Mumbai 27, 2003: The Council for Fair Business Practices (CFBP), Mumbai, has presented L&T its prestigious award - the Jamnalal Uchit Vyavahar Puraskar - 2002 for fair business practices. The Council lauded L&T's excellent record in maintaining high ethical standards in all its business dealings, high quality of products and services, emphasis on customer satisfaction, and its commitment to social obligations. Conferred annually, these awards are given under three categories: Manufacturers, Trade & Services, and Association. L&T was selected for the award in the category of Manufacturer - Large.

The awards were presented at the glittering 15th awards ceremony of CFBP held at Indian Merchants' Chamber in Mumbai on March 26, 2003. Mr. Y. M. Deosthalee, Chief Financial Officer and Member of the Board, L&T, received the award from Mr. Manohar Joshi, Speaker of the Lok Sabha and Chief Guest of the function.

CFBP is the only organisation of its kind in India and has some of the country's leading business houses and trade associations as its members. It represents the symbiosis of ethical business practices and protection of consumer rights. It was launched as a movement on October 2, 1966, on the birth anniversary of Mahatma Gandhi. The Council aims to promote fair trade practices in industry and trade, and create greater public goodwill towards the business community.