale or growth. His deep-rooted commitment to India's
speed. It's about building with intention, and leaving a progress continues to inspire a generation of
legacy that inspires others to do the same. Our tag line is entrepreneurs and change-makers.
“Jod Zindagi ke Taar - Tu Kar Kamaal”.

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FELLOW / FL – 1500 FELLOW / FL – 1501

Mr. Sundaram Ramaswamy, [Link] Mr. Mahendranath Ramachandralal Mehra, [Link]

Founder and Managing Director Chief Financial Officer
Aerospace Engineers Pvt. Ltd. Jasmi's Corporation WLL
Salem Bahrain

Mr. Sundaram Ramaswamy is a visionary technocrat and the Blending global financial expertise with strategic foresight,
Founder & Managing Director of Aerospace Engineers Pvt. Ltd. Mr. Mahendranath Ramachandralal Mehra is currently the Chief
(AEPL), a leading aerospace and defence manufacturing company Financial Officer at Jasmi's Corporation, Bahrain—a leading
in India. With over 35 years of experience, he has been instrumental diversified group operating Quick Service and Fine Dining restaurant
in advancing indigenous innovation and world-class production in chains. With 40 years of strategic financial leadership across the
the Aerospace and Defence sectors. An engineer by qualification, he Chemical, Telecom, and QSR/Fine Dining industries, Mr. Mehra has
holds degrees in Polymer Technology, Mechanical Engineering consistently delivered results in profitability, growth, regulatory
([Link]), and a PGDPRI. Under his leadership, AEPL became the first compliance, and innovation by aligning financial strategy with long-
Indian company to receive NADCAP approval for Elastomer Seals. term stakeholder value, driving financial integrity, managing risk, and
The company is certified with AS9100D, ISO/IEC 17025:2017, leading high-performance teams. Prior to his current role, he served
NADCAP for Heat Treating, Fluid Distribution Systems, and as CFO for a major Internet Service Provider across Kuwait, Saudi
Chemical Processing, and DGCA Production Organisation Approval. Arabia, and Bahrain. He began his career as Finance Officer at TAC
It has developed 123 CEMILAC-certified rubber compounds and (SPIC Group), manufacturer of Soda Ash, Ammonium Chloride,
indigenised over 15,000 certified aircraft components, supporting Pesticides, and Detergents. He has also contributed to academia as
key defence programs such as BrahMos, Akash, and [Link] a part-time faculty member, teaching CPA courses at the Bahrain
also holds long-term contracts with Boeing and Honeywell, and a Institute of Banking and Finance and delivering finance and strategy
strategic supply agreement with the Egyptian Armament Authority. programs for UK universities in Bahrain. He holds professional
Mr. Sundaram's outstanding contributions have earned him 14 qualifications including ACA (ICAEW, UK), CPA (USA), ACMA (UK &
national accolades, including the Innovation Award (2014) and the India), CISA, CIA (USA), and ACS (Intermediate), along with a [Link]
Defence Technology Absorption Award (2013), both conferred by the from Vivekananda College. He has also pursued training in AI, data
Hon'ble Prime Minister of India. He also serves on several academic science, business analytics, valuation, and various accounting and
and institutional boards and has represented India on global programming tools. He was honored with the 1st Global
defence trade missions. Ambassador Award from ICAI by Shri Venkaiah Naidu, Hon'ble Vice
President of India, and served as Charter Chairman of ICAI's Bahrain
Overseas Centre. He is also a proud Lions Club member for over 25
years, having served as Club President.

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MEMBER / LM – 2728 MEMBER / LM – 2733

Mr. Yogesh Khairnar, [Link] Mr. Vaidhyanathan R. S., [Link]

Director Executive Director
Anticorrosion India Pvt. Ltd. Pondy Oxides & Chemicals Limited
Pune Chennai

A forward-thinking business leader, Mr. Yogesh Khairnar is currently Driving excellence in global metals trade and sustainable
serving as a Director – Sales & Marketing at Anticorrosion India Pvt. manufacturing, Mr. R. S. Vaidhyanathan is the Executive Director of
Ltd., Pune, he brings over 28 years of executive and senior-level Chennai-headquartered Pondy Oxides & Chemicals Ltd. (POCL),
experience across Engineering, Dairy, Power, Chemical, and one of India's leading Lead Metal Alloy Ingot manufacturers
Manufacturing sectors. He is responsible for strategic direction, supplying to major Battery OEMs domestically and internationally.
stakeholder engagement, and operational oversight, with a proven POCL also operates in copper recycling, Aluminium manufacturing,
track record in driving strategic growth, improving corporate and plastic recycling. An alumnus of Harvard Business School, USA,
governance, and fostering sustainable business practices within and IIM-Trichy, India, Mr. Vaidhyanathan began his career in Steel
complex organizational structures. Mr. Khairnar has elevated himself Marketing in Ajman, UAE, later working with a metal scrap recycling
through key positions in reputed organizations like Alfa Laval India firm in Sharjah. His entrepreneurial spirit led him to establish a scrap
Ltd., Voltas Ltd., IDMC Ltd., and HLE Glascoat Ltd., and is widely metal trading business, following which he joined Indicaa Group
recognized for his business achievements, collaborative leadership, Ltd., Dubai—the world's largest scrap metal trader. Over 23 years, he
high integrity, and commitment to continual professional rose to become Group Director - Procurement and Board Member,
development. A graduate Mechanical Engineer with a PG Diploma expanding Indicaa's footprint across the Middle East, Africa, Europe,
in Management from ICFAI Dehradun, he holds professional North America, and Asia. With business experience in over 50
memberships with ASME, AIChE, IIAR, AAR, and ISHRAE. He is also a countries, he brings vast expertise in international commodity
proud recipient of the Silver Medal in the Tata Business Excellence trading. At POCL, he focuses on Lead operations and investor
module. Dedicated to social causes, he has served as Additional relations. A PhD holder in Supply Chain Management from Dr. MGR
Secretary and Board Member of the Lions Club of Anand, University, Chennai, he is a recognized speaker in the Ferrous, Non-
contributing to various community initiatives and overseeing online Ferrous, and Steel industries. Personally, he is spiritually inclined and
reporting on the global portal in prescribed formats. passionate about Carnatic music and cricket.

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MEMBER / LM – 2736 MEMBER / LM – 2737

Mr. Kaushik Shah, [Link] Mr. Jagdish Kumar Kalra, [Link]

Chief Financial Officer Advisor - Business Development,
Brilliant Polymers Pvt. Ltd. Industrial Coatings Division
Mumbai Kansai Nerolac Paints Limited
Delhi

A visionary behind the numbers, Mr. Kaushik Shah is the Chief Driving business excellence with strategic foresight, Mr. Jagdish
Financial Officer at Brilliant Polymers Pvt. Ltd., a fast-growing Kumar Kalra, currently serves as Business Consultant and Advisor –
manufacturing company headquartered in Mumbai. Joining as the Business Development (ICD) at Kansai Nerolac Paints Ltd, where he
company's second employee, he has been a driving force in scaling has played a key role in positioning the company as a market leader
the business from its start-up roots to an impressive C900 Crore in the industrial coatings space. With over 40 years of extensive
turnover in just over a decade. With over 20 years of experience in experience in business management, sales & key account
corporate finance and strategic leadership, Mr. Shah has shaped the management, and business development across B2B and B2C
company's financial operations from the ground up. He has sectors, he brings deep strategic insight and leadership to every
successfully led three ERP implementations, including a full-scale initiative. Mr. Kalra has held prominent leadership positions
migration to SAP S/4HANA, enabling real-time financial insights and including AVP – Marketing & Business Development ICD and AVP &
smarter decision-making. His core competencies span working Head – Automotive Coatings Division, leading pan-India teams. He
capital management, fundraising, and governance. Before Brilliant has worked closely with Japanese collaborators, integrating global
Polymers, he held pivotal finance roles at Radio One and Hathway best practices while engaging with international and domestic Auto
Cable, where he managed multi-location finance teams and OEMs and diverse industrial segments, consistently driving
optimized revenue systems. A Chartered Accountant by innovation and value addition. He has successfully introduced new
qualification, he also holds certifications in Information Systems verticals such as coil coatings, functional powder coatings, and other
Audit, Forensic Accounting, and Business Finance from the Institute specialty solutions. Additionally, he played a pivotal role in ERP SAP
of Chartered Accountants of India. Known for his rare blend of implementation as the 'SD Module Team Lead' and contributed
financial expertise, technological acumen, and strategic foresight, he significantly to integration and change management initiatives. A
continues to champion operational excellence and long-term science graduate with an MBA and advanced diplomas in sales and
sustainable growth. management, he is a Master class-trained Director (IOD, 2024) and
remains actively involved in industry-driven forums promoting
automation and sustainable advancements in surface coating
technologies.

