Code of Conducts
Sakthi Sugars Limited is committed to conduct its business in accordance with the applicable laws, rules and regulations and with highest standards of business ethics. The company is committed to be a good corporate citizen.
2. CONFLICTS OF INTEREST
A conflict situation may arise where, directly or indirectly:
The Directors and Senior Management Team should avoid 'conflicts of interest' with the company. In case there is likely to be a conflict of interest, he should disclose all facts and circumstances thereof to the Board of Directors or any officer nominated for this purpose by the Board and a prior written approval should be obtained.
3. FINANCIAL REPORTING AND RECORDS
The professional and ethical conduct in the matter of financial affairs is essential for the proper functioning of the company. The officers and employees engaged in the finance functions should act with honesty and integrity. The persons in-charge for finance and accounting function should prepare and maintain company's accounts fairly and accurately in accordance with generally accepted guidelines, principles, standards, laws and regulations applicable to the company. Internal accounting and audit procedures shall fairly and accurately reflect all of the company's business transactions and disposition of assets. There shall be no wilful omissions of the company transactions from the books and records. Any wilful material misrepresentation or misinformation on the financial accounts and reports shall be regarded as a violation of this code.
4. PROTECTING COMPANY ASSETS
The assets of the company should not be misused but employed only for the purpose of conducting the business for which they are authorised. All Directors and Senior Management Team should strive to protect company's assets and property and ensure its efficient use.
5. ADVANCING INTEREST OF THE COMPANY
Directors and Senior Management Team owe a duty to the company to advance its legitimate interests when the opportunity to do so arises. They should not use company's property, information or position for personal gains. All Directors and Senior Management Team of the company must strive to perform best at all times.
6. INTEGRITY AND HONESTY
The Directors and Senior Management Team shall act in accordance with the highest standards of personal and professional integrity,honesty and ethical conduct. They shall act and conduct free from fraud and deception. Their conduct shall conform to the professional standards of conduct.
7. FAIR DEAL
Each Director and the members of Senior Management Team should deal fairly with customers, suppliers and competitors. They should not take unfair advantage of anyone through manipulation, concealment, abuse of confidential, proprietary or trade secret information, misrepresentation of material facts, or any other unfair practices.
8. HEALTH, SAFETY, ENVIRONMENT AND SOCIAL RESPONSIBILITY
Sakthi Sugars Limited shall strive to provide a safe and healthy working environment and comply with all regulations regarding the preservation of the environment in and around its manufacturing facilities and other points of operations. The company is committed to prevent the wasteful use of natural resources and minimise any hazardous impact of the development, production, use and disposal of any of its products and services on the ecological environment.
The Directors and the Senior Management Team shall maintain the confidentiality of information or that of any customer, supplier or business associates of the company to which company has a duty to maintain confidentiality except when disclosure is authorised. The use of confidential information for his own advantage or profit is also prohibited.
The Directors and the Senior Management Team shall comply with all applicable laws, rules and regulations. Transactions relating to sale or purchase of company's equity shares should not be undertaken without complying the formalities contained in the company's code of internal procedures and conduct for prevention of insider trading. If any Director or Member of the Senior Management Team who knows of or suspects of a violation of applicable laws, rules or regulations or this Code of Conduct, he must immediately report the same to the Board of Directors or any designated person thereof. Such person should as far as possible provide the details of suspected violations with all known particulars relating to the issue. The company recognizes that resolving such problems or concerns will advance the overall interests of the company that will help to safeguard the company's assets, financial integrity and reputation.