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This Code of Business Conduct covers a wide range of business practices and procedures. It does not cover every issue that may arise, but it sets out basic principles to guide all employees and officers of the Organization. All of our employees and officers must conduct themselves accordingly and seek to avoid even the appearance of improper behaviour. The code should also be provided to and followed by the Organization agents and representatives. In addition, Organization policies apply to various Organization operations and you need to know and follow those policies that apply to your Organization work.

Employees and officers are responsible for understanding the legal and policy requirements that apply to their jobs and reporting any suspected violations of law, this code, or Organization policy.

If a law conflicts with a policy in this code, you must comply with the law. Alternatively, if a local custom or policy conflicts with this code, you must comply with the code. If you have any questions about these conflicts, you should ask your supervisor how to handle the situation.

Those who violate the standards in this code will be subject to disciplinary action, including possible dismissal. Furthermore, violations of this code may also be violations of the law and may result in civil or criminal penalties for you, your supervisors and/or the Organization.

If you are in a situation which you believe may violate or lead to a violation of this code, follow the procedures this code. The basic principles discussed in this code are subject to Organization policies covering the same issues.

For Stakeholder

1. Compliance with Laws, Rules and Regulations.

Obeying the law, both in letter and in spirit, is the foundation on which this Organization ethical standards are built. All employees and officers must respect and obey the laws, rules, and regulations of the cities, states, and countries in which we operate. Although employees and officers are not expected to know the details of each of these laws, rules and regulations, it is important to know enough to determine when to seek advice from supervisors, managers or other appropriate personnel.

2. Corporate Opportunities

Employees and officers are prohibited from taking opportunities that are discovered through the use of corporate property, information or position for themselves without the consent of the senior authority. No employee or officer may use corporate property, information or position for personal gain and no employee or officer may compete with the Organization directly or indirectly. Employees and officers owe a duty to the Organization to advance the Organization interests when the opportunity to do so arises.

3. Confidentiality

Employees and officers must maintain the confidentiality of proprietary information entrusted to them by the Organization or its customers or suppliers, except when disclosure is authorized in writing by the chief financial officer or required by laws or regulations. Proprietary information includes all non-public information that might be of use to competitors or harmful to the Organization or its customers or suppliers if disclosed. It includes information that suppliers and customers have entrusted to us. The obligation to preserve proprietary information continues even after employment ends.

4.Conflicts of Interest

By clicking on ‘I agree’ and proceeding further, you acknowledge, represent and undertake that you willingly wish to know more about MNRS & Associates, its capabilities and research content and information available on the knowledge site for your own knowledge and personal use. The content and information available on this knowledge site should not be construed as nor relied upon as legal advice. You, as a reader or recipient of content or information available on this knowledge site, should not act, nor refrain from it, based upon any or all of such content or information but should always seek the advice of competent legal counsel licensed to practice the relevant law in the appropriate jurisdiction.

5. Insider Trading

All non-public information about the Organization should be considered confidential information. Employees and officers who have access to confidential information about the Organization or any other entity are not permitted to use or share that information for trading purposes in Organization A, the other entity’s securities, or for any other purpose except for the conduct of the Organization  business. To use non-public information for personal financial benefit or to “tip” others who might make an investment decision on the basis of this information is not only unethical, but also illegal. If you have any questions, please consult the Organization Guidelines for Trading Organization Stock.

6. Political Contributions

Except as approved in advance by the chief executive officer or chief financial officer, the Organization prohibits political contributions (directly or through trade associations) by the Organization or its business units. This includes:

  •  Any contributions of Organization funds or other assets for political purposes;
  •  Encouraging individual employees to make any such contribution; or
  •  Reimbursing an employee for any contribution.

Individual employees are free to make personal political contributions as they see fit.

