Code of Conduct
Applicable to all directors, senior management and employees of the Company
Philosophy
GARUDA is a professionally managed organisation and the core value underlying our
corporate philosophy is "trusteeship". We believe this organisation has been handed
to us by the various stakeholders in "trust" and we as professionals are the "trustees"
of these stakeholders. It is therefore our responsibility to ensure that the organisation
is managed in a manner that protects and furthers the interests of our stakeholders.
We recognise society as an important stakeholder in this enterprise and therefore
it is part of our responsibility to practise good corporate citizenship.
Corporate Governance Policy
The Corporate Governance Policy is the apex level instrument guiding conduct of
the affairs of the Company and clearly delineates the roles, responsibilities and
authorities of the key entities in the governance structure of the Company. This
Code forms an integral part of the Company's Governance Policy. The directors, senior
management and employees must adhere to the Corporate Governance Policy of the Company.
Good Corporate Citizenship
In the conduct of the Company's business, the practice of good corporate citizenship
is a prerequisite and embraces the following:
Dealing with People in the Organisation
In dealing with each other, directors, senior management and employees shall uphold
the values which are at the core of our HR Philosophy - trust, teamwork, mutuality
and collaboration, meritocracy, objectivity, self respect and human dignity. Indeed,
these values form the basis of our HR management systems and processes. In selection
and recruitment, while meritocracy will be a prime criterion, managers will scrupulously
consider all factors that go towards securing the interests of the Company.
A Gender Friendly Workplace
As a good corporate citizen,GARUDA is committed to a gender friendly workplace.
It seeks to enhance equal opportunities for men and women, prevent/stop/redress
sexual harassment at the workplace and institute good employment practices.
Relationships with Suppliers and Customers
All directors, senior management and employees shall ensure that in their dealings
with suppliers and customers, the Company's interests are never compromised. Accepting
gifts and presents of more than a nominal value, gratuity payments and other payments
from suppliers or customers will be viewed as serious breach of discipline as this
could lead to compromising the Company's interests.
Legal Compliance
It is the Company's policy to comply fully with all applicable laws and regulations.
Ensuring legal and regulatory compliance is the responsibility of all.
Health and Safety
The Company attaches great importance to a healthy and safe work environment.GARUDA
is committed to provide good physical working conditions and encourages high standards
of hygiene and housekeeping. Particular attention should be paid to training of
employees to increase safety awareness and adoption of safe working methods, particularly
designed to prevent serious or fatal accidents.
Environment Policies
The Company believes that commitment to sustainable development is a key component
of responsible corporate citizenship and therefore deserves to be accorded the highest
priority. Accordingly, the Company is committed to Best Practices in environmental
matters arising out of its business activities and expects each business to fully
demonstrate this commitment.
Personal Conduct
All directors, senior management and employees have the obligation to conduct themselves
in an honest and ethical manner and act in the best interest of the Company at all
times. They are expected to demonstrate exemplary personal conduct through adherence
to the following:
Avoidance of Conflict of Interest
All directors, senior management and employees must avoid situations in which their
personal interest could conflict with the interest of the Company. This is an area
in which it is impossible to provide comprehensive guidance but the guiding principle
is that conflict, if any, or potential conflict must be disclosed to higher management
for guidance and action as appropriate.
Transparency and Auditability
All directors, senior management and employees shall ensure that their actions in
the conduct of business are totally transparent except where the needs of business
security dictate otherwise. Such transparency shall be brought about through appropriate
policies, systems and processes, including as appropriate, segregation of duties,
tiered approval mechanism and involvement of more than one manager in key decisions
and maintaining supporting records. It shall be necessary to voluntarily ensure
that areas of operation are open to audit and the conduct of activities is totally
auditable.
Protection of Confidential Information
No director, senior management and employee shall disclose or use any confidential
information gained in the course of employment/ association with the Company for
personal gain or for the advantage of any other person. No information either formally
or informally shall be provided to the press, other publicity media or any other
external agency except within approved policies.
Company Facilities
No director, senior management and employee shall misuse Company facilities. In
the use of Company facilities, care shall be exercised to ensure that costs are
reasonable and there is no wastage.
Leading by Example
The organisation's directors and senior management set the professional tone for
the Company. Through both their words and their actions, the organisation's leadership
conveys what is acceptable and unacceptable behaviour. GARUDA 's directors, senior
management and employees must constantly reinforce through their actions and behaviour
that GARUDA's stated beliefs of responsible corporate citizenship are rooted in
individual conviction and personal integrity.
Waivers
Any waiver of any provision of this Code of Conduct for a director, senior management
or employee must be placed for approval before the Company's Board of Directors/
Corporate Management Committee, as appropriate.