The Shahani Group is known for Ethical Excellence and has institutionalized the Ethical Excellence Award at the Birth Centenary Celebrations of the Founder Trustee Mr. K.T. Shahani. The first recepients of the award were Mr. Ratan Tata, Mr. Narayana Murthy, and Mr. Dev Anand at the hands of the then Deputy Prime Minister Mr. L.K. Advani.