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MEMBER / LM – 2738 MEMBER / LM – 2739

Ms. Preeti Parameshwaran, [Link] Mr. Manat Singh, [Link]

Managing Director Vice President
Barclays Ace Pipeline Contracts Pvt. Ltd.
Mumbai Gurugram

Driving innovation in financial services with strategic foresight and Driving energy infrastructure with precision and purpose, Mr. Manat
operational excellence, Ms. Preeti Parameshwaran currently serves Singh serves as the Vice President – Operations at Ace Pipeline, a
as the Managing Director – New and Amended Product Approvals premier company specializing in pipeline construction for the oil &
(NAPA) Oversight at Barclays Global Services Group. With over 31 gas sector. He brings strategic leadership, engineering expertise,
years of experience across Credit Risk, Portfolio Management, and a global perspective to the forefront of the company's
Business Banking, Retail and Wealth Management, Ms. operations. [Link] began his career with Schlumberger, a global
Parameshwaran brings a powerful blend of strategic leadership and oilfield services leader, where he held key engineering and
hands-on execution. Prior to Barclays, she spent nearly 17 years at operational roles across Nigeria and the United States. This
Deutsche Bank, where she led several key initiatives, completed the experience provided him with deep exposure to best-in-class
Director Acceleration Program (including “Women Global Leaders” upstream practices, high-volume manufacturing operations, and
at London Business School), and received the Celebrating Success complex project execution under challenging field conditions. He
APAC Award 2019 for excellence in people engagement. Her team holds a Master's degree in Mechanical Engineering from the
won the Finance Asia Country Award 2022 for 'Most Innovative Use University of Michigan, a world-renowned institution recognized for
of Technology' and the DB India Excellence Award 2023 for its excellence in engineering innovation. His unique ability to
upgrading the Loan Origination System and enhancing Early combine technical acumen with practical execution enables him to
Warning Systems (EWS). She also spent a decade at Standard effectively drive large-scale infrastructure projects from concept to
Chartered Bank before launching her own consultancy and delivery. At Ace Pipeline, he oversees critical pipeline construction
qualifying as an IICA-certified independent director. An alumna of initiatives across India, ensuring strict adherence to technical
NMIMS with a Master's in Financial Management, she also holds a standards, safety protocols, and client requirements. His leadership
Bachelor's in Commerce from Mumbai University. She continues to is rooted in operational excellence, collaboration, and a commitment
drive impact through innovation, governance, and a people-first to continuous innovation. He plays a pivotal role in strengthening
approach to leadership. India's energy infrastructure, delivering long-term value to
stakeholders, and supporting the nation's evolving energy demands
with reliability and integrity.

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MEMBER / LM – 2741 MEMBER / LM – 2742

Mr. Nallajerla L S Murthy, [Link] Ms. Sugandhini Karunanidhi, [Link]

General Manager and Country Leader Program Manager
Greenwayhealth India Pvt. Ltd. Neophyte Technologies Pvt. Ltd
Bengaluru Bengaluru

Driving innovation at the intersection of technology and healthcare, Ms. Sugandhini Karunanidhi is a seasoned delivery leader with over
Mr. Nallajerla L S Murthy currently serves as the General Manager 24 years of experience across reputed MNCs, recognized for her
and Country Leader – Greenway Health India, where he leads a calm presence and ability to scale complex programs with clarity,
700+ member organization across product development, speed, and precision. Most recently serving as Chief of Staff at Intel,
technology, revenue cycle services, customer operations, IT, and she partnered closely with senior leadership to bridge strategic
enterprise functions. He plays a strategic role in shaping Greenway's planning with on-ground execution, delivering high-impact business
global delivery and innovation charter from India. With over 27 years transformation. An engineer by training, she began her career in the
of leadership experience across Healthcare IT and Aerospace, Mr. semiconductor industry after graduating in Computer Engineering
Murthy is known for delivering engineering excellence, digital from Bangalore University in 1999. Over the years, Ms. Karunanidhi
transformation, and scalable global operations in complex, has led cross-functional programs across software, hardware, ERP,
regulated industries. Prior to Greenway, he held senior leadership and data ecosystems, with a strong foundation in lean systems and
roles at Honeywell Aerospace, where he led transformative agile delivery. She is PMP® certified, holds a Senior Management
initiatives such as setting up Centers of Excellence, streamlining Program Certification from IIM Ahmedabad, and is currently
new product development, and driving significant reductions in cost pursuing certifications in Lean Six Sigma Black Belt, DevSecOps, and
and cycle time—maturing high-value innovation opportunities ICF Professional Certified Coaching (PCC).Her accomplishments
through business case-driven execution. He actively engages with include two U.S. patents, a division-wide quality award, and multiple
start-ups, incubators, and academia, mentoring early-stage founders, accolades for her delivery-focused leadership. She has successfully
conducting technical due diligence, and guiding ventures in tech architected modular PM systems for iterative development and
validation and go-to-market strategy. A certified Lean and Six Sigma consistently reduced cycle times across verticals. Inspired by the
expert, he is also a trained independent director (IICA) and an Sanskrit principle Sangachatvam ("move together"), Sugandhini
alumnus of IIM Bangalore's General Management Program, with blends strategic execution with leadership coaching to foster
global leadership credentials from Honeywell. Widely respected for performance, alignment, and growth within teams.
his execution excellence and people-first leadership, he is a catalyst
for innovation and sustainable growth.

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MEMBER / LM – 2743 MEMBER / LM – 2744

Mr. Rachakonda Ravindra Vidyadhar, [Link] Dr. Nalini Rajesh, [Link]

Operations Support and Excellence Manager Founder and Chief Executive Officer
National Energy Services Reunited Corp Unique Ventures
Saudi Arabia Chennai

Bringing strategic clarity to complex operations, Mr. Ravindra Blending purpose with passion, Dr. Nalini Rajesh is a dynamic HR
Vidyadhar Rachakonda is a seasoned executive with over 20 years leader, entrepreneur, and educator with over two decades of
of leadership experience across operations, supply chain, and experience. She is the Founder & CEO of Unique Ventures, an HR &
process excellence, primarily within the oilfield services and energy ESG consulting firm established in 2023. She also consults with
sectors. Mr. Ravindra has held key leadership roles at global Ananya – Women@Work, Hyderabad, and serves as Visiting Faculty
organizations such as Schlumberger (SLB) and National Energy for Executive MBA students at the University of Madras since
Services Reunited Corp. (NESR), where he led cross-functional February 2024. Dr. Rajesh has held senior HR leadership roles at TVS
teams, enhanced shared service efficiency, and drove digital Sundram Fasteners and the Sanmar Group, where she led policy
transformation initiatives aligned with strategic business objectives. deployment, daily work management, change management, D&I,
Beginning his career in plant engineering and maintenance, he has mentoring, HR automation, and Deming Award coordination. She
built a robust foundation that evolved into expertise in regulatory has implemented contemporary learning systems and trained over
compliance, logistics, and operational digitization. He holds dual 2,000 professionals. An IOD-Certified Director, she also holds
MBAs in Operations, Logistics, and Supply Chain Management, and credentials in MBTI, ICF-ACC Coaching, POSH, Six Sigma Green Belt,
is currently pursuing a Ph.D. in Oilfield Supply Chain Sustainability. Business Storytelling, and ISO Lead Auditing (Quality, Environment &
He is also certified in Quality Management Systems, Operational Safety). She is a life member of IOD, ISTD, NHRD, and an active
Excellence tools, and is proficient in advanced analytics and ERP member of MMA and the International Association of Facilitators.
platforms. Rooted in continuous learning and practical problem- She holds a PhD in Management Studies from the University of
solving, his leadership philosophy emphasizes systems thinking and Madras, an MBA from PSG College of Technology, and a BA in
people-centric growth. Now as a proud member of the Institute of Economics. An avid reader, cycling enthusiast, a multilingual, and
Directors, he is eager to engage in thought leadership around widely travelled, she is also a Graded All India Radio artiste and
governance, innovation, and enterprise resilience, while learning passionate about CSR initiatives.
from the collective insights of the IOD community.

