The Corporate Values & Beliefs

Topics: Business ethics, Corporate governance, Ethics Pages: 8 (2399 words) Published: July 16, 2009
The Corporate Values & Beliefs
Good Corporate Governance rests on ethical business behaviour of being fair and civic minded, fulfilling duties to the varied stakeholders and building integrity and faith across all its operations. It ensures application of sound business principles keeping in view the interest of shareholders, health and welfare of employees, needs of customers, and all other stakeholders. This calls for greater responsibility requiring openness, transparency and accountability. The Company endeavours to develop ethical behaviour - through tradition, value based systems and commitment to the letter and spirit of laws of the society in which it operates. Based on the collection of values and beliefs, the Code is a comprehensive template of ethical and responsible behaviour for guiding the Company's actions and decisions. It is supplementary in nature and supportive to the core values underlying the corporate objectives. The Company has been applying several measures for checks and balances and have put in controls and processes commensurate with the size and nature of activities of the Company. An Audit Committee was also constituted with independent directors bringing more accountability at all levels. The Company endeavours to uphold good corporate governance and direct its practices towards ensuring transparency, full disclosure, independent monitoring and being fair to all. The Company firmly believes that such ethical practices will strengthen the stakeholders trust and enable the company to attract financial and human capital, perform efficiently and attain the underlying goal of maximizing long-term value for shareholders. The Company remains committed to laying strong emphasis on Corporate Governance and will continue its efforts towards raising the standards keeping pace with the changing economic environment. Objective

The Company seeks to attain the highest level of standards in conducting its business and uphold good governance practices and corporate social responsibilities. In this context, the Company strives to direct its activities in all areas of business in line with the economic environment. Through these committed efforts, the Company endeavours to maintain high standards of ethical business behaviour and build trust amongst consumers, employees, shareholders and the community for sustainable growth and development. Underlying Core values

The company shall uphold the core values underlying its business activities and growth, viz. Integrity through fairness, honesty and transparency; Understanding by caring respect, compassion and humanity. Excellence through the highest possible standards & quality of work; Unity through strong relationships based on tolerance, understanding and mutual cooperation. Responsibility in the dealings with people, community and society. National interest

The Company shall direct its business activities keeping in view the benefit towards economic development of the society in which it operates. It shall ensure that none of its activities adversely affect or defeat the objectives nor is detrimental to the interest of the nation or have any adverse impact on society or life of its citizens. The business activities shall be conducted in accordance with the policies, objectives and priorities of the government. Corporate citizenship

The Company shall be committed to be a good corporate citizen by complying with all relevant laws and regulations, improvement the standards of performance and keeping in view the development of the people and society in which it conducts its business. The Company shall continuously review its systems and procedures and in line with the practices required as per the policies announced by the Government from time to time. Competition

The Company shall conduct its business and affairs in line with the principles of a competitive and open market economy. Its activities shall not be conducted in a way which has the tendency of forming...
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