7. Competition and Fair dealing

We seek to outperform our competition fairly and honestly. We seek competitive advantages through superior performance never through unethical or illegal business practices. Stealing proprietary information, possessing trade secret information that was obtained without the owner’s consent, or inducing such disclosures by past or present employees of other companies is prohibited. Each employee and officer should endeavour to respect the rights of and deal fairly with the Organization customers, suppliers, competitors and employees. No employee or officer should take unfair advantage of anyone through manipulation, concealment, abuse of privileged information, misrepresentation of material facts, or any other illegal trade practice.

No employee or officer is permitted to engage in price fixing, bid rigging, allocation of markets or customers, or similar illegal activities.

To maintain the Organization valuable reputation, compliance with our quality processes and safety requirements is essential. All inspection and testing documents must be handled in accordance with all applicable specifications and requirements.

The purpose of business entertainment and gifts in a commercial setting is to create goodwill and sound working relationships, not to gain unfair advantage with customers. No gift or entertainment should ever be offered, given, provided or accepted by any Organization employee or officer, family member of an employee or officer, or agent unless it: (1) is not a cash gift, (2) is consistent with customary business practices, (3) is reasonable in value, (4) cannot be construed as a bribe or payoff and (5) does not violate any laws, regulations or applicable policies of the other party’s organization. Please discuss with your supervisor any gifts or proposed gifts that you are not certain are appropriate.

8. Discrimination and Harassment

The diversity of the Organization employees is a tremendous asset. We are firmly committed to providing equal opportunity in all aspects of employment and will not tolerate any illegal discrimination or harassment based on race, colour, religion, sex, national origin or any other protected class. For further information, consult the appropriate Organization policy.

9. Environmental

The Organization expects its employees and officers to follow all applicable environmental laws and regulations. If you are uncertain about your responsibility or obligation, you should check with your supervisor, unit manager or the Organization senior management for guidance.

10. Health and Safety

The Organization strives to provide each employee and officer with a safe and healthy work environment. Each employee and officer has the responsibility for maintaining a safe and healthy workplace for all employees and officers by following environmental, safety, and health rules and practices and by reporting accidents, injuries and unsafe equipment, practices or conditions. Violence and threatening behaviour are not permitted.

Employees and officers are expected to perform their Organization related work in a safe manner, free of the influences of alcohol, illegal drugs or controlled substances. The use of illegal drugs in the workplace will not be tolerated.

11. Record-Keeping, Financial Controls and Disclosures

The Organization requires honest, accurate and timely recording and reporting of information in order to make responsible business decisions.

All business expense accounts must be documented and recorded accurately in a timely manner. If you are not sure whether a certain expense is legitimate, ask your controller. Policy guidelines are available from your controller.

All of the Organization books, records, accounts and financial statements must be maintained in reasonable detail; must appropriately reflect the Organization transactions; must be promptly disclosed in accordance with any applicable laws or regulations; and must conform both to applicable legal requirements and to the Organization system of internal controls.

Business records and communications often become public and we should avoid exaggeration, derogatory remarks, guesswork or inappropriate characterizations of people and companies that may be misunderstood. This applies equally to e-mail, internal memos and formal reports. Records should always be retained or destroyed according to the Organization record retention policies. In accordance with those policies, in the event of litigation or governmental investigation, please consult the Corporate Vice President – Administration.

12. Protection and Proper Use of Organization Assets

All employees and officers should protect the Organization assets and ensure their efficient use. Theft, carelessness and waste have a direct impact on the Organization profitability. All Organization assets are to be used for legitimate Organization purposes. Any suspected incident of fraud or theft should be immediately reported for investigation. Organization assets should not be used for non-Organization business.

The obligation of employees and officers to protect the Organization assets includes the Organization proprietary information. Proprietary information includes intellectual property such as trade secrets, patents, trademarks and copyrights, as well as business, marketing and service plans, engineering and manufacturing ideas, designs, databases, records, salary information, and any unpublished financial data and reports. Unauthorized use or distribution of this information is a violation of Organization policy. It could also be illegal and result in civil or criminal penalties.