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MEMBER / LM – 2745 MEMBER / LM – 2746

Mr. Neelaj Sengupta, [Link] Mr. Venkatesh Krishnaswamy, [Link]

Former Vice President and Head - SCM Sustainability Independent Consultant
& New Initiatives Accenture
Larsen & Toubro Limited Thailand
Mumbai

Architecting transformation across industries and borders, Navigating the intersection of finance, technology, and governance,
Mr. Neelaj Sengupta has held senior leadership roles in the Mr. Venkatesh Krishnaswamy is a seasoned financial services
engineering and EPC sector, where he brings four decades of professional with nearly 25 years of global experience, primarily in
diverse experience spanning business development, international the banking sector. He has successfully led and advised on complex,
operations, factory management, supply chain & logistics, and long-term digital transformation programs across, ASEAN countries,
ESG/sustainability. With a proven track record in both India and Europe, US and Mauritius. Notably, he has collaborated directly with
overseas, Mr. Sengupta has fostered enduring relationships with Chief Technology Officers on five major transformation initiatives,
global customers, suppliers, and principals, while forging strategic and served as a strategic advisor to the Board of the State Bank of
alliances with OEMs, JV partners, and technology providers. He has Mauritius during a critical technology overhaul—underscoring his
led enterprise-wide consolidated procurement initiatives, secured governance acumen and foresight. Mr. Krishnaswamy's core
high-value contracts and frame agreements, and built resilient strength lies in partnering with leadership to drive innovation, solve
supply chain frameworks that ensured continuity in challenging mission-critical challenges, and ensure technology alignment with
environments. His leadership was instrumental in executing large- business goals. As a qualified Chartered Accountant and Company
scale logistics operations, launching intelligent procurement Secretary, he brings a strong foundation in finance, compliance, and
platforms, B2B systems, and delivering the Integrated Logistics corporate governance. With a keen interest in contributing to Board-
Management System (ILMS)—a flagship project in the company's level leadership in India, he is passionate about leveraging emerging
digital transformation. A pioneer in embedding ESG principles into technologies such as AI to reimagine business models, enhance
supply chain systems, Mr. Sengupta has championed initiatives such operational efficiencies, and build future-ready organizations.
as the Sustainable Supply Chain Policy, Supplier Code of Conduct,
automated Grievance Redressal, Supplier Sustainability
Assessment, and Extended Producer Responsibility (EPR), backed
by advanced digital and AI tools. He has also represented the EPC
sector in national dialogues with key ministries—MoRTH, MoEFCC,
Ministry of Power—and industry bodies like CII and FICCI.

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MEMBER / LM – 2747 MEMBER / LM – 2748

Mr. Ranish Haran, [Link] Mr. John Robert, [Link]

Director Strategic Security and Risk Advisor
Exxelo Business Consulting Pvt. Ltd. VFS Global
Chennai UAE

Driving transformation at the intersection of purpose, performance, At the intersection of resilience, strategy, and global security stands
and people, Mr. Ranish Haran is a dynamic leader with over 11 years Mr. John Robert — a trusted advisor and decorated leader shaping
of multifaceted experience across entrepreneurship, finance, boardroom decisions and safeguarding enterprises worldwide.
engineering, consulting, sales, and training. He currently leads Currently serving as a Strategic Security and Risk Advisor in Dubai,
project sales in his family-run electrical business, spearheading its Mr. Robert brings over 30 years of cross-sector experience in
expansion across infrastructure and industrial sectors. Concurrently, enterprise risk, operational resilience, and governance. He has led
he serves as Head of Finance at a manufacturing firm and is the global security operations across 160 countries, overseeing Visa
Founder of Exxelo Business Consulting Pvt. Ltd., which specializes in Application Centers in 500 cities and managing 200+ professionals.
consulting, recruitment, and leadership development—enabling His executive leadership spans major organizations like VFS Global
organizations to scale through strategic people solutions. He holds (a Blackstone portfolio company), Nokia, Wipro, and IOB, protecting
an engineering degree and an MBA in Finance, and is a registered assets worth billions and ensuring workforce safety. A former Indian
independent director committed to advancing excellence in Army Captain, he has architected AI-driven security systems and
corporate governance and contributing meaningfully to boardroom directed crisis responses in volatile, high-risk environments. He holds
leadership. Beyond his professional pursuits, he is a committed elite certifications in security (CPP, PCI, PSP), fraud examination
fitness enthusiast and marathoner, having completed the full 42 km (CFE), and business continuity (CBCP), with deep expertise in risk
distance. As Race Director of the Madras Inner Strength Half governance, OSINT, and data analytics. A certified Executive Coach,
Marathon and Trustee of the Inner Strength Trust, he champions he champions ethical leadership and future-ready governance. He
wellness, inclusion, and support for children with cerebral palsy and authored Going Beyond Boundaries, a strategic guide on security
multiple disabilities. Mr. Haran exemplifies resilience and leadership. He holds an MPhil in Defense Strategy and is pursuing a
vision—delivering impact across boardrooms and communities DBA from the Swiss School of Management. His recent accolades
alike. include the ISJ Leaders in Security Award 2024, India OSPAs, and
Business World Security Global Achievement Award.

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 MEMBERS

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JULY 2025

MEMBER / LM – 2749 MEMBER / LM – 2750

Ms. Preity Gupta, [Link] Ms. Vijayalakshmi S, [Link]

Lead Security Advisor Director
Wipro Conduit Worldwide Trading (India) Pvt. Ltd.
Gurugram (Woodpecker Furniture)
Chennai

Driving the future of secure digital transformation, Ms. Preity Gupta A purposeful leader with a passion for impact and transformation,
serves as an Independent Director, Global Security Board Advisor at Ms. Vijayalakshmi S. is an accomplished entrepreneur, leadership
EC-Council, Executive Board Member at Bharatiya Vitta Salahkar consultant, and Independent Director with over 25 years of
Samiti and Enterprise AI Security Architect and Advisor at Wipro. experience. She is the Founder of Woodpecker Furniture, a design-
With over two decades of expertise in multi-cloud security, AI led enterprise that crafts elegant, functional living spaces with style
governance, and risk optimization, she advises global boards and C- and soul. Ms. Vijayalakshmi S also leads EXXELO Business
suites on cyber security strategy, compliance, and cost efficiency Consulting, now in its 10th year, which partners with organizations to
across Azure, AWS, Oracle, and GCP environments. Formerly with drive leadership development, business transformation, and talent
Accenture, HCL, and other global technology leaders, Ms. Gupta has strategy—unlocking growth through clarity, capability, and culture.
driven large-scale digital transformation initiatives. At Wipro, she has As an Independent Director, she brings deep expertise in
led high-impact security programs, delivering a 35% reduction in governance, business ethics, and stakeholder alignment, with cross-
compliance costs and a 25% improvement in project success. Her sector experience that enables meaningful contributions to
deep domain expertise spans ISO 27001, GDPR, NIST, DORA, AI strategic decision-making and long-term value creation. Her
Governance, and Zero Trust Architectures. As the founder of Preity commitment to social impact is evident in her role as Trustee of the
Gupta SecureBiz, she pioneers the Secure First Business Inner Strength Trust, supporting children with cerebral palsy through
revolution—empowering organizations to reduce risk while driving inclusive development. She also founded UNIS (Unleash Your Inner
operational excellence. She holds dual master's degrees (MCA, Strength), a wellness and running community fostering physical and
MCom) and top-tier certifications including CISM, AZ-500, SC-100, emotional well-being. A keen observer of life and leadership, she is
AWS SAA-C02, and architect credentials from both Accenture and currently authoring her debut book, Sunrise Storyteller, inspired by
Wipro. Preity is also a bestselling author (Cost Savvy Secure Cloud), her reflective morning walks. She believes that consistency, silence,
Speaker at many Global forums and a 2024 recipient of the and service are the cornerstones of impactful leadership.
International Icon, Powerful Women, and Aspiring CXO Awards.

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 MEMBERS

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IOD NEW Senior Executives MEMBERSHIP
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INSTITUTIONAL LIFE MEMBER

WhyNot Advertising Pvt. Ltd., Mumbai

Ms. Khushi Joshi Mr. Vinith Nair

Executive Director Executive Director

INSTITUTIONAL MEMBER

Poovayya & Co., Bengaluru

Mrs. Sanjanthi Sajan Mr. Dharmendra Chatur

Managing Partner Partner

Gulbrandsen Chemicals Pvt. Ltd., Vadodara

Mr. Narendra Varma Mr. Chinmay Shah

Managing Director Head – Environmental, Health & Safety and
Factory Manager

Mr. Abhijit Kadam Mr. Satya Prakash Tiwari

Unit Manager Unit Manager

Resurgent India Limited, Mumbai

Mr. Jyoti Prakash Gadia Mr. Krishan Kumar Gupta

Managing Director Director

Mr. Sonal Mehta

Senior Vice President

KIOCL Limited, Bengaluru

Mr. Ganti Venkat Kiran Mr. Binay Krushna Mahapatra

Chairman-cum-Managing Director Director - Commercial

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LIFE MEMBERS
Mr. Nakul Malik, [Link] Mr. Sundeep Gupta, [Link] Mr. Nallajerla L S Murthy, [Link]
Director - Regional Business Manager, MenaT Founder and Chief Mentor General Manager and Country Leader
HSBC Bank Middle East Limited Gupta Tutorials and M Learning India Greenwayhealth India Pvt. Ltd.
UAE Indore Bengaluru

