Published On: Mon, Feb 2nd, 2015

Best CFO Award for IndianOil’s Director (Finance) by ICAI

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df-ioclNew Delhi: Mr. A. K. Sharma, IndianOil’s Director (Finance) received the Best CFO Award from the Institute of Chartered Accountants of India (ICAI) in the category ‘CA CFO – Public Sector’ at an award ceremony held at Mumbai on February 1, 2015. The award recognises CFOs who have demonstrated excellence in devising key business strategies and initiatives to add value to their company and benefit stakeholders consistently, thereby becoming exemplary role models for young CAs.

Mr. A.K. Sharma with his astute financial acumen, while attending closely to cash flows, controls, costs and risk has ensured profitable growth. He played a significant role in arrangement and utilisation of funds for the massive grass root Refinery Project of Paradip costing USD 6 billion. He is also credited with consolidation of insurance policies in IndianOil resulting in significant saving in premium outgo. With his in-depth knowledge of financial markets and through his initiative Government relaxed and reduced the withholding tax rates on bonds which will benefit Indian Corporates in the long run. IndianOil’s maiden international bond issue under Reg-S format of USD 500 million in Jan 2010 was also under the leadership of Mr. Sharma, which opened a new window to raise long term overseas financing for Indian Corporates. The issue was oversubscribed 13 times.

ICAI is the premier Accounting Body not only in India but has global recognition and a reputation for its contribution in the fields of education, professional development, maintenance of high accounting, auditing and ethical standards. Mr. Sharma is also a Mentor under the Mentorship programme of ICAI for sustenance growth of profession.

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