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Introduction
This
code of ethics / conduct intends to ensure adherence to highest
business and ethical standards while conducting the business and
compliance with the legal and regulatory requirements.
Corporate Governance
Clause
49 of the listing agreement 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.
Explanation
: For this purpose, the term "senior management"
shall mean personnel of the company who are members of its core
management team excluding Board of Directors. Normally, this
would comprise all members of management one level below the
executive directors, including all functional heads.
Accordingly
S&S Power Switchgear Limited has laid down this code for its
directors on the Board and its core management.
Conduct
The company
shall strive to promote honesty in the ethical conduct of
business and management, ethical handling of apparent conflicts
of interest between personal and professional relationship.
Conflict of interest
When
personal interest of any member of the Board of Directors and of
core management conflicts with the interest of the company in
any material transaction, the interest of the company will
prevail. If there is any material transaction that
reasonably could expect to give rise to such conflict, the
Board members shall avoid such conflict and disclose it to the
Board, which will uphold the interest of the company above than
other interest.
Confidentiality of information and fair dealing
The Board
and officials shall ensure the maintenance of confidentiality of
information about its business, customers and other materially
significant information obtained or created in connection with
any activities with the business of the company.
Information communication
The Board
and officials will strive to provide to the Government of India
– Ministry of Company Affairs, Stock Exchanges and other
regulators accurate, and timely disclosures.
Waiver and Violation of the code
Any waiver
of provisions of this code of conduct for a member of the Board
shall be approved in writing by the Board.
The board
shall have power to take any necessary action in case of any
violation of the code.
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