Ms. Sugandhini Karunanidhi, [Link] Mr. Rachakonda Ravindra Vidyadhar, [Link] Dr. Nalini Rajesh, [Link]
Program Manager Operations Support and Excellence Manager Founder and Chief Executive Officer
Neophyte Technologies Pvt. Ltd. National Energy Services Reunited Corp. Unique Ventures
Bengaluru Saudi Arabia Chennai

Mr. Neelaj Sengupta, [Link] Mr. Venkatesh Krishnaswamy, [Link] Mr. Ranish Haran, [Link]
Former Vice President and Head - Independent Consultant Director
SCM Sustainability & New Initiatives Accenture Exxelo Business Consulting Pvt. Ltd.
Larsen & Toubro Limited Thailand Chennai
Mumbai

Mr. John Robert, [Link] Ms. Preity Gupta, [Link] Ms. Vijayalakshmi S, [Link]
Strategic Security and Risk Advisor Lead Security Advisor Director
VFS Global Wipro Conduit Worldwide Trading (India) Pvt. Ltd.
UAE Gurugram (Woodpecker Furniture)
Chennai

Mr. Nishank Bhargava, [Link] Mr. Rakesh Kumar Agarwal, [Link]

CFO and Regional Finance Director - Former Chief Engineer
India and China Uttar Pradesh Jal Nigam
Teva Pharm India Pvt. Ltd. Lucknow
Bengaluru

MEMBERS
Mr. Ashwin Kumar Rathod, [Link] Dr. Purushottam Bung, [Link] Dr. Apurva Pradeep Joshi, [Link]
Group Managing Director Professor and Director Independent Director
Flosil Group RV Institute of Management Quick Heal Technologies Limited
Chennai Bengaluru Pune

Mr. Kshitij Aditeya Singh, [Link] Mr. VSN Raju, [Link] Mr. K V S Vithal, [Link]
Managing Director Company Secretary Chief Financial Officer
Knowledge Advisory Services and Nava Limited Nava Limited
Consultancy Pvt. Ltd. Hyderabad Hyderabad
Lucknow

Dr. Shaik Mohiuddin, [Link] Mr. Sandeep Seth, [Link] Mr. Rehman Khan, [Link]
Chief Quality Officer Former Director Senior Release Manager
Al Dhafra Hospitals Pfizer India Ooredoo Group
UAE Mumbai Qatar

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DURING THE MONTH OF JULY 2025

MEMBERS
Mr. Dhireshwar Mishra, [Link] Mr. Maulik Shah, [Link] Mr. Rajdeep Bhattacharya, [Link]
Associate Director Director Chief Project Officer
Ernst & Young Crony Electronics Pvt. Ltd. Leap India Foods & Logistics Limited
Hyderabad Mumbai Hyderabad

Mr. R A Suresh, [Link] Mr. Anup Sankar Bhattacharya, [Link] Mr. S Kumar, [Link]
Deputy General Manager Independent Director Vice President - Risk Management &
Bharat Electronics Limited Canfin Homes Limited Compliance
Bengaluru Bengaluru Yamaha Motor India Pvt. Ltd.
Chennai

Mr. Gaurav Gupta, [Link] Mr. Commander R Haridas, [Link] Mr. Ganesh S, [Link]
Partner Additional General Manager Director Solution Architecture
GGPS and Associates Bharat Electronics Limited Transunion LLP
Delhi Bengaluru Chennai

Mr. Choodamani N K, [Link] Ms. Reeba Manoj, [Link] Mr. Madhu, [Link]
Asst. Vice President - Finance Associate Vice President - Human Resources Deputy Manager - Electrical
ABB India Limited Exeevo Petrofac Limited
Bengaluru Bengaluru Chennai

Mr. P. K. Ranganathan, [Link] Mr. Sundara Nagarajan, [Link] Mr. P. Umesh, [Link]
Partner Managing Director Consultant - Liability Insurance
Sharp & Stellar Innovation ScaleUp Advisors Pvt. Ltd. Hyderabad
Bengaluru Bengaluru

Mr. Mukesh Rustogi, [Link] Dr. Vinod Jyothikumar, [Link] Mr. Ananthanarayanan T, [Link]
Managing Director Consultant Management Consultant
V. R. Power Equipments (P) Ltd. Bengaluru Agrata Consulting
Jaipur Bengaluru

Mr. Rajesh Sai Iyer, [Link] Mr. Balasundaram Venkatesan, [Link] Mr. Ranganath N Krishna, [Link]
Cost Accountant Board Member Director
Chennai Frost & Sullivan (India) Cognizant Foundation
Chennai Chennai

Mr. Chandrasekaran Narayanan, [Link] Mr. Anil Kumar Anand, [Link] Mr. Narayana Upadhyaya M., [Link]
General Manager - Process Excellence Sr. Director Clinical Research Managing Director
Clarion Group of Companies Teva Pharmaceuticals Aditi Organic Certifications Pvt. Ltd.
Chennai Bengaluru Bengaluru

Mr. Rajnish Magan, [Link] Mr. Ajay Singh, [Link] Mr. Sanjay Parikh, [Link]
Founder and Advisor Chief Executive Officer Former Vice President
RM Advisory Services PSA International Paramounts Computer System
Gurgaon Mumbai Qatar

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 MEMBERS

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DURING THE MONTH OF JULY 2025

MEMBERS
Mr. Vimal Kumar Ambat, [Link] Mr. Prashant Parida, [Link] Ms. Anjubala Purushottam, [Link]
Chief Executive Officer Principal Venture Partner Executive Director
Omnispay LLC Yugma PowerComm Venture LIC of India
UAE Gurugram Mumbai

Mr. Rajib Bose, [Link] Mr. Ramakrishnan Subramaniam, [Link] Mr. Gagandeep Singh Chawla, [Link]
Associate Partner Independent Coach Former Head - Hydrogen Business
IBM India Pvt. Ltd. Mumbai Shell India Markets Pvt. Ltd.
Gurgaon Bengaluru

Mr. Atul Gopalkrishna Juvle, [Link] Mr. S Bhanu Kumar, [Link] Mr. Umesh Mehta, [Link]
Managing Partner Founder Director Independent Director
Ap2 Legal Consulting LLP ARRA Associates 3i Infotech Ltd.
Mumbai Chennai Mumbai

Mr. Joseph Rozario, [Link] Mr. T. H. Gopalakrishnan, [Link] Mr. Ganesh S, [Link]
Director Managing Director Director Solution Architecture
Metal Scope (India) Pvt. Ltd. Somic ZF Components Pvt. Ltd. Transunion LLP
Puducherry Gurgaon Chennai

Mr. Vikram Haryani, [Link] Mr. Rajesh Rastogi, [Link] Mr. N. Lakshmi Narayanan, [Link]
Vice President Senior Practice Lead Consultant
Gallagher Insurance Brokers Pvt. Ltd. Infosys BPM Limited Bengaluru
Gurugram Gurugram

Mr. Bhushan B. Bobde, [Link] Mr. Umesh Sampat Jadhav, [Link] Mr. Prashant Kisanrao Pimpalekar, [Link]
Director - Sales, Marketing & Services Human Resource Director - Asia Pacific Founder & Director
Calderys India Refractories Limited Calderys India Refractories Limited Magnum Primus Solutions Pvt. Ltd.
Nagpur Nagpur Pune

Ms. Reena Sharma, [Link] Dr. Sudin Baraokar, [Link] Ms. Amita Sachin Nene, [Link]
Managing Director - India Founder Independent Consultant
Techwave Aionthefly Technologies Pvt. Ltd. Unique Valuers & Techno Financial
Hyderabad Pune Consultants LLP
Pune

Mr. Ankit Jain, [Link] Mr. Uday Madhusudan Subhedar, [Link] Mr. Surendra P., [Link]
Independent Consultant Independent Director Director - HRM, Safety, Sports,
Pune Delkart Industries Limited Welfare & Quality Assurance
Pune Kerala State Electricity Board
Thiruvananthapuram

Mr. Athale Ketan Charudatta, [Link] Mr. Nilesh Wasudeorao Ghorad, [Link] Mr. Vikramsinha J. Mohite, [Link]
Designated Partner Executive Director Proprietor
Solasys Technologies LLP Filtrum Fibretechnologies. Pvt. Ltd. VML Logistics Consultant & Advisors
Pune Pune Pune

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DURING THE MONTH OF JULY 2025

MEMBERS
Mr. Vishal Vilas Bhalerao, [Link] Mr. Sanket Santosh Kulkarni, [Link] Mr. Oniell Jagdish Shah, [Link]
Independent Consultant Strategic Customer Engagement General Manager - Research & Development
Thoughtworks Technologies India Pvt. Ltd. Amazon Web Services and Business Development
Pune Pune Webasto Roofsystems
Pune