13. Payments to Government Personnel

The Indian Govt prohibits giving anything of value (directly or indirectly) to officials of foreign governments or foreign political candidates in order to obtain or retain business. While the RBI does, in certain limited circumstances, allow nominal “facilitating payments” to be made, any such payment must be discussed with local management and the Organization Senior management before any such payment can be made.

In addition, the Indian government has a number of laws and regulations regarding business gratuities, which may be accepted by Indian government personnel. The promise, offer or delivery to an official or employee of the Indian government of a gift, favour or other gratuity in violation of these rules would not only violate Organization policy but will also commit a civil or criminal offense. State and local governments, as well as foreign governments, often have similar rules.

14. Trade Issues

From time to time, the India have imposed boycotts and trading sanctions against various governments and regions, which must be obeyed. Advice regarding the current status of these matters must be obtained from the chief financial officer.

15. Waivers of the Code of Business Conduct and Ethics

Any waiver of this code for executive officers or directors may be made only by the board of directors and will be promptly disclosed as required by law or regulation.

16. Reporting any Illegal or Unethical Behaviour

Employees are encouraged to talk to supervisors, managers or other appropriate personnel about observed behaviour that they believe may be illegal or a violation of this Code of Conduct or Organization policy or when in doubt about the best course of action in a particular situation. It is the policy of the Organization not to allow retaliation for reports made in good faith by employees of misconduct by others. Employees are expected to cooperate in internal investigations of misconduct.

17. Improper Influence on Conduct of Auditors

It is prohibited to directly or indirectly take any action to coerce, manipulate, mislead or fraudulently influence the Organization independent auditors for the purpose of rendering the financial statements of the Organization materially misleading. Prohibited actions include, but are not limited to, those actions taken to coerce, manipulate, mislead or fraudulently influence an auditor: (1) to issue or reissue a report on the Organization  financial statements that is not warranted in the circumstances (due to material violations of generally accepted accounting principles, generally accepted auditing standards, or other professional or regulatory standards); (2) not to perform an audit, review or other procedures required by generally accepted auditing standards or other professional standards; (3) not to withdraw an issued report; or (4) not to communicate matters to the Organization  audit committee.

18. Financial Reporting

As a public Organization, it is necessary that the Organization filings with the Indian be accurate and timely. The Organization expects employees and officers to take this responsibility very seriously and provide prompt and accurate answers to inquiries related to the Organization public disclosure requirements

The Organization policy is to comply with all financial reporting and accounting regulations applicable to the Organization. If any employee or officer has concerns or complaints regarding accounting or auditing matters of the Organization.

19. Compliance Procedures

We must all work to ensure prompt and consistent action against violations of this code. However, in some situations it is difficult to know right from wrong. Since we cannot anticipate every situation that will arise, it is important that we have a way to approach a new question or problem. These are the steps to keep in mind:

  1. Make sure you have all the facts. In order to reach the right solutions, we must be as fully informed as possible.
  2. Ask yourself: What specifically am I being asked to do? Does it seem unethical or improper? This will enable you to focus on the specific question you are faced with and the alternatives you have. Use your judgment and common sense; if something seems unethical or improper, it probably is.
  3. Discuss the problem with your supervisor. This is the basic guidance for all situations. In many cases, your supervisor will be more knowledgeable about the question and will appreciate being brought into the decision-making process. Remember that it is your supervisor’s responsibility to help solve problems. If you are uncomfortable discussing the problem with your supervisor, you can talk to your general manager or human resources manager.
  4. Seek help from Organization resources. In a case where it may not be appropriate to discuss an issue with your supervisor or local management, call our office No which will put you in direct contact with the Senior Management of the Organization at Organization headquarters. If you prefer to write, address your concerns to the Senior Management or the audit committee of the board of directors. Anonymous reports can be made through the internet to or for calls originating in call our office no.
  5. You may report violations in confidence and without fear of retaliation. If your situation requires that your identity be kept secret, your anonymity will be protected. The Organization does not permit retaliation of any kind against employees or officers for good faith reports of suspected violations.
  6. Always ask first, act later: If you are unsure of what to do in any situation, seek guidance before you act.
  7. All employees and officers are subject to the Organization code, which describes procedures for the internal reporting of violations of the code. All employees and officers must comply with those reporting requirements and promote compliance with them by others. Failure to adhere to this code by any employee or officer will result in disciplinary action up to and including termination.

