This Code of Conduct reflects values of the Shriram culture, and is also ensuring compliance with Clause 49 of the Listing Agreement with the Stock Exchange.
The Code of Conduct for Shriram Pistons and Rings Ltd. is to ensure ethical conduct in the business. The matters covered in the Code are important for the Company, all the Board members, Senior Management, its shareholders/stakeholders and business partners, for their business conduct.
All Board members and Senior Management personnel shall observe and implement the code of Conduct in their official day to day activities.
The Board shall determine the appropriate action to be taken in the event of violation of this Code.
It is a conflict of interest to serve as a director of any other company that could be detrimental to or in conflict with the interests of the Company.
If a Board member or Senior Management personnel is considering investing in any customer, supplier, developer or competitor of the Company, he or she must first take care to ensure that these investments do not compromise on their responsibilities to the Company. The Company’s policy requires that information to Company’s audit committee be given while making such an investment. Many factors should be considered in determining whether a conflict exists, including the size and nature of the investment; their access to confidential information of the Company or of the other Company; and the nature of the relationship between Company and the other Company.
All Board members and Senior Management personnel may not exploit for their own personnel gain, any new business opportunity to the Company’s area of business viz., auto components, unless the proposal is informed in writing to the CMG, and the Company in the CMG declines to pursue such an opportunity. The Company will convey its decision within three months of receiving the written proposal.
Because other conflicts of interest may arise, it would be impractical to attempt to list all possible situations. If a proposed transaction or situation raises any questions or doubts, all Board members and Senior Management personnel must consult the Company's audit committee.