Ms. Aditi Mukherjee, [Link] Mr. Ravi Prem Nath, [Link] Ms. Riya Ashish Arora, [Link]
Head - Accounting, Reporting & Control Independent Consultant Managing Director
BP Business Solutions India Pvt. Ltd. Pune Inspirational Group
Pune Pune

Mr. Shirish Madhukar Kulkarni, [Link] Ms. Surabhi Roy, [Link] Mr. Vishal Mahesh Monga, [Link]
Founder & Managing Director Vice President - Risk and Control Independent Consultant
STROTA ConsulTech Pvt. Ltd. Deutsche Bank Mumbai
Pune Pune

Ms. Rujuta Prakash Jagtap, [Link] Mr. Nandkishor Rushi Bande, [Link] Mr. Pankaj Kapoor, [Link]
Executive Director Director Managing Partner
SAJ Test Plant Pvt. Ltd. JIEM India Pvt. Ltd. Quadraant Legal
Pune Pune Mumbai

Ms. Aarthy Madanagopal, [Link] Mr. Ramesh Padmanabh Mayurnath, [Link] Mr. Jayesh Mohanlal Tanna, [Link]
Lawyer Independent Consultant Freelance Instrumentation Engineer
Chennai Coimbatore Surat

Mr. Javed Saifuddin Nazim, [Link] Mr. Sanjay Koul, [Link] Ms. Bharti Mishra Nath, [Link]
Director of Finance Chief Marketing Officer Contributing Editor
RAK International Corporate Centre Mankind Pharma Limited NDTV
Dubai New Delhi Ahmedabad

Mr. Ninad Vijay Kanade, [Link] Mr. Bharath B., [Link] Ms. Ruchika Malhotra Bhatiani, [Link]
Independent Consultant General Manager Associate Vice President -
Pune Continental Automotive Components Technical Innovation
India Pvt. Ltd. Pernod Ricard India Pvt. Ltd.
Bengaluru Gurugram

Mr. Nishant Dhiman, [Link] Mr. Chellapandian M., [Link] Mr. Sanjay Bhalchandra Moralwar, [Link]
Plant Manager Independent Consultant Head - Information Technology
Eaton Industrial Products Pvt. Ltd. Chennai Senores Pharmaceuticals
Bengaluru Ahmedabad

Ms. Dimple Raisurana Kapur, [Link] Mr. Arivarasu Selvaraj, [Link] Mr. Himanshu Khanna, [Link]
Corporate Reputation Strategist Chief Digital Officer Chief Marketing Officer
Mumbai Adani Group Raymond Lifestyle Limited
Bengaluru Thane

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 MEMBERS

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DURING THE MONTH OF JULY 2025

MEMBERS
Mr. Shoeb Ansari, [Link] Ms. Kiran Kolar Raghupathy, [Link] Ms. Shilpi Singh, [Link]
Executive Director – Director - Customer Success Deputy General Manager
Senior Lead Process Engineer (India/South Asia) Bharti Airtel Limited
Wells Fargo Solutions India IBM India Pvt. Ltd. Bengaluru
Hyderabad Bengaluru

Ms. Neelima, [Link] Mr. Rajeev Pai, [Link] Ms. Chetana Kumar, [Link]
Founder Director Head - Corporate Social Responsibility &
PurposeLadder LLP Deloitte & Touche (M.E.) LLP (DME) Special Projects
Gurugram Dubai Fractal Analytics
Mumbai

Ms. Deepti Sharma, [Link] Mr. Govindaraj G.S., [Link] Mr. D Phani Madhav Prabhakar, [Link]
Director Head - Elgi Business System Chief Business Development Officer
Finncare India Consulting LLP ELGi Equipments Limited GASPLUS
Vadodara Coimbatore Hyderabad

Mr. Deep Kumar Mendiratta, [Link]

Head - Internal Audit
Management Consulting
Gurugram

Institute of Directors

JOIN IOD

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 Karnataka Rural
Infrastructure Development Ltd.

Sri. Siddaramaiah Sri. Priyank Kharge Sri B. K. Sangameshwar

Hon'ble Chief Minister Hon'ble Minister for RDPR Hon'ble MLA & Chairman
Govt. of Karnataka and IT & BT KRIDL
Govt. of Karnataka
About KRIDL
Karnataka Rural Infrastructure Development Limited (KRIDL) is premier Public Sector Undertaking under Rural
Development and Panchayat Raj Department, Govt of Karnataka in civil construction especially creation of
infrastructure in the rural areas of state.
KRIDL is involved in creation of assets with highly dedicated work force in the State for the last 50 years.
KRIDL has got project offices all over Karnataka State and implements various projects under the State
Government.
The organization has capacity to take up any kind of work anywhere in the state and is declared as a Designated
Agency of the State Government for the purpose of departmental execution of civil engineering works.

Committed to deliver projects in time with good quality.

Major Projects:
• Development of roads and infrastructure under Micro and Macro scheme of Kalyana Karnataka Region
Development Board (KKRDB)
• Construction of Community Toilets in districts of KKRDB
• Development of Roads under Chief Minister Relief Fund Schemes (5105)
• Development of Roads under Chief Minister Special Grants, SCP-TSP, Flood, Non Flood schemes (5054)•
• Construction of Halli Sante Market for Rural Development and Panchayat Raj Department
• Artificial reef projects and Coastal connecting roads development for Fisheries Department•
• Development works under CSR funds of Karnataka State Minerals Corporation (KSMC)
• Development of Infrastructure and development of Minority colonies for Minority Welfare Department
• Repair and Upgradation of Residential Schools and Hostels of Backward Classes Welfare Department
• Construction of Veterinary Hospitals and Dispensary for the Department of Animal Husbandry
& Veterinary Services
• Construction of Raita Samparka Kendra and Godowns for Agriculture Department
• Construction of Material Recovery Facilities for Rural Drinking Water and Sanitation Department

Sri. Sameer Shukla IAS Sri Basavaraju KAS

Secretary to Government Managing Director
RDPR Dept, Govt of Karnataka KRIDL

Grameenabhiruddi Bhavana, Anand Rao Circle, Bangalore – 560 009

Phone: 080-22879900 Email Id: md@[Link] www. [Link]
 MASTERCLASS FOR DIRECTORS

Welcome NEW IOD ALUMNI

Successfully Conducted Training Programmes
As Updated in July 2025

372 Batches 121 Batches 22 Batches 2 Batches 7 Batches 1 Batch 525 Batches
Open House In House Orientation Masterclass Masterclass Boards Total
Masterclass for Masterclass for Programme for ID’s for Startup for Directors Preparedness
Directors Directors Proficiency Test Professionals on ESG Towards Emerging
Technologies

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DURING THE MONTH OF

JULY 2025
 TRAINING

PARTICIPANTS
TM
FOR DIRECTORSHIP
JULY 2025 MASTERCLASS FOR DIRECTORS

Masterclass for Directors held on

July 11, 12 & 13, 2025 Batch No. 371

PUNE

Mr. Bhushan B. Bobde Mr. Umesh Sampat Jadhav Mr. Prashant Kisanrao Pimpalekar
Director - Sales, Marketing & Services Human Resource Director - Asia Pacific Founder & Director
Calderys India Refractories Ltd. Calderys India Refractories Ltd. Magnum Primus Solutions Pvt. Ltd.
Nagpur Nagpur Pune

Ms. Reena Sharma Dr. Sudin Baraokar Ms. Amita Sachin Nene
Managing Director - India Founder Human Resource Management Advisor
Techwave Aionthefly Technologies Pvt. Ltd. Unique Valuers & Techno Financial
Hyderabad Pune Consultants LLP
Pune

Mr. Ankit Jain Mr. Uday Madhusudan Subhedar Mr. Surendra P.

