Joy Basu, chief financial officer of rediff.com, has been named the winner in the category of medium-sized businesses in the 6th Annual CFO Awards 2006.

The India CFO Awards have been instituted by the International Market Assessment, India, a research and business information company and adjudged by a panel of CEOs, CFOs, academics and previous winners in India.

According to the IMA, judges look for "implementation of best practices in such areas as reporting, general accounting, cost accounting, internal controls, transaction processing, etc."

"It is an honour to be a winner of the India CFO Awards 2006," said Basu. "We have always tried to adopt and institutionalise global best practices in corporate governance and financial management."

"I am delighted that Joy has won this prestigious award," said Ajit Balakrishnan, chairman and CEO, rediff.com. "As the CFO of the company, he has played an invaluable role over the last four years. During this period we have strengthened our position as a leader in the Indian online space and built value for all our stakeholders by focusing on product innovation as part of our core strategy."

rediff.com is one of the premier worldwide online providers of news, information, communication, entertainment and shopping services to Indians worldwide. Rediff.com provides a platform for Indians worldwide to connect with one another online. Founded in 1996, Rediff.com is headquartered in Mumbai, India with offices in New Delhi and New York, USA.