For Client

  1. Provision of services by affiliates: The services shall be provided by the Service Provider or by any of its affiliates, as the Service Provider may consider appropriate.
  2. Performance of services: The Service Provider reserves the right to assign personnel to perform the above referred services and would assign personnel who are, in the Service Provider’s judgment, qualified to complete the services requested.
  3. Verbal advice: Verbal advice that is not confirmed by the Service Provider in writing is merely the Service Provider’s preliminary reaction and not to be acted upon by the Client. The Client should not proceed in reliance on advice until receiving such written confirmation.
  4. Electronic communication of information: The Service Provider may communicate with the Client electronically (e.g. emails, web upload, etc.) from time to time on the basis that in consenting to this method of communication the Client accepts the inherent risks that electronic transmission of information cannot be guaranteed to be secure or error free and such information could be intercepted, corrupted, lost, destroyed, arrive late or incomplete or otherwise be adversely affected or unsafe to use and that the Client shall perform virus checks. Accordingly, the Service Provider shall not have any liability to the Client arising from or in connection with the electronic communication of information to the Client.
  5. Non-solicitation: During the term of the engagement and 2 years thereafter, the Client shall not, directly or indirectly, offer or solicit the services (through employment or otherwise) of any employee of the Service Provider who is directly or indirectly involved in performing or assisting with performance of the assignment.
  6. Force Majeure: The Service Provider shall not be responsible or liable for any delay in delivery or in the provision of services due to fires, strikes, labour disputes, war, civil commotion, delays in transportation, or material, failure of the Client to provide any agreed upon information or equipment, communication line failure, power failure, failure of computer equipment or software or any other causes beyond the control of the Service Provider. The existence of such delays shall extend the time for performance on the part of the Service Provider to such extent as may be necessary to enable the Service Provider to perform after the cause of delay has been removed.
  7. Claim: No claim arising out of services rendered by the Service Provider shall be asserted more than three years after the date of the provision of service or one year after the date of termination of the relationship whichever is earlier.
  8. Use of Clients name and Logo: The Service Provider reserves the right to represent to its existing clients and prospects about the relationship with the Client under the proposal. However, the Service Provider shall not disclose any confidential information pertaining to the Client.
  9. Liability: The Service Provider’s liability, if any, in contract, tort or otherwise arising in connection with any matter relating to the service shall not exceed in total the amount paid by the Client to the Service Provider for this service, during the 12 month period immediately prior to the cause of action arising or actual loss incurred by the client (as determined by the final court of competent jurisdiction), whichever is lesser. In no event shall the Service Provider be liable for consequential, special, incidental or punitive loss, damage or expense (including without limitation, lost profits, opportunity costs, etc.) even if the Service Provider has been advised of their possible existence.
  10. Payment terms: The invoice shall be raised as per the above terms and the payment shall be made within 15 days of receipt of dated invoice.
  11. Tenure: The tenure of this relationship shall be as per the agreed terms.
  12. Variations in Standard Terms: The Service Provider shall provide services to the Client subject to these conditions which shall be in addition to the terms and conditions as mutually agreed in writing. Any changes or additions to the Services or these conditions must be agreed in writing by the Service Provider and the Client.
  13. Views expressed – Assumptions & Limitations: Service Provider’s views may differ depending upon changes in facts, circumstances or legal provisions. Governmental or judicial authorities may or may not subscribe to the views expressed herein.
  14. Applicable law and jurisdiction: The arrangement would be subject to laws applicable in Delhi and court of law of Delhi.