Independent Consultant Independent Director Director - HRM, Safety, Sports,
Pune Delkart Industries Ltd. Welfare & Quality Assurance
Pune Kerala State Electricity Board
Thiruvananthapuram

Mr. Athale Ketan Charudatta Mr. Nilesh Wasudeorao Ghorad Mr. Vikramsinha J. Mohite
Designated Partner Executive Director Proprietor
Solasys Technologies LLP Filtrum Fibretechnologies. Pvt. Ltd. VML Logistics Consultant & Advisors
Pune Pune Pune

Mr. Vishal Vilas Bhalerao Ms. Sudhalakshmi Narasimhan Mr. Sanket Santosh Kulkarni
Independent Consultant Business Development Manager Strategic Customer Engagement
Thoughtworks Technologies India Pvt. Ltd. Cummins India Ltd. Amazon Web Services
Pune Chennai Pune

Mr. Oniell Jagdish Shah Ms. Aditi Mukherjee Mr. Ravi Prem Nath
General Manager - Research & Development Head - Accounting, Reporting & Control Independent Consultant
and Business Development BP Business Solutions India Pvt. Ltd. Pune
Webasto Roofsystems Pune
Pune

Ms. Riya Ashish Arora Mr. Shirish Madhukar Kulkarni Mr. Sachin Arun Mahajan
Managing Director Founder & Managing Director Specialist - Health, Safety and Environment
Inspirational Group STROTA ConsulTech Pvt. Ltd. Penspen International UK Ltd.
Pune Pune Pune

Ms. Surabhi Roy Mr. Vishal Mahesh Monga Ms. Rujuta Prakash Jagtap
Vice President - Risk and Control Independent Consultant Executive Director
Deutsche Bank Mumbai SAJ Test Plant Pvt. Ltd.
Pune Pune

Mr. Nandkishor Rushi Bande

Director
JIEM India Pvt. Ltd.
Pune

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 TRAINING

PARTICIPANTS
TM
FOR DIRECTORSHIP
JULY 2025 MASTERCLASS FOR DIRECTORS

Masterclass for Directors held on

July 19, 20 & 26, 27 2025 Batch No. 372

VIRTUAL
CLASSROOM

Mr. Pankaj Kapoor Ms. Aarthy Madanagopal Mr. Ramesh Padmanabh Mayurnath
Managing Partner Lawyer Independent Consultant
Quadraant Legal Chennai Coimbatore
Mumbai

Mr. Jayesh Mohanlal Tanna Mr. Javed Saifuddin Nazim Mr. Sanjay Koul
Independent Consultant - Director of Finance Chief Marketing Officer
Freelance Instrumentation Engineer RAK International Corporate Centre Mankind Pharma Ltd.
Surat Dubai New Delhi

Ms. Bharti Mishra Nath Dr. Ashima Bhatia Mr. Ninad Vijay Kanade
Contributing Editor Global Head Clinical Development Independent Consultant
NDTV Novartis Pune
Ahmedabad Hyderabad

Mr. Bharath B. Ms. Ruchika Malhotra Bhatiani Mr. Nishant Dhiman

General Manager Associate Vice President - Plant Manager
Continental Automotive Components Technical Innovation Eaton Industrial Products Pvt. Ltd.
India Pvt. Ltd. Pernod Ricard India Bengaluru
Bengaluru Gurgaon

Mr. Chellapandian M. Mr. Sanjay Bhalchandra Moralwar Ms. Dimple Raisurana Kapur
Independent Consultant Head - Information Technology Independent Consultant -
Chennai Senores Pharmaceuticals Corporate Reputation Strategist
Ahmedabad Mumbai

Mr. Arivarasu Selvaraj Mr. Himanshu Khanna Mr. Shoeb Ansari

Chief Digital Officer Chief Marketing Officer Executive Director –
Adani Group Raymond Lifestyle Ltd. Senior Lead Process Engineer
Bengaluru Thane Wells Fargo Solutions India
Hyderabad

Ms. Kiran Kolar Raghupathy Ms. Shilpi Singh Ms. Neelima

Director - Customer Success - Deputy General Manager - Human Resources Founder
India/South Asia Bharti Airtel Ltd. PurposeLadder LLP
IBM India Pvt. Ltd. Bengaluru Gurgaon
Bengaluru

Mr. Rajeev Pai

Director
Deloitte & Touche (M.E.) LLP (DME)
Dubai

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 TRAINING

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Hummingbird Teksystems Tata Projects Ltd. Ernst & Young LLP

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 BOOK REVIEW

SHE STORMS
THE NORMS
Author: Anisha Motwani & Priyadarshini Narendra

Price: INR 395/-

No. of Pages: 320

Publisher: Rupa Publications India

Through a collection of 17 insightful case studies, “She

Storms the Norms” challenges conventional thinking and
celebrates the spirit of women who dared to defy the status
quo to create lasting impact. Anisha Motwani Priyadarshini Narendra
The book profiles a diverse range of women in businesses,
spanning from start-ups to legacy giants, who have
rewritten the rules of their industries. Each chapter talks
about how grit, empathy, and audacious thinking can drive ABOUT THE AUTHOR
transformation in the most unexpected ways. The writing
style is a fine balance between analytical depth and Anisha Motwani is a dynamic business leader
narrative flow, making the book not just informative but also and Managing Director of StN Ventures. Author
deeply engaging. of the national bestseller “Storm the Norm”, she is
also a sought-after speaker, blogger, podcaster,
What elevates “She Storms the Norms” beyond a standard
and serves as an advisor and independent
business book is its underlying theme of purpose-driven
director on several corporate boards. She was
change. Motwani and Narendra go beyond celebrating
named one of Business Today's '50 Most
success stories; they emphasize the significance of core
Powerful Women in Indian Business' for three
values, a consumer-first approach, and a strong sense of
consecutive years.
societal purpose.
Priyadarshini Narendra is a seasoned expert in
Who is it for?
marketing, communications, and strategy, with
“She Storms the Norms” is a powerful guide for anyone nearly 30 years of experience across top
seeking to break barriers, be it entrepreneurs aiming to organizations, including Lintas, Kantar, and the
create impact, corporate leaders navigating change, or CK Birla Group. A TEDx speaker and passionate
professionals rethinking their roles in a shifting world. It advocate for women in the workplace, she now
encourages readers to move beyond comfort zones and consults on brand strategy and consumer
engage with challenges as opportunities for reinvention. insights.
The authors make this book a standout in the genre of
Business Literature.

AUGUST 2025 I DIRECTOR TODAY

© Institute of Directors, India I [Link]
131
 1. What is the purpose of MCA's proposal to expand fast-track mergers
under Section 233?
a) To increase corporate taxes
b) To ease business restructuring by including more companies
c) To ban mergers altogether
d) To introduce stricter approval processes
2. How has SEBI integrated with DigiLocker for nominee asset transfers?
a) To provide digital access to investment details for easier claims by
nominees
b) To freeze all investor accounts
c) To replace physical share certificates entirely
d) To block nominee access to assets
3. What new measure has SEBI introduced to curb insider trading
violations?
a) Banning all family members from trading
b) Extending PAN freeze to immediate family members of offenders
c) Increasing penalties only for the primary violator
TEST YOUR KNOWLEDGE BY ANSWERING THE
FOLLOWING QUESTIONS
KNOWLEDGE CORNER

d) Allowing unrestricted trading for violators' relatives

4. What is the key change in SEBI's new internal audit guidelines for MIIs?
a) Eliminating audits altogether
b) Mandating annual internal audits split into three functional areas
c) Reducing audit frequency to once every five years
d) Allowing self-audits without external checks
5. What restriction did SEBI impose on audit committees of MIIs?
a) Allowing only executive directors to be members
b) Barring executive directors from audit committees
c) Removing independence requirements
d) Allowing only non-independent members
6. What exemption has MCA proposed for IFSCA-registered finance
companies under Section 186?
a) Stricter lending restrictions
b) Exemption from Section 186 restrictions to facilitate easier lending &
guarantees in IFSCs
c) Mandatory approval from RBI for all loans
d) Complete ban on lending activities
7. What does SEBI's ESG debt securities framework mandate?
a) Only post-issue disclosures
b) Pre-issue, continuous disclosures, and independent reviews
c) No disclosure requirements
d) Only verbal assurances from issuers
8. What is required for hiring/removal of Key Management Personnel (KMPs)
in MIIs as per SEBI's new rules?
a) No regulatory approval needed
b) Cooling-off periods, public disclosures, and prior regulatory approval
c) Immediate hiring without background checks
d) Only internal approvals required
9. Till when has SEBI extended the exemption for physical delivery of
financial statements at AGMs?
a) March 31, 2025
b) June 30, 2025
c) September 30, 2025
d) Indefinitely
10. What change did MCA introduce in Form CRL-1?
a) Removing subsidiary layering restrictions completely
b) Enhancing clarity on subsidiary layering restrictions and reporting
c) Making subsidiary disclosures optional
d) Reducing the number of permitted layers

ANSWERS:
The answers are given on page 142 of the Director Today
 LATEST FROM
THE REGULATOR
• Cybersecurity Norms Reiterated with June 30 Deadline
SEBI reaffirmed updated cybersecurity norms, emphasizing
categorization, mandatory HSMs for larger entities, and risk-
based controls.
• MCA Proposes Section 186 Relief for IFSCA-Registered
Finance Companies
MCA aims to exempt IFSCA-registered finance firms from
Section 186 restrictions to support easier lending and
Quarterly Regulatory Round-Up: April – June 2025 guarantees in IFSCs.

