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CODE OF CONDUCT FOR THE
EXECUTIVES IN SENIOR MANAGEMENT OF
GUJARAT INDUSTRIES POWER CO. LTD.
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| Gifts |
| Executives in ‘Senior Management’ of
the Company and members of their immediate families
may not accept gifts from persons or firms who deal
with the Company where the gift is being made in
order to influence them or where acceptance of the
gift could create the appearance of a conflict of
interest. |
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Honest and Ethical Conduct |
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Executives in ‘Senior Management’ of the Company
shall act in accordance with the highest
standards of personal and professional
integrity, honesty and ethical conduct not only
on Company's premises and offsite but also at
company sponsored business, social events as
well as any places. They shall act and conduct
free from fraud and deception. Their conduct
shall conform to the best-accepted professional
standards of conduct. |
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Confidentiality |
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Executives in ‘Senior Management’ of the Company
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. The
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. |
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Fair Dealing |
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Executives in ‘Senior Management’ of the Company
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
confidential, proprietary or trade secret
information, misrepresentation of material
facts, or any other unfair dealing-practices. |
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Protection and Proper Use of Company's Assets |
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All Executives in ‘Senior Management’ of the
Company should protect Company's assets and
property and ensure its efficient use. Theft,
carelessness, and waste of the Company's assets
and property have a direct impact on the
Company's profitability. Company's assets should
be used only for legitimate business purposes. |
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Compliance with Laws, Rules, and Regulations |
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Executives in ‘Senior Management’ of the Company
shall comply with all applicable laws, rules,
and regulations. Transactions, directly or
indirectly, involving securities of the Company
should not be undertaken without pre-clearance
from the Company's compliance officer. Any
Executive in senior management of the Company
who is unfamiliar or uncertain about the legal
rules involving Company business conducted by
him/her should consult the legal department of
the Company before taking any action that may
jeopardize the Company or that individual. |
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Compliance with Code of Conduct |
If any Executive in ‘Senior Management’ of the
Company who knows of or suspects of a violation
of applicable laws, rules or regulations or this
Code of conduct, he/she must immediately report
the same to the Managing Director or any
designated person for the purpose. Such person
should as far as possible provide the 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. All
reported violations would be appropriately
investigated.
Violations of this Code of Ethics will result in
disciplinary action, which may even include
termination of services of the Executive in
senior management of the Company. The Managing
Director or any designated person for this
purpose shall determine appropriate action in
response to violations of this Code of Ethics. |
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Interpretation of Code |
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Any question or interpretation under this Code
of Ethics and Business Conduct will be handled
by the Managing Director. Managing Director has
the authority to waive compliance with this Code
of business conduct for any Executive in senior
management of the Company. The person-seeking
waiver of this Code shall make full disclosure
of the particular circumstances to the Managing
Director. |
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Disclosure |
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Executives in ‘Senior Management’ of the Company
shall affirm the compliance with the code on
annual basis. The Annual Report of the Company
shall carry a declaration to this effect signed
by the CEO and COO of the company. Executives in
senior management of the Company will annually
sign a confirmation that they have read and will
comply with this Code. |
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