The Hindu Business Line : Polaris, L&T bag awards

CHENNAI: The Mother Teresa Award for Corporate Citizen 2003 instituted by the Loyola Institute of Business Administration (LIBA) was conferred on Polaris Software Labs Ltd and the commendation award to Larsen and Toubro Ltd.

The award for the responsible corporate citizen is given to a listed company, which accepts its social responsibility and adds value to its shareholders and to the community at large. The criteria for the award is that there should be commitment to quality, customer satisfaction, harmonious industrial relations, welfare of workers and gender equality.

In his acceptance speech, Mr Arun Jain, CEO, Polaris said that the company had started various social initiatives, chief among them being the Ullas Trust, which enhanced knowledge-based skills among children in the weaker sections of society.

Mr K.V. Ramaswamy, Executive Vice-President Head Operation Larsen & Toubro ECC Division said that the company donated 10 per cent of its profits to charity. Last year, the amount was Rs 42 crore. The company had various social initiatives in Mumbai, Chennai and at various job sites, he said.

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