It is expected that business shall be carried on fundamentally in a manner that safeguards the interest of shareholders (besides other stakeholders), and enhances shareholders’ value. It shall be recognized and acted upon on the basis of the conviction that these fundamentals are best achieved through a combination of efficient and productive operations and through integrity and customer satisfaction.

Great significance and value shall be attached to the Company’s commitments, both internal and external, and every possible effort made to achieve them and adhere to them.

It is recognized that continued success depends centrally on value that can be created for the company’s shareholders and customers.

The Directors and Officers of the Company are expected to uphold professionalism and competence, integrity and honesty, trust and fairness, discipline and teamwork, as well as truthfulness and high moral standards in their day-to-day dealings and conduct, both within the Company and outside.

	All the Directors and Officers of the Company shall conduct themselves in a way that upholds and enhances the image of their position and the company. They shall not undertake or participate in any task, debate or conversation that can reflect unfavourably on their own or the company’s dignity or go against the company’s interests.
	It is expected that all the Directors and Officers of the Company shall in their personal conduct (whether on duty or not) be law abiding and demonstrate an upright character.
	All the Directors and Officers of the company share the responsibility for protecting the confidentiality and security of all our proprietary and other technical and business information.
	Personal expenses, whether one’s own, his/her family’s or on account of business interest, shall not be charged or paid for on the company’s account.

Company Rules and practices, including under the Code or pertaining to perquisites, reimbursement of expenditure or otherwise are to enable sincere, honest and diligent discharge of duties and to uphold the company’s interest and integrity and dignity of all and the company.

	All the Directors and Officers of the company must, as a philosophy, endeavour to economies on expenses in all areas and avoid any misuse or wasteful expenditure.
	Use of company’s asset(s) by any Officer, does not confer any right, nor creates a lien on the asset(s), in favour of the user at any time.
	Speculation and/or regular trading in the company’s shares or any commodity manufactured by the company by any Officers shall be unacceptable.

Accountability shall be encouraged and enforced consistently across all levels and functions. Responsibility would be taken for actions and mistakes would be admitted to.

It is made clear that the term “accountability” does not confine itself to faults or failures; the term applies equally well to achievements and strengths. (The Oxford defines “accountable” to mean, “responsible; required to account for one’s conduct or actions”).

Pride of place shall be given to the best of social, cultural and intellectual values, in behaviour and conduct.

The company is committed to adopting, besides any of its obligations under relevant laws or regulations, the best relevant practices for Corporate Governance.

The Audit Committee shall oversee the effectiveness of the audit and internal audit tasks, to assist the Board in providing useful supervision of the overall financial reporting process.

Due emphasis shall be laid on the audit/internal audit process, as necessary to safeguard the interests of shareholders. Every Director and Officer of the company must extend his full co-operation to the Auditors and ensure that all information as may be required by them is made available. The Audit Committee may also have propriety audit conducted from time to time.

Every Director and Officer of the company shall, in his or her business conduct, comply with all applicable laws and regulations, both in letter and spirit, in all the territories in which he or she operates. If the ethical and professional standards set out in the applicable laws and regulations are below that of this code of conduct, then the standards of the code shall prevail. 

The company is committed to building and maintaining long term and mutually beneficial relations with all customers and stake holders, by consistently providing high quality goods and services, through equitable conduct and by the upholding of values of commitments.

Due courtesy, consideration and promptness shall be ensured and exercised in communication and inter-personal dealings particularly with customers and generally with all other stakeholders including but not limited to suppliers, agents, dealers, financial bodies, banks and shareholders or depositors.

There shall be a consistent effort to exhibit high professional, fair and courteous values in dealings and behaviour with third parties.

Due courtesy, consideration and promptness shall be ensures and exercised in communication and inter-personal dealings equally with peers and colleagues within the company.