Code of
Conduct for Board of Directors & Core Management
Team
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1) |
This code of
conduct shall be known as "Corporate
Governance - Code of Conduct for Board of
Directors & Core Management Team"
hereinafter referred to as the "code of
conduct". |
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2) |
(a) This code of
conduct has been made pursuant to amendment to
Clause 49 of the Listing Agreement as a part of
compliance of corporate governance. |
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3) |
(b) Need and
objective of the Code
Clause 49 of the
Listing Agreement entered into with the Stock
Exchanges, requires, as part of Corporate
Governance, the listed entities to lay down a Code
of Conduct for Directors on the Board of an entity
and its Senior Management, Senior Management has
been defined to include personnel who are members
of its Core Management and functional heads
excluding the Board of Directors.
Accordingly
the Company has laid down this Code for its
Directors on the Board and it's Core Management. |
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4) |
(c) This Code of
Conduct will come into force from 27.03.2006 |
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5). |
Definitions: |
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For the purpose
of this code of conduct: |
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a). |
"Board of
Directors'' means the Board of Directors of
the Company |
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b). |
Core Management
means level upto General Managers of the
Company. |
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6). |
Company's belief
system
This Code of Conduct attempts to
set forth the guiding principles on which the
Company shall operate and conduct its daily
business with its multitudinous stakeholders,
government and regulatory agencies, media, and
anyone else with whom it is connected.
The
Company acknowledges the need to uphold the
integrity of every transaction it enters into and
believes that honesty and integrity in its
internal conduct would be judged by its external
behaviour. The Company shall be committed in all
its actions to the interest of the countries in
which it operates. The Company is conscious of the
reputation it carries amongst its customers and
public at large and shall endeavour to do all it
can to sustain and improve upon the same in its
discharge of obligations. The Company shall
continue to initiate policies, which are customer
centric and which promote financial prudence. |
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7). |
Philosophy of The
Code |
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The code
envisages and expects - |
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a). |
Adherence to
the highest standards of honest and ethical
conduct, including proper and ethical
procedures in dealing with actual or apparent
conflicts of interest between personal and
professional relationships. |
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b). |
Full, fair,
accurate, sensible, timely and meaningful
disclosures in the periodic reports required
to be filed by the Company with Government and
regulatory agencies. |
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c). |
Compliance with
applicable laws, rules and regulations. |
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d). |
To redress
misuse or misapplication of the Company's
assets and resources. |
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e). |
The highest
level of confidentiality and fair dealing
within and outside the Company. |
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