Corporate Governance

Corporate Governance

Tata Sponge Iron Limited is the first Indian sponge iron plant to adopt an indigenous mechanism for direct reduction technology. It also stands out as the first sponge iron plant in India to receive the
ISO-9002 and the ISO-14000 certifications. Apart from these achievements, Tata Sponge has bagged various awards on corporate governance, quality, safety and environment. Some of the distinct ones are as follows:

  • Tata Sponge featured as one of the top 25 companies short listed and honoured for “Excellence in Corporate Governance” in 2002-03 and again consecutively for the years 2004 & 2005 by the Institute of Company Secretaries of India.
  • Won the Golden Peacock Winner’s Award for Corporate Social Responsibility for the year 2005.
  • Adjudged as a Finalist in the Golden Peacock Award for Excellence in Corporate Governance, for the year 2006.

Certification for Corporate Social Responsibility from TERI for the year 2005

The Teri Research Institute (TERI) has chosen Tata Sponge Iron Limited for a Certificate of Appreciation for its noteworthy performance towards corporate social responsibility.TERI CSR Award is one of the premier awards on corporate social responsibility in India instituted to recognise and honour companies for implementing programs and initiatives that demonstrate leadership, sincerity as well as on-going commitment in incorporating ethical values, compliance with legal requirements, respect for individuals, communities and the environment into the way they do business.

Tata Sponge’s case study on conversion of fly ash into bricks and using the entire proceeds for welfare of community in its surroundings came up for recognition by TERI. Continuing its endeavour of being a good corporate citizen, with a systematic and uncompromising attitude towards preservation of the ecosystem, Tata Sponge, along with its various other measures undertaken to manage waste, has installed four mechanical brick making machines with a combined production capacity of over 4000 bricks per hour which uses the entire flyash generated during the process of power generation.