The Hindu Business Line : Ravi Nedungadi is IMA India’s CFO of the year; Tata Steel gets deal of the year award

Mumbai, Jan. 21 The UB group and the Tata Steel group Chief Financial Officers were among the winners of the 7th India CFO Awards 2007 instituted by International Markets Assessment India (IMA India).

Mr Ravi Nedungadi, CFO, UB group, who won the CFO of the Year award was recognised for his thought leadership and his work supporting his corporation’s endeavours towards globalisation through aggressive acquisitions. This “while simultaneously managing finance in a diversified business,” said a statement from IMA India.

The closing of the Deccan acquisition by the UB group in record time, the postmerger management and integration of Whyte & Mackay to achieve signification capex rationalisation and cost reduction, were among Mr Nedungadi’s achievements, said the statement.

Mr Koushik Chatterjee of Tata Steel won the ‘Deal of the Year’ award for his role in the Corus acquisition by his company. The jury for the awards felt the funding requirement of $13 billion by Tata Steel, and the complexities of a cross-border acquisition through an auction requiring negotiation through several tax jurisidictions, made for a noteworthy and unique achievement for Mr Chatterjee.

There were four other winners for 2007: Mr R. Sankaraiah, CFO, Jubilant Organosys (Excellence in Finance in a Large Corporation); Mr. Patrick de Royer, Executive Director, Siemens India (Excellence in Finance in an MNC); Mr. S V Narasimhan, Director, Finance, Indian Oil Corporation (Excellence in Finance in a PSU); and Mr. RDS Bawa, Chief Financial Officer, Network 18 (Excellence in Finance in an SME).

IMA is a firm that provides companies research, business intelligence and consultancy services.

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