Code of Ethics and
Business Conduct
Applicable to all Directors, Senior Management, Manager,
Officers and employees of Ansal Buildwell Limited (herein
after referred as ‘Company’)
Ansal Buildwell Limited and the Group of companies as a
whole is committed to conducting its business in accordance
with the applicable laws, rules and regulations and with
highest standards of business ethics. This code is intended
to provide guidance and help in recognizing and dealing with
ethical issues, provide mechanisms to report unethical
conduct, and to help foster a culture of honesty and
accountability. Each director, manager, officer and employee
is expected to comply with the letter and spirit of this
Code.
The directors, managers, officers and employees of the
Company must not only comply with applicable laws, rules and
regulations but should also promote honest and ethical
conduct of the business. They must abide by the policies and
procedures that govern the conduct of the Company’s
business.
Their responsibilities include helping to create and
maintain a culture of high ethical standards and commitment
to compliance, and to maintain a work environment that
encourages the stakeholders to raise and bring concerns to
the attention of the management.
Honest and Ethical Conduct
The directors, manager, officers and employees shall act in
accordance with the highest standards of personal and
professional integrity, honesty and ethical conduct not only
on Company’s premises but also at company-sponsored business
and social events as well as offsite. They shall act free
from fraud and deception. Their conduct shall conform to the
best accepted professional standards.
Fair Dealing
Each director, manager, officer and employee should deal
fairly with customers, suppliers, competitors and employees
of group companies. They should not take unfair advantage of
anyone through manipulation, concealment, abuse of
confidentiality, proprietary or trade secret information,
misrepresentation of material facts, or any other unfair
dealing-practices.
Protection and Proper Use of Company’s Assets
All directors, manager, officers and employees shall
comply with all applicable laws, rules, and regulations.
Transactions, directly or indirectly involving securities of
the Company, should not be undertaken without prior
clearance from the Company’s compliance officer, that is,
the Company Secretary. Any director, manager, officer or
employee who is unfamiliar or uncertain about the legal
rules involving Company business conducted by him/her should
consult the legal department headed by Company Secretary of
the Company before taking any action that may jeopardize the
Company or that individual.
Confidentiality
The directors, managers, officers and employees shall
maintain the confidentiality of confidential information of
the Company or that of any customer, supplier or business
associate of the Company to which Company has a duty to
maintain confidentiality, except when disclosure is
authorized or legally mandated. Confidential information
includes all non-public information (including private,
proprietary and other) that might be of use to competitors
or harmful to the Company or its associates. The use of
confidential information for his/her own advantage or profit
is also prohibited.
Compliance with Code of Conduct
If any director, manager, officer or employee who knows of
or suspects a violation of applicable laws, rules or
regulations or this Code of Conduct, he/she must immediately
report the same to the Board of Directors or any designated
person/committee thereof. Such a person should provide all
available details of suspected violations with all known
particulars relating to the issue. The Company recognizes
that resolving such problems or concerns will advance the
overall interests of the Company that will help to safeguard
the Company’s assets, financial integrity and reputation.
Violations of this Code of Ethics will result in
disciplinary action, which may even include termination of
services of the employee. The Company’s Board or any
Committee/person designated by the Board for this purpose
shall determine appropriate action in response to violations
of this Code of Ethics.
Interpretation of Code
Any question or interpretation under this Code of Ethics
and Business Conduct will be handled by the Board. The Board
of Directors has the authority to waive compliance with this
Code of business conduct for any director, manager, officer
or employee of the Company. The person-seeking waiver of
this Code shall make full disclosure of the particular
circumstances to the Board or the designated
person/committee.
Code of ethics for Senior Financial Managers and
Officers
Honesty, integrity and sound judgment of the senior
financial officers is fundamental for the success and
reputation of the Ansal Group. The professional and ethical
conduct of the senior financial officers is essential to the
proper functioning of the Company. The senior finance
officers as well as directors of the Company shall be bound
by the following code of ethics:
- Act with honesty and integrity, including the
ethical handling of actual or apparent conflicts of
interest between personal, financial and professional
relationships.
- Make full, fair, accurate, timely and
understandable disclosure in reports and documents that
the Company files with, or submits or makes periodically,
to the shareholders, government authorities, and to the
public.
- Comply with governmental laws, rules,
notifications and regulations applicable to the Company’s
business.
- Disclose to the Board or any
committee/officer designated by the Board for this
purpose, any material transaction or relationship that
reasonably could be expected to give rise to any
violations of the code including actual or apparent
conflicts with the interest of the company.
- Promote prompt reporting of violations of the
Code of Ethics to the Board of Directors or any
person/committee designated for this purpose, as may be
necessary.
- Respect the confidentiality of information
acquired in the course of employment unless legally
obliged to disclose and ensure that no such confidential
information is used for personal advantage/benefit.
- Maintain the skills necessary and relevant to
the Company’s needs.
- Act in good faith, responsibility, with due
care, competence and diligence without misrepresenting
material facts.
- Refrain from any inappropriate or undue
influence of any kind in all dealings with independent
auditors, and avoid any actual or apparent conflicts with
analysts.
- Achieve responsible use of and control over
all assets and resources employed or entrusted to them.
- Promote ethical and honest behavior within
the Company and its subsidiaries,
All senior financial managers, officers should adhere to
both the Code of Business Conduct and the Code of Ethics of
the Company. Violation of the Code of Ethics will lead to
appropriate disciplinary action including dismissal from the
services of the Company.
Any deviation/waiver from this code can only be effected on
the sole and absolute discretionary authority of the Board
or any person/committee designated by the Board for this
purpose.
All Board members and senior management personnel shall
affirm compliance with the Code on an annual basis. The
annual report of the company shall contain a declaration to
this effect signed by the CEO and CMD.
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