The prime purpose of this Code of Conduct is to create an environment where all the Board Members, Senior Management and staff at all levels of the Company maintain ethical standards and comply with the laid down systems and procedures.
Honest and Ethical Conduct
Board Members and Senior Management of the Company shall act in accordance with the highest standards of personal and professional integrity, honesty and ethical conduct, and their conduct is expected to be in the best interest of the Company.
Conflicts of Interest
The Board Members & Senior Management of the Company shall not enter into any transaction or engage in any practice, directly or indirectly, that would tend to influence him or her to act in any manner other than in the best interest of the Company.
Corporate Opportunities
Board Members and Senior Management of the Company shall refrain from:
- aUsing for themselves personally, opportunities discovered through the use of the Company's property, information or position.
- bEngaging in any activity which competes directly with the business of the Company or with any business that the Company is considering.
- cUsing the Company's property, information or position for personal gain.
Confidentiality
Board Members and Senior Management of the Company shall maintain confidentiality of information entrusted to them by the Company or its customers, suppliers and business associates, except when authorized or legally mandatory.
Proper Use of Company Assets
While using the assets, money or any property of the Company, the Board Members and Senior Management of the Company shall be quite prudent and use them only for legitimate business purposes of the Company.
Commitment to New Benchmarks for Performance
Board Members and Senior Management of the Company shall remain committed towards setting up new benchmarks of performance with an aim to further improve the overall performance of the Company in terms of profitability and such other criteria of enhancing shareholders' value to the Company.
Systems-Oriented Approach & Compliance with Systems and Procedures
Board Members and Senior Management of the Company are expected to adopt a systems-oriented approach for the business of the Company. They shall ensure due compliance with the systems and procedures specifically laid down by the Company, and wherever such systems and procedures have not been laid down, the persons concerned will adopt a reasonable operative system and procedure so as to fully safeguard the interest of the Company.
Compliance with the Laws, Rules and Regulations
Board Members and Senior Management of the Company must comply with all applicable governmental laws, rules and regulations. They must acquire appropriate knowledge of the legal requirements relating to their duties, sufficient to enable them to recognize potential dangers, and to know when to seek advice from the legal department.
Violations of applicable governmental laws, rules and regulations may subject them to individual criminal or civil liability, as well as to disciplinary action by the Company. Such individual violations may also subject the Company to civil or criminal liability or the loss of business.
Compliance with Code of Conduct
The Board Members and Senior Management of the Company are expected to comply with this Code of Conduct in its letter and spirit.