A M Naik, chairman and managing director of Larsen & Toubro Limited (L&T), has been recognised again for professional eminence and inspiring leadership by winning the 'Outstanding Chief Executive Award' given by the Indian Institution of Industrial Engineering (IIIE). The award was presented at the inaugural function of 7th National Convention of IIIE held in Pune. Naik received the award at the hands of Prithviraj Chavan, Union Minister for State. Naik has been widely acclaimed for leading a transformation process in L&T, widening its international presence and boosting its market capitalisation. The award Jury also took into account Naik's success in steering L&T through its most challenging times and enabling it to emerge stronger. He had spearheaded the move to de-merge L&T's cement business and unlock value for shareholders. Simultaneously, he initiated the steps that led to significant employee participation in the ownership structure of the company.This is the latest addition to a number of encomiums received by Naik.
Incidentally, Bank of India has also earlier covered all Home Loan borrowers under a group mediclaim policy, whereby the loan outstanding is insured against death/disablement of the borrower by accident. The bank has also come up with a festive offer by reducing the rate of interest by 25 basis points whereby Home Loans can be availed with interest rate as low as 7.25 per cent per annum. Retail hubs have been started specifically catering to housing and other retail loans to provide speedy and expeditious sanctions.
The Institution of Electrical Engineers (IEE), the largest professional engineering society in Europe, today presented its most prestigious honor 'The Faraday Medal' for the year 2005 to Azim Premji, Chairman, Wipro.
Premji is the first Indian ever to be honored with this coveted award. In his acceptance speech, Premji said, 'the Faraday Medal is a source of inspiration for those in the field of science, technology and engineering. I am deeply honored to accept the prestigious Faraday Medal from the IEE. The medal is actually recognition of the untiring contribution made by the software engineers at Wipro and the Indian software community towards global technology.
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