• MCA Proposes Expansion of Fast-Track Mergers

1. MCA Notifies Revised Form CRL-1 to Enhance Clarity on
The Ministry of Corporate Affairs proposed widening Section
Subsidiary Layering Restrictions
233 to include more companies under fast-track mergers,
aiming to ease business restructuring. MCA has notified an amendment to the Companies (Restriction
on number of layers) Rules, 2017 to bring better clarity and
• SEBI Partners with DigiLocker for Nominee Asset Transfers reporting structure regarding the restriction on the number of
SEBI integrated with DigiLocker to enable digital access to layers of subsidiaries a company may have.
investment details, helping nominees claim assets more • Amendment Notified – Companies (Restriction on number of
efficiently after an investor's death. layers) Amendment Rules, 2025
• SEBI Extends PAN Freeze to Family of Insider Trading Offenders • Effective Date – July 14, 2025
SEBI now applies trading restrictions to violators' immediate • Key Change – Substitution of Form CRL-1 in the Annexure of
kin to curb indirect use of insider information. the 2017 Rules
• SEBI Issues New Internal Audit Guidelines for MIIs • Purpose – To streamline disclosures and improve regulatory
oversight on corporate layering
SEBI mandated annual internal audits for Market Infrastructure
Institutions (MIIs), split into three functional areas, to boost This move is aimed at enhancing transparency and ensuring
governance and transparency. better compliance with layering restrictions under the Companies
Act, 2013. Companies are advised to use the revised Form CRL-1
• Revised Audit Committee Norms for MIIs
effective immediately for related disclosures.
SEBI barred executive directors from audit committees and [Link]
strengthened audit independence to improve oversight and mTU4uOhzi77D1A%253D%253D&type=open
accountability.
2. MCA Updates LEAP-1 Form for Overseas Listing Compliance
• SEBI Tightens Cybersecurity Norms for Intermediaries
The Ministry of Corporate Affairs (MCA) has notified amendments
SEBI updated cybersecurity rules, classifying intermediaries by to streamline the process for Indian companies seeking to list
size and requiring stricter controls, with compliance due by equity shares in permissible foreign jurisdictions.
June 30, 2025.
• Amendment Notified – Companies (Listing of Equity Shares in
• SEBI Releases ESG Debt Securities Framework Permissible Jurisdictions) Amendment Rules, 2025
SEBI defined disclosure norms for ESG debt instruments, • Effective Date – From the date of publication in the Official
including pre-issue, continuous disclosures, and independent Gazette
reviews. • Key Change – Substitution of Form LEAP-1 in the Second
• New Rules for Key Management Personnel in MIIs Schedule of the 2024 Rules

SEBI set rules for hiring/removal of KMPs in MIIs, requiring • Purpose – To standardize and clarify the application process
cooling-off periods, public disclosures, and prior regulatory for overseas equity listings under the revised framework
approval. This amendment aims to facilitate smoother cross-border listings
• Exemption from Physical Financial Statements Extended and improve regulatory clarity for Indian companies looking to tap
into global capital markets.
SEBI extended the exemption for physical delivery of financial
[Link]
statements at AGMs till September 30, 2025, aligning with
wkkPubwESbOajAA%253D%253D&type=open
MCA guidelines.
 Institute of Directors

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BOARDRO M Director
Today
®
A Monthly Journal of the
INSTITUTE OF DIRECTORS, India

J U LY 2 0 2 5

Key Highlights:

1. Mr. Anant M. Ambani appointed as Whole-time Director of Reliance Industries Ltd.

2. Mr. Gopinath Sahu appointed as Independent Director of ITI Ltd.

3. Mr. Amitabh Kant, IAS (Retd.) appointed as Additional Non-Executive Non-Independent Director for
InterGlobe Aviation Ltd.

4. Mr. Neeraj Gambhir appointed as Whole-time Director of Axis Bank Ltd.

5. Ms. Urvashi Sahai appointed as Whole-time Director of One97 Communications Ltd.

6. Mr. Mayank Bhandari appointed as Additional Independent Director of Bajaj Steel Industries Ltd.

7. Mr. Faraz Khalid appointed as Additional Independent Director of Swiggy Ltd.

8. Ms. Jayashri Balkrishna appointed as Executive Director of General Insurance Corporation of India.

9. Mr. Hemant Sikka appointed as CEO & Managing Director of Mahindra Logistics Ltd.

10. Ms. Suparna Chakrabortti appointed as Independent Director of SKP Securities Ltd.

Source:
As per corporate lings at the
TOTAL MALE FEMALE MD/CHAIRPERSON INDEPENDENT DIRECTORS Bombay Stock Exchange (BSE)
MOVEMENT /CEO till July 31, 2025.
APPOINTMENTS RESIGNATIONS

360 286 74 41 150 48

The high number of appointments, particularly among Independent Directors, suggests a continued
emphasis on board diversity, compliance, and strategic oversight. However, gender disparity remains To know more,
significant, with women comprising only 21 of overall movements. There is an ongoing need for greater scan the QR code
gender inclusion at the board level. Additionally, the moderate churn in top executive roles signals below:
cautious but deliberate leadership transitions across organizations.
Institute of Directors

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 NEWS

JULY 2025

ECONOMY

Indian economy resilient: GDP likely to VC investments in India at $3.5-bn mark

grow 6.5% in FY26 despite global in Q2, 2025: KPMG
shocks
Venture Capital (VC) investments in India
India's economy is expected to grow at touched USD 3.5 billion across 355 deals
6.5% in FY26 despite global geopolitical in Q2 of 2025, warming up sequentially in
tensions and trade policy uncertainty, value terms from USD 2.8 billion across
according to S Mahendra Dev, Chairman of the Economic Advisory 456 deals in March quarter.
Council to the Prime Minister (EAC-PM).
A USD 218 million seed round raised by PB Healthcare - a startup
While the International Monetary Fund (IMF) and World Bank have focused on developing a tech-enabled health delivery platform was
cut India's FY26 growth forecast to 6.2% and 6.3% respectively, Mr. India's largest VC investment of Q2, 2025.
Dev said, domestic momentum remains strong due to rising public
On a broader canvas, the global venture capital investment slipped
capex, healthy consumption patterns and improving rural demand.
to USD 101.05 billion in Q2, 2025 from USD 128.4 billion in Q1, 2025
India's recent disinflation trends — CPI headline inflation in June
Heading into Q3, 2025, VC investors globally are expected to remain
stood at 2.10%, the lowest since January 2019, while food inflation
cautious given the continued delay in exits across many sectors,
was at 1.06%- would also support the growth cycle. RBI has projected
rising geopolitical tensions, and ongoing uncertainties related to
average inflation at 3.7% for FY26, assuming a normal monsoon. The
tariffs and other global trade policies.
EAC-PM chairman said that the government's capex push will crowd
in private investment. Improving domestic demand could unlock
further investment, since private capex will be more once domestic
demand increases further and global uncertainties are reduced.

TECHNOLOGY

Microsoft alerts businesses, governments GreenLight Credentials steps into India's

of Spoofing Attack: education space:

Microsoft Corporation has opened a new GreenLight Credentials, the global provider of
tab that has issued an alert about "active digital credentialing solutions is entering India's
attacks" on server software used by academic landscape with the introduction of
government agencies and businesses to ReadyToWork AI, an advanced platform
share documents within organizations, and recommended security designed to make students employment-ready.
updates that customers should apply immediately. ReadyToWork AI is the world's leading AI-powered career readiness
platform. Already trusted by over 70 academic institutions and
In the alert issued, Microsoft said the vulnerabilities apply only to
having benefited more than 100,000 students worldwide, it is now
SharePoint servers used within organizations, and Microsoft 365,
poised to make a transformative impact on Indian education
which is in the cloud, was not hit by the attacks. Microsoft said that a
through its scalable and technology-driven approach to career
vulnerability "allows an authorized attacker to perform spoofing over
readiness. GreenLight Credentials has appointed EducationWorld,
a network," which is an actor that can manipulate financial markets
India's premier education magazine, as its distribution and
or agencies by hiding the actor's identity and appearing to be a
implementation partner in India.
trusted person, organization or website.

AUGUST 2025 I DIRECTOR TODAY

© Institute of Directors, India I [Link]
139
 THE FUTURE OF THE
ENVIRONMENT
Arsenic-laced drinking water, lead-contaminated soils
and choking air pollution are sadly just the start in some of the
world’s dirtiest places. Continued emissions of greenhouse gases
will lead to further climate changes.

