Signify Wins ‘Golden Peacock’ Award for Excellence in Corporate Governance for 2020 in India

Signify Innovations India Ltd, specialist in lighting products, has been awarded the coveted ‘Golden Peacock’ award for Excellence in Corporate Governance for the year 2020 by the Institute of Directors (IOD), under the Chairmanship of Justice M. N. Venkatachaliah, former Chief Justice of India and former Chairman, National Human Rights Commission of India and National Commission for Constitution of India Reforms.

The award will be felicitated at a virtual ceremony on February 10, 2021 in the presence of distinguished business leaders and participants from across the globe.

Commenting on the win, Sumit Joshi, Vice Chairman and Managing Director, Signify Innovations India Ltd said that, “it is a great honor to receive this recognition which serves as a testament to the resilience and robustness of our internal processes for governance and compliance. As a company, we always strive to uphold ourselves to the highest standards incorporate governance, which in turn has helped us conduct our company affairs in an efficient and transparent manner, according to our company’s core value – always acting with integrity.”

“With the launch of Signify 5 years ago, it necessitated setting up afresh the highest quality processes and protocols within the company that would adhere to stringent legal requirements not only in letter but also in spirit. The Golden Peacock award is a highly treasured recognition validating the continuous and tireless efforts made by the team in our journey towards achieving excellence in all our areas of operations,” said Nitin Mittal, Head of Legal and Company Secretary, Signify Innovations India Ltd.

Manoj K. Raut, Chief Executive Officer and Director, Institute of Directors said, “Signify Innovations India Ltd located at Gurugram, is one of the finest innovative organizations in recent times. They are the world leader in LED lighting innovation and at the forefront of providing high-quality, energy-efficient lighting products, systems and services, advancing towards a self-reliant India. I am also very happy to see that even though the company is not yet listed in India, it still promotes good governance practices and is driven by its good code of conduct named as ‘Integrity Code’, which is the center-point of their driving policy. The company’s decision-making process is de-centralized and worker participation is encouraged in various committees including safety committee, which is very impressive. We also observed that their CSR spends are primarily focusing on skill development, training, education in rural schools, lighting up villages with solar streetlights and also their modest support for the pandemic COVID relief.”

Golden Peacock Awards, instituted by the Institute of Directors (IOD) in 1991, are recognized worldwide as the hallmark of Corporate Excellence. It celebrates the achievements and performance of well performing organizations annually and helps to build their brand equity, which have won wide acceptance among businesses and industry globally.