| CODE
OF CONDUCT FOR SENIOR MANAGEMENT
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The
Company’s philosophy on
Corporate Governance is built
on the fundamentals of fair and
transparent Governance and Disclosure
practices. This includes adherence
to honest, ethical and professional
conduct, respect for human values
and individual dignity.
This Code lays down the broad
principles and sets out responsibilities
for the Conduct of the the Senior
Management of the Company in their
pursuit of achieving the Company’s
goals and objectives. “Senior
Management” means and includes
the personnel of the Company who
are members of its Core Management
Team excluding the Board of Directors
but including all Functional Heads
and Executive Committee Members.
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1. |
The Code comes
into effect from 1st January 2006. |
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2. |
The Members shall
strive towards excellence in achieving
total customer satisfaction in
all transactions relating to products
and services through: |
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Dedicated
Team Effort. |
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Continual
improvement in Quality of
the product and services. |
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Upgrading
the employee skills through
effective training. |
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Adopting
the latest technologies
and use of Scientific Instruments
for perfection. |
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Compliance
with the requirements of
implemented Quality Management
system and continually improving
its effectiveness. |
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3. |
The Members shall
be ethical role models by demonstrating
the highest standards of Professionalism,
Integrity and responsibility and
foster an environment of trust
and co-operation and will ensure
proper usage of authority as delegated
to them. |
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4. |
The Members shall
devote full time for the Company’s
work and shall not undertake any
direct/indirect business, pursuit
or work, honorary or remunerative,
in his own interest or in any
entity which engages in activities
in competition with the business
or potential business of the Company.
They shall not engage in any activity
that interferes in the
proper discharge of responsibilities
or is in conflict with or prejudicial
to the interests of the company. |
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5. |
The Members shall
secure, preserve, safeguard and
use Confidential information of
the Company only to the best interests
of the Company and shall not divulge
any information to the Third parties
or derive any benefit or assist
others to derive any benefit from
access to or possession of information
of the Company. The confidentiality
of the information shall be maintained
notwithstanding the severance
of association with the Company. |
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6. |
The members shall
not use or proliferate information
which is not available to the
investing public and which therefore
constitutes insider information
for making or giving advice on
investment decisions on the securities
of the Company. The Members should
be committed to adhering to SEBI
(Prohibition of Insider Trading)
Regulations |
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Such insider information
includes the following: |
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Acquisition
and divestiture of businesses
or business units. |
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Financial
Information. |
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Announcement
of new product introductions
or developments. |
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Asset Revaluations. |
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Investment
decisions/plans. |
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Restructuring
plans. |
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Major supply
and Delivery agreements
and Raising finances. |
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7. |
The Members shall
not accept gifts or hospitality
beyond the customary level or
any donations, loans or advances
from the existing or potential
suppliers, customers or third
parties having business dealings
with the Company. |
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8. |
The Members are
responsible for effective control
and appropriate use of the Company’s
tangible and intangible resources,
entrusted to them in the official
discharge of their duty. |
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9. |
The Members shall,
in his or her conduct, comply
with all applicable laws and regulations,
both in letter and in spirit,
in all territories in which he
or she operates. |
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10. |
The Members shall
strive to provide a safe and healthy
environment and comply, in the
conduct of the business affairs,
with all regulations regarding
the preservation of the environment.
They shall be committed to prevent
the wasteful use of natural resources
and minimize any hazardous impact
of the development, production,
use and disposal of
any of its products and services
on the ecological development. |
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| The
Members shall confirm that they
have received, read and understood
the Code of Conduct, and agree
to comply with the Code in the
format specified on the Annual
Basis |