It’s not too late to reverse the damage

LET’S SAVE THE PLANET

WORLD
ENVIRONMENT E: info@[Link] | W: [Link]
FOUNDATION
 NEWS

GRI Unveils New Climate, Energy Rules to

Drive Sustainability Reporting
The Global Reporting Initiative unveiled
two new sustainability reporting standards
aiming to streamline climate and energy
JULY 2025 disclosure for companies and push
corporate accountability amid mounting environmental and social
pressures. GRI 102: Climate Change and GRI 103: Energy introduce
science-based, globally aligned frameworks that support more
ESG actionable and consistent climate-related disclosures.
Launched during London Climate Action Week, the standards are
SBTi Introduces New Guidance for Five- designed to help organizations report greenhouse gas emissions,
Year Target Reviews, Status Updates energy use and the broader impacts of their climate strategies,
Many organizations across sectors are including those on workers, communities and indigenous people. To
using the Science Based Targets initiative's aid implementation, GRI is offering a new online course, detailed
(SBTi) standards to set and achieve FAQs and an early adopter pilot through its GRI Community, with
ambitious emission reduction targets. case studies expected later in 2025. The GRI Climate Change and
Examples include major corporations like McDonald's, Dell, and Energy Standards are now available for use, marking what the
Wipro are just a few amongst many more. Two new resources — organization describes as a “critical milestone” in advancing a
“Mandatory Five-Year Review Guidance” and “SBTi Commitment coherent global system for sustainability reporting.
and Target Statuses” — will take effect on Dec. 18, 2025. The five-year
review policy applies to corporations and small- to medium-sized Amazon Delivers 1.5 Bn Packages by EVs,
enterprises with existing validated targets. Companies are required Hits 100% Clean Energy Goal in 2024
to reassess and, if necessary, revise their targets to ensure they
remain based on science. The second resource introduces an Amazon delivered a record 1.5 billion
expanded set of target and commitment statuses on the SBTi Target packages using electric vehicles in 2024,
Dashboard. These new classifications aim to enhance accountability more than doubling its EV fleet to 31,400
and offer stakeholders clearer insights into whether companies are globally and surpassing its India EV goal a
actively engaged in the SBTi system. year ahead of schedule, the company revealed in its 2024
Sustainability Report. The e-commerce giant also retained its
New categories will distinguish between active participants or Targets position as the world's largest corporate purchaser of renewable
Set and those no longer engaged or Previous Targets. Subcategories energy for the fifth straight year, matching 100 percent of its global
will provide further detail on a company's stage in the target-setting electricity usage with renewables.
process. The updates will replace SBTi's existing Commitment
Since signing The Climate Pledge in 2019, the company has reduced
Compliance Policy when implemented in December, 2025.
carbon intensity by 40 percent. Amazon also procured 3.7 million
gallons of sustainable aviation fuel, increased renewable diesel use
16-fold year-over-year to 4.7 million gallons and, added 124 new
INDIA PARTNERSHIPS renewable energy projects, bringing its total to 621, representing 34
GW of clean energy capacity. A key breakthrough was Amazon's
entry into nuclear energy, with investments in small modular
India may relax rules for Chinese
reactors and a $500 million funding round in nuclear startup X-
investment in electronics; but only with a
energy. These projects aim to add 960 MW of carbon-free energy to
tech transfers, Partnerships or Takeoff
the U.S. grid by 2039.
denied
Government is likely to support Chinese
investments in the electronics sector if they
involve joint ventures with Indian
India-UK signed of trade pact on July 24
companies and include technology transfer, rather than just setting
up assembly units, according to officials. This approach aims to The Commerce and Industry Minister, Piyush Goyal joined Prime
strengthen domestic capabilities while ensuring greater value Minister, Narendra Modi in London for the signing of the Free Trade
addition and knowledge sharing within the country. Agreement between India and the UK on July 24. The agreement
was finalized on May 6, and it aims to eliminate tariffs on key exports
The Indian government aims to exceed 30% in two to three years
and imports, with the goal of doubling trade to USD 120 billion by
and reach 38% within the next five years as China leads globally with
2030.
38% local value addition.
The trade pact proposes to remove taxes on the export of labour-
Additionally, Indian companies are also pressing for a review of trade
intensive products such as leather, footwear and clothing, while
relations with China, especially over the restrictions introduced
making imports of whisky and cars from Britain cheaper, in a bid to
through Press Note 3, a 2020 policy change that tightened foreign
double trade between the two economies to USD 120 billion by
direct investment (FDI) norms for countries sharing a land border
2030.
with India. To counter this, India is rolling out a Rs 22,919-crore
electronics component manufacturing scheme to boost domestic Once the free trade agreement is signed, it will require approval
production. However, Indian manufacturers still rely on Chinese from the British Parliament and India's Cabinet before it can take
expertise for components, as Chinese firms currently dominate effect. It will take about a year for implementation after the signing
global supply chains. of the deal.
 NEWS

Adani nears $1.4 billion buyout of

Jaiprakash in M&A comeback
Indian billionaire Gautam Adani's
conglomerate is the frontrunner to
buy the insolvent Jaiprakash
JULY 2025 Associates Ltd. Adani Group leads
the race among bidders to acquire
the infrastructure developer with an unconditional bid of at least
MERGER AND ACQUISITION C12,000 crore ($1.4 billion). Adani Group plans to fund this acquisition
internally and without outside financing.

Reliance Retail acquires The deal, if approved, will mark a comeback for billionaire Adani to
century-old Kelvinator big ticket acquisitions. It also adds to the tailwinds around the group
brand for $18.6 million after the tycoon's surprise recent visit to China and a slew of
financing deals from marquee lenders.
Reliance Industries' retail arm, Reliance Retail Ventures announced
the acquisition of Kelvinator, the iconic refrigerator brand, in a Jaiprakash Associates, based in the northern Indian state of Uttar
strategic move to strengthen its position in India's consumer Pradesh, has business interests ranging from cement to power and
durables market. Sweden's Electrolux Group, which owns the real estate, along with Formula One tracks and hotels which makes it
Kelvinator brand, mentioned in its Q2 financial report that group a perfect fit for Adani's conglomerate since it has existing operations
operating income “included a positive effect from the divestment of in most of these sectors.
the Kelvinator trademark portfolio in India of SEK 180 million ($18.6
million). The acquisition aligns with Reliance Retail's strategy to
expand its consumer durables offerings through its extensive retail Indian jeweler Titan to buy large
network of 19,340 stores and digital platforms. stake in Dubai's Damas

The acquisition positions Reliance Retail to accelerate growth in the As per Reuters, the Titan Company
premium home appliances segment while leveraging Kelvinator's will buy a 67% stake in Dubai-based
established brand equity in the Indian market. luxury brand Damas from
Qatar's Mannai Corporation at an
enterprise value of 1.04 billion dirham ($283.2 million), potentially
making it one of the largest Indian jewelers in the Middle East. The
KNOWLEDGE CORNER Tata Group Company expects to complete the deal by January 31,
(ANSWER KEY) 2026 and will have the right to acquire the remaining 33% stake in
Q1 B Q2 A Q3 B Q4 B Damas after December 31, 2029. Titan has had a presence in the
UAE since October 2020 through its Tanishq Jewelry [Link] the
Q5 B Q6 B Q7 B Q8 B deal, Titan, which has about seven stores in the United Arab
Emirates, will gain access to Damas' 146 stores across the six Gulf
Q9 C Q10 B Cooperation Council (GCC) countries – UAE, Saudi Arabia, Qatar,
Oman, Kuwait and Bahrain.

AUGUST 2025 I DIRECTOR TODAY

142 © Institute of Directors, India I [Link]
 ®

Golden Peacock Awards

EXQUISITE NEW TROPHY UNVEILED

CORPORATE SOCIAL RESPONSIBILITY HR EXCELLENCE INNOVATION MANAGEMENT

(both Global & National)

Currently, Golden Peacock Awards Secretariat is inviting applications

for the following annual Institutional Awards, from Corporates/Industries,
including multinationals, SMEs, Public, Private and Government
Enterprises from India and abroad:

GLOBAL AWARD
The Guidelines-cum-Application Forms can be
Golden Peacock GLOBAL Award for Corporate Social Responsibility (GPGACSR) downloaded from
[Link]
NATIONAL AWARDS or
email us at info@[Link]
Golden Peacock Award for Corporate Social Responsibility (GPACSR)
Golden Peacock HR Excellence Award (GPHREA)
Golden Peacock Innovation Management Award (GPIMA) LAST for submission of
completed applications

DATE Dec 01, 2025

The selected winners under the Golden Peacock Excellence Model

for the aforesaid Awards, will be felicitated during “20th Annual International Conference on
Corporate Social Responsibility”, being held on February 19 - 20, 2026 in Mumbai (India).

GOLDEN PEACOCK AWARDS SECRETARIAT

CELEBRATING Institute of Directors @iodglobal
M-56A, Greater Kailash Part-II (M-Block Market)
Institute of Directors
35 YEARS
New Delhi - 110048, India
Tel.: +91 - 11 - 41636294, 41636717, 41008704
w: [Link]

E - info@[Link]
Date of Publication: 06th August 2025 Postal Registration No.: DL (S) - 17/3485/2024-2026
Date of Posting: 07th - 08th August 2025
RNI: DELENG/2015/61886

Printed and Published by Manoja Kishore Raut on behalf of Institute of Directors (owner) and printed at Maximus Packers.
49, DSIDC Okhla Phase-1, New Delhi and Published at M-56 A, Greater Kailash Part - II (Market), New Delhi-110048. • Editor: Manoja Kishore Raut