This Code of Conduct is for “Sangwan Family” (herein after referred to as “officers”) to maintain the standards of business conduct for the Company and ensure compliance with legal requirements.
The code would deter wrong doing, promote ethical conduct and ensure upholding of value systems.
All are expected to read and understand this code, uphold these standards in day to day activities and comply with all the policies and procedures. Nothing in this code creates or implies an employment contract or term of employment.
The Company is dedicated to take on the best corporate governance practices to ensure accountability of management and maximization of stakeholders value. We shall make every effort to put in place process system and governance structure which is best in the industry ,so as to maximize the interest of our stakeholders.
The Board of Directors of the Company shall provide timely and authentic information to its stakeholders about all pertaining aspects of the Company’s business, and make known such information in accordance with the respective regulations and agreements.
Honest and ethical conduct
We expect all officers to act in accordance with the highest standards of personal and professional integrity, honesty and ethical conduct while working for the Company. We consider honest conduct which is free from fraud or deception. Ethical conduct means ethical handling of actual or apparent conflict of interest between personal and professional relationships.
Disclosure of records and reports
The Company shall prepare and maintain its accounts in accordance with the accounting and financial reporting standards which represent the generally accepted guidelines, principles, laws and regulations of the country in which the Company conducts its business affairs.
The Company’s policy is to provide full, fair , accurate, timely and understandable disclosure in reports and documents ,in accordance with the financial reporting standards to all those who are directly or indirectly related to the organization.
No employee shall disclose or use any confidential information gained in the course of employment with the Company for personal profit or for the advantage of any other person. No employee shall provide any information either formally or informally to the press or to any other publicity media unless specifically authorized to do so.
Conflict of interest
All are duty bound to avoid and disclose actual and apparent conflict of interest and are prohibited from engaging in any activity that interferes with the performance or responsibilities to the Company or is otherwise in conflict with or prejudicial to the Company. Our policies prohibit officers from accepting simultaneous employment with suppliers, customers, developers or competitors of the Company. Officers must disclose to the company’s audit committee any interest that they have which may conflict with the business of the Company. When investing in any customer, supplier, developer or competitor company, the officer should take care to see that it does not compromise with the responsibilities to the Company.
Gifts and Donations
Gifts given by the Company to its suppliers, customers, or received from them should be accurately recorded. The company and its employees shall neither receive nor offer or make, directly or indirectly, any illegal payments, remuneration or comparable benefits which are intended to or perceived to obtain business or uncompetitive favors for the conduct of its business.
Compliance with governmental laws, rules and regulations
Officers must comply with all applicable government laws, rules and regulations. Officers must acquire appropriate knowledge of all legal requirements relating to their duties. Violation of laws rules and regulations may subject officers to individual criminal or civil liability, as well as disciplinary action by the Company.
Corporate Social Responsibility
We believe in upholding ethical and moral standards in our personal as well as business dealings with all persons/organizations associated with us.
We recognize that we are part of the global society and are committed towards the welfare of our shareholders, customers, employees, channel partners and the society as a whole.
The company attaches great importance to a healthy environment and to the safety of its employees. The company shall be committed to prevent the wasteful use of natural resources and minimize any hazardous impact on environment.
Violation of code
Officer’s job is to help Company to enforce this code. Violations should be reported to the Audit Committee. Officers must cooperate with internal or external investigations for any violations. The Company will take appropriate action against the officer whose actions are found to violate the code or any other policy of the Company. Disciplinary action would include termination of employment. Where the Company suffers a loss it may purse legal remedies against the individuals responsible.
Waivers and amendments to the code
Company would review and update the policies and procedures. The code is subject to modification. Any amendment to the code is subject to the approval of the Board of Directors and will be disclosed to all the officers and is pursuant to the applicable laws and regulations.