CORPORATE > GOVERNANCE
Our corporate governance philosophy is based on the following principles:
1. Be transparent and maintain a high degree of disclosure levels.
2. Make a clear distinction between personal conveniences and corporate resources
3. Communicate externally, in a truthful manner, about how the Company is run internally
4. Comply with the laws in all the countries in which we operate
5. Have a simple and transparent corporate structure driven solely by business needs
6. Management is the trustee of the shareholders' capital and not the owner.
Corporate Governance Report – June 2011
Corporate Governance Report – September 2011
Corporate Governance Report – December 2011
Corporate Governance Report – March 2012
Corporate Governance Report – June 2012
Corporate Governance Report - September 2012
Corporate Governance Report - December 2012
Corporate Governance Report - March 2013
Corporate Governance Report - June 2013
Corporate Governance Report - September 2013
Corporate Governance Report - December 2013
Corporate Governance Report - March 2014
CORPORATE > CODE OF CONDUCT
In the conduct of the Company’s business, the practice of good corporate citizenship is a pre-requisite 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. Nandan Denim Limited will focus on meritocracy, equity and upholding of Company values in all people processes including performance management systems, appraisals, remuneration and rewards.
A Gender Friendly Workplace
As a good corporate citizen, Nandan Denim Limited is committed to a gender-friendly workplace. It seeks to enhance equal opportunities for men and women, prevent/stop/redrss any kind of harassment at the workplace and institutes good employment practices (harassment may include unwelcome physical contact; any kind of demand or request for favours and any other unwelcome conduct of such nature). Nandan Denim Limited maintains an open door for reportees; encourages employees to report any harassment concerns and is responsive to employee complaints about any offensive conduct. Nandan Denim Limited demands, demonstrates and promotes professional behaviour and respectful treatment of all employees (male and female).
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 business. The Company cannot accept practices which are unlawful or may be damaging to its reputation. The Management must satisfy itself that sound and adequate arrangements exist to ensure that it complies with the legal and regulatory requirements impacting each business and identify and respond to developments in the regulatory environment in which it operates. In the event the implication of any law is not clear, the Company’s Legal Department shall be consulted for advice.
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.
Health and Safety
The Company attaches great importance to a healthy and safe work environment. Nandan Denim Limited 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.
In addition to complying with applicable laws and regulations, business must establish procedures for assessing the environmental effects of their present and future activities. They should adopt best practices in their environmental policies and procedures.
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.
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. Nandan Denim Limited’s directors, senior management and employees must constantly reinforce through their actions and behaviour that Nandan Denim Limited’s stated beliefs of responsible corporate citizenship are rooted in individual conviction and personal integrity.
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.