Code of Conduct


  • Applicable to all the directors, senior management and employees of the

→          Philosophy

Shree Ganesh Elastoplast Limited is slowly but steadily becoming 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 recognize society as an important stakeholder in this enterprise and therefore
it is part of our responsibility to practice good corporate citizenship.

It is also our belief that in order to serve the interests of our stakeholders in
perpetuity, we must build Shree Ganesh Elastoplast Limited into an institution
whose dynamism and vitality are anchored in its core values.

→          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.

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

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 the
Chief Executives of the Businesses and the Divisional Management Committees.
The Company cannot accept practices which are unlawful or may be damaging to
its reputation. Divisional Management Committees must satisfy themselves that
sound and adequate arrangements exist to ensure that they comply with the legal
and regulatory requirements impacting each business and identify and respond to
developments in the regulatory environment in which they operate. In the event
the implication of any law is not clear, the Company’s Legal Department shall be
consulted for advice

 →         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

 →          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.

→          Non Adherence

Any instance of non-adherence to the Code of Conduct / any other
observed unethical behavior on the part of those covered under this Code should
be brought to the attention of the immediate reporting authority, who shall in turn
report the same to the Head of Corporate Human Resources.