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1.0 |
Introduction |
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1.1 |
This code of
Conduct (“this Code”) shall be called “The Code of Business
Conduct & Ethics for Board Members and Senior Management
Personnel” of BHARAT HEAVY ELECTRICALS LIMITED (hereinafter
referred to as “the Company”) |
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1.2 |
The purpose of
this Code is to enhance ethical and transparent process in
managing the affairs of the Company. |
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1.3 |
This Code for
Board Members and Senior Management Personnel has been
framed specifically in compliance of the provisions of
Clause 49 of the Listing Agreement with Stock Exchanges. |
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1.4 |
It shall come
into force with effect from the 31st day of December, 2005. |
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2.0 |
Definitions & Interpretations |
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2.1 |
The term
"Board Members" shall mean Directors on the Board of
Directors of the Company. |
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2.2 |
The term
“Whole-time Directors” or “Functional Directors” shall be
the Directors on the Board of Directors of the Company who
are in whole-time employment of the Company. |
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2.3 |
The term
“Part-time Directors” shall mean Directors on the Board of
Directors of the Company who are not in whole time
employment of the Company |
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2.4 |
The term
“Relative” shall have the same meaning as defined in Section
6 of the Companies Act, 1956. |
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2.5 |
The term
“Senior Management Personnel” shall mean personnel of the
Company who are members of its core management team
excluding Board of Directors and would comprise all members
of management one level below the Whole time Directors,
including all functional heads. |
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2.6 |
The term “the
Company” shall mean Bharat Heavy Electricals Limited. |
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In this Code words importing the masculine gender shall
include feminine gender and words importing singular shall
include the plural or vice versa. |
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3.0 |
Applicability |
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3.1
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This code
shall be applicable to the following personnel |
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a) |
All Whole-time
Directors including the Chairman & Managing Director of the
Company. |
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b) |
All Part-time
Directors including Independent Directors under the
provisions of law. |
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c) |
Senior
Management Personnel. |
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3.2 |
The Whole-time
Directors and Senior Management Personnel should continue to
comply with other applicable/ to be applicable policies,
rules and procedures of the Company. |
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4.0 |
Contents of Code |
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Part I |
General Moral
Imperatives |
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Part II |
Specific
Professional Responsibilities |
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Part III |
Specific
Additional Provisions for Board Members and Senior
Management Personnel |
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The code is
intended to serve as a basis for ethical decision-making in
the conduct of professional work. It may also serve as a
basis for judging the merit of a formal complaint pertaining
to violation of professional ethical standards.
It is understood that some words and phrases in the code of
ethics and conduct document are subject to varying
interpretations. In case of any conflict, the decision of
the Board shall be final |
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