Code of Conduct

Code of Conduct for Board of Directors & Core Management Team


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".


(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.


(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.


(c) This Code of Conduct will come into force from 27.03.2006



For the purpose of this code of conduct:


"Board of Directors'' means the Board of Directors of the Company


Core Management means level upto General Managers of the Company.


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.


Philosophy of The Code

The code envisages and expects -


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.


Full, fair, accurate, sensible, timely and meaningful disclosures in the periodic reports required to be filed by the Company with Government and regulatory agencies.


Compliance with applicable laws, rules and regulations.


To redress misuse or misapplication of the Company's assets and resources.


The highest level of confidentiality and fair dealing within and outside the Company.