All employees at Bharat Forge are expected to adhere to the Code of Conduct, which
contains 25 clauses as guidelines for good business practices. Some of the clauses
would be relevant to you as our suppliers/ potential suppliers. These clauses are
reproduced below for your perusal. We request you to give us your commitment to
follow these guidelines, in your business dealings with us.
1.Clause No-5 (Gifts and donations)
A Bharat Forge company and its employees shall neither receive nor offer or make,
directly or indirectly, any illegal payments, remuneration, gifts, donations or
comparable benefits which are intended to or perceived to obtain business or uncompetitive
favours for the conduct of its business. However, a Bharat Forge company and its
employees may accept and offer nominal gifts, which are customarily given and are
of commemorative nature for special events.
2. Clause No –13 (Third-party representation)
Parties which have business dealings with the kalyani group but are not members
of the group such as consultants, agents, sales representatives, distributors, contractors,
suppliers, etc. shall not be authorized to represent a Bharat Forge company if their
business conduct and ethics are known to be inconsistent with the code.
3. Clause No- 20. (Conflict of interest)
An employee of a Bharat Forge company shall not engage in any business, relationship
or activity, which might detrimentally conflict with the interest of his company
or the group. A conflict of interest, actual or potential, may arise where, directly
or indirectly,
(a) an employee of a Bharat Forge company engages in a business, relationship or
activity with anyone who is party to a transaction with his company;
(b) an employee is in a position to derive a personal benefit or a benefit to any
of his relatives by making or influencing decisions relating to any transaction,
and
(c) an independent judgment of the company's or group's best interest cannot be
exercised.
The main areas of such actual or potential conflicts of interest would include the
following:
(i) Financial interest of an employee of a Bharat Forge company or his relatives
including the holding of an investment in the subscribed share capital of any company
or a share in any firm which is an actual or potential competitor, supplier, customer,
distributor, joint venture or other alliance partner of the Bharat Forge company.
(The ownership of up to 1% of the subscribed share capital of a publicly held company
shall not ordinarily constitute a financial interest for this purpose.)
(ii) An employee of a Bharat Forge company conducting business on behalf of his
company or being in a position to influence a decision with regard to his company's
business with a supplier or customer of which his relative is a principal, officer
or representative, resulting in a benefit to him or his relative.
(iii) Award of benefits such as increase in salary or other remuneration, posting,
promotion or recruitment of a relative of an employee of a Bharat Forge company
where such an individual is in a position to influence the decision with regard
to such benefits.
(iv) Acceptance of gifts, donations, hospitality and / or entertainment beyond the
customary level from existing or potential suppliers, customers or other third parties
which have business dealings with the company.
Notwithstanding that such or other instances of conflict of interest exist due to
any historical reasons, adequate and full disclosure by the interested employees
should be made to the company's management. It is also incumbent upon every employee
to make a full disclosure of any interest which the employee or the employee's immediate
family, which would include parents, spouse and children, may have in a company
or firm which is a supplier, customer, distributor of or has other business dealings
with his company.
Every employee who is required to make a disclosure as mentioned above shall do
so, in writing, to his immediate superior who shall forward the information along
with his comments to the person designated for this purpose by the MD/ CEO who in
turn will place it before the MD / CEO and / or the board of directors / executive
committee appointed by the board and, upon a decision being taken in the matter,
the employee concerned will be required to take necessary action as advised to resolve
/ avoid the conflict.
If an employee fails to make a disclosure as required herein and the management
of its own accord becomes aware of an instance of conflict of interest that ought
to have been disclosed by the employee, the management would take a serious view
of the matter and consider suitable disciplinary action against the employee.
4. Clause No –17 (Ethical conduct)
Every employee of a Bharat Forge company, which shall include whole-time directors
and the managing director, shall deal on behalf of the company with professionalism,
honesty, integrity as well as high moral and ethical standards. Such conduct shall
be fair and transparent and be perceived to be as such by third parties.
Every employee shall be responsible for the implementation of and compliance with
the code in his professional environment. Failure to adhere to the code could attract
the most severe consequences including termination of employment.
The complete document is available at Purchase dept. for reference. You are
requested to help us to uphold the high ethical conduct expected of our company
and our employees.
In case you find any deviations
with respect to the above guidelines you can report your concerns by e-mailing us
at info@kalyani.co.in. Alternately
if you have any queries regarding these guidelines, you could send them on this
email id.
