National Seminar on Best practices in Financial Mgmt at NLC

As part of its Diamond Jubilee Celebrations, to share the best practices for achieving further excellence in the industry, NLC IL  has organized a National Seminar on “Best practices in Financial Management” at Neyveli on 20^th  and 21^st  January 2017  at Learning & Development Centre,   Neyveli.

 Shri Susheel kumar ,IAS ,Secretary, Ministry of Coal, Govt. of India, the Chief Guest inaugurated the seminar by lighting the traditional lamp in the presence of  Shri S.Jayaraman ,former Member, CERC & former CMD,NLC India Limited,  Dr S.K Acharya  CMD,NLCIL & Functional Directors of NLCIL at Learning &Development Centre, Neyveli, on 20.01.2017.

Shri Susheel kumar  , in his inaugural address, stressed on how the companies sustainability practices may  influence investment/investors decisions. He stated that in future, companies’ environmental, social, and governance performance would become mile stones and have a high impact on long-term financial success. He insisted that, all organization would  invest in Research & Development and also need to formulate a sustainability strategy and incorporate it into its overall corporate strategy, including a clear business goal to optimize the value to the Organization.

Shri Piyush Goyal, Hon’ble Minister of State (Independent Charge) for Power, Coal, New & Renewable Energy and Mines, in his sent special message, appreciated NLCIL management for organizing the seminar which will serve as a platform for sharing and stimulating innovative ideas and suggestions on enhancing efficiency of an organization and thereby build a strong foundation for growth. Shri Piyush Goyal , complimented NLCIL management for taking lead in online payments, zero cash transactions  and other e-governance initiatives  to increase efficiency and transparency of the organization.

Dr. S.K Acharya, in his presidential message , informed that NLC India organized this seminar in order to understand the day to day  changing scenarios of the business and market in  world  and  to pitch light on best practices in financial management, ethical governance, challenges in Financial  Management  and to find out  better technical and financial control  practices which  results  in efficiency and transparency outcomes for promoting and adding value to  the transactional goals. He said present market scenario redefining our goals, changing our roles and testing our resilience for the change. A proactive approach to deal with change  ,Successful adaptation to change is as crucial within an organization,he added.

Shri S.Jayaraman in his key note address informed, for any organizational success in terms of Financial Management it depends on Business analysis, Perspectives, Reliable information System, encouraging to take free decisions in internal system and satisfying the share holders.

To mark the occasion an e-seminar broacher was released by Shri Susheel Kumar and first copy was received by Dr. Acharya.

Earlier, Shri Rakesh Kumar, Director (Finance) delivered the seminar theme speech, wherein he informed, how NLC IL  financial establishment  cope with the business environment with an approach of  People, Planet, Profit & Sustainable Development. He also reiterated that how NLC IL successfully opted Reverse auction method in Tendering and saved Rs. 460 Crores for NUPPL project. Shri R.Mohan, ED (Commercial) delivered the welcome speech. NLC I Functional Directors,              Shri SubirDas,   Shri   Thangapandian, Shri P. SelvaKumar and Shri R. Vikraman graced the Occasion.

 Shri A.Ganesan GM/Finance rendered vote of thanks.  Also, an exhibition was organized to showcase Cash Less Transactions methods,   NLCIL modus operandi & achievements.

In this two days National Seminar, 200 delegates from various organizations including NLC India are participating in various sessions on topics like accounting Practices  including Implementation of Ind AS, Taxation including  GST, Cost control Techniques, Resource Mobilization, Recent Developments in Finance  etc..