Persistent Systems ranks best in corporate governance practices in India

Persistent Systems, a leader in outsourced software product development (OPD) services, today announced that 2011 IR Global Rankings (IRGR) has ranked the company amongst the best top five companies that follow ‘Corporate Governance Practices’ in India. Persistent Systems shares this distinction with other leading companies such as Infosys Technologies, Kotak Mahindra Bank, Hindustan Unilever and Nucleus Software Exports.
 
IRGR announced this ranking at the IR Summit – India, held on November 2, 2011 at Mumbai. IRGR is a comprehensive ranking system for online annual reports, corporate governance practices, financial disclosure procedures and investor relations websites and is supported by global institutions such as Arnold & Porter, KPMG, MZ and Sodali. They follow an extensive methodology based on technical proprietary research for ranking.
 
“We are honored to be recognized for our corporate governance practices by IRGR”, said Vivek Sadhale, Company Secretary and Head – Legal & Investor Relations. “At Persistent, we believe corporate governance is an approach to sustainable development. Good Governance is an essential ingredient of good business. This ranking strengthens our commitment towards following transparency, accountability and integrity in all our operations towards all our stakeholders.”
 
The rankings are assigned based on assessment under different categories under Corporate Governance viz. remuneration & performance, board accountability, capital structure, shareholder protection, shareholder meetings, internal control mechanisms and financial statements & disclosure.
 
In the past, Persistent Systems has been recognized for Excellence in Corporate Governance by ICSI in 2010 and has also received the Titanium Award for Excellence in Corporate Governance, Social Responsibility and Investor Relations by the Asset Triple A Corporate Awards 2010.