Code of Conduct

1. Basic Principles

The competence and responsibility of employees are a major prerequisite for ELANTAS Beck India 's success. Responsibility towards other people and the environment, as also fairness and tolerance, are particularly stressed in the Company's corporate policy guidelines. These include the following principles:

  • Compliance with legal requirements, and ethical conduct.
  • Loyalty to ELANTAS Beck India
  • Fair, polite and respectful conduct towards employees
  • Consideration for the interests of customers, business partners, authorities, the public and the community at large
  • Refraining from any form of sex discrimination or discrimination attributable to an affiliation with a specific race, caste or religion
  • Responsible and transparent conduct in dealing with risks
  • Professionalism, fairness and reliability in all external business relationships

This Code of Conduct cannot comprehensively explain the legal requirements with regard to the conduct of employees. It is expected that each employee seeks advice and assistance from superiors or the responsible specialist department in the event of legal doubts regarding his/her conduct in his/her area of work. Openness and trust are very important ? especially in situation which could damage the interests of the Company.

2. Safety Health and Environmental Protection

The avoidance and reliable control over risks to people and the environment is an essential part of responsible conduct particularly in the areas of production, storage, product development and product quality.

Compliance with safety requirements is absolutely essential regardless of whether or not it is specified by law, or by internal corporate guidelines. Even through one may think that a potential risk can be safely controlled, or if a safety regulation is regarded as onerous, this should never give rise to negligence.

Environmentally conscious behaviour is not only an entrepreneurial obligation but also an important requirement for maintaining our economic efficiency and competitiveness.

Strict approval requirements are usually the norm in the erection and operation of chemical plants. Any unauthorized operation, any intentional or tolerated violation of restrictions specified in a business license, or an unapproved discharge of materials into the soil, air or water may result in criminal prosecution of the responsible employees.

Safety must be ensured when handling polluting materials and products, during transport, loading and unloading, storage and in chemical reactions. If such materials are nonetheless released or if a similar accident occurs, the persons in the company responsible for environmental protection and the Managing Director must be notified immediately.

3. Conflict of Interest

Employees are expected to devote their full attention to the business interests of the Company, and are prohibited from engaging in any outside activity which conflicts with the interests of the Company. Whilst the Company encourages Employees to contribute to the community and society, activities of such nature should not impinge Company time such that it impairs the performance of business duties and responsibilities. The acceptance of any outside Directorships should be approved by the Board to ensure that there is no conflict of interest. Employees should desist from investing in the business of any customer, supplier or competitor, unless such investments are made through public stock exchange and is not significant to influence decisions affecting the Company's relationship with such external agencies.

Employees should avoid conducting business with any organization in which a relative has a significant interest or influence, unless it can be reasonably established that it is in the Company's interest to conduct such business, in which case it should be approved by the Managing Director.

The Company discourages acceptance of gifts of value, directly or indirectly from any person/organization which has a business relationship with the Company. Any gift offered with the intention of gaining undue advantage should be reported to the immediate superior. However, exceptions apply in case of gifts which correspond to custom and politeness, and which are too minor in value to influence decisions in respect of the person/organization.

4. Corruption and Granting Advantage

The Company sells its products on the basis of performance, quality, price and suitability of the product. No personal advantage may be offered or granted to officials of customers for preferential treatment, negotiation or execution of an order.

5. Insider Trading

No ELANTAS Beck India employee may use insider information to gain advantage by purchasing or selling the shares of the Company, nor shall he pass on inside information to any third party to enable him gain advantage through trade in the Company shares.

Information in the public domain such as quarterly published results are not considered as insider information. Nevertheless out of abundant caution employees intending to buy/sell the Company's share should get prior clearance from the Finance Director.

6. Conduct with Revenue Agencies

The Company's policy is to respect the spirit and intention of various laws and rules governing the imposition of taxes, such as Income Tax, Sales Tax, Excise, Octroi, Municipal Taxes etc. It is the responsibility of concerned employees to minimize the tax burden of the Company through legitimate means and under advice from qualified experts. However, employees will under no circumstances compromise the position of the Company by being a party to tax evasion or non-compliance of tax laws/rules.

7. Discrimination

All employees have the right to fair, polite and respectful treatment by their superiors, employees and colleagues.

No one may be harassed, discriminated or, without justified reason, placed at a disadvantage on account of sex, race, caste, colour of skin, nationality, political inclinations, age, physical constitution or outward appearance.

Every employee is obliged to respect the personal sphere of other employees. Sexual harassment is prohibited.

Recruitment of employees will be solely on merit with no bias to community, caste or religion.

8. Public Activities

The Company will support industry associations in developing legislation to protect the legitimate interests of the business community. However, the Company will not engage with political parties, nor contribution towards promoting political parties' interests.

9. Protection of company property and business secrets

Business secrets and other confidential information must be treated in confidence and must be protected from onward transmission to unauthorized persons. Employees who have access to business secrets and confidential information relating to ELANTAS Beck India or other Companies must not pass such information to third parties (including members of the family and friends), not should they use such information for business purposes.

In respect of information on the electronic media, care should be taken to ensure that computers are protected by issuing and regularly changing passwords.