MEDINOVA DIAGNOSTIC SERVICES LIMITED

CODE OF CONDUCT & ETHICS

FOR

THE MEMBERS OF THE BOARD AND SENIOR MANAGEMENT

 

The  Board of Directors of the company has adopted the  following  Code  of  Conducts  and Ethics for Directors in  the  Board  and Senior Management personnel of the company.

 

The  Senior  Management  personnel  means,  all  members  of  the management  one level below the Board i.e. Chief General  Manager  of the Company.

 

This Code of conduct is intended to focus on the Board members  &  Senior  Management  personnel on the areas of  Loyalty,  Honesty, Integrity and to avoid any Conflict of Interest.

 

This  Code of conduct will be reviewed by the Board from time  to time  to  keep in pace with the regulatory  environment  and  any amendments to this Code.

 

Each and every Director and Senior Management personal is expected to comply with the Code in true letter and spirit.

 

I   HONEST & ETHICAL CONDUCT :

 

The  Directors and Senior Management personnel are required  to act in accordance with the highest standards of  Professional  Integrity, Honesty, Ethical and Legal conduct, when acting on     behalf  of  the company or in connection  with  the  company's business  or  operations and at social events.  Their  conduct     should  be free from fraud or deception.  They should act  in  the best interest of the company which in turn should  enhance the  reputation of the company and full fill their  duties  to  the  stake holders of the company. The colleagues  and  other  associates  of  the company should be treated  by  them  with  dignity.

 

II CONFLICT OF INTEREST :

 

The Board members and Senior Management personnel must  avoid  any  Conflict  of  Interest with the company.   If  any  such  situation arises the same should be disclosed promptly to the     Board.  A " Conflict of Interest" can occur when ;

 

    a)  Personal  interest is  adverse  to  or may appear to  be adverse to the interests of the Company as a whole.

 

    b) A  Director  including  Senior  Management  personal  or  his/her  relative  receives undue personal  benefits  on account of his/her position in the company.   

 

Note  :  relatives here means,  Parents,  Brothers,  Sisters,  Spouse, Children, Daughters-in-Law & Sons-in-Law 

 

Some  of  the  usual instances of " Conflicts of  interest  " which should be avoided, are given below :

 

    1) Board members and  Senior Management personnel shall not receive any personal benefit from a person or an entity, which is seeking for or having any business relationship with the Company. A Director shall not participate in  a decision  making process of the Board involving  another entity  in  which the Director has  direct  or  indirect interest.

 

    2)  The Director and  the Senior Management personnel  shall not accept any compensation for services performed  from any source other than the Company.

 

    3) The Directors and the Senior Management personnel  shall neither  give  nor  receive any Gifts  from  persons  or entities  which  deal with the Company, where  any  such Gift is perceived as intended directly or indirectly  to influence  the  Board  or where  such  acceptance  could create a Conflict of Interest.

 

    4)  The Directors and  the Senior Management personnel shall not use Assets, Labour or information of the Company for personal use.

 

    5)  The Directors and the Senior Management personnel  shall not  divert  business opportunities of the  Company,  by exploiting   for  their  own  personal  gain,   business opportunities  that  are discovered through the  use  of corporate  propriety information or position.   However, The Directors and Senior Management personnel can pursue such   business  opportunities  once  they  are   fully disclosed  to  the company and the Company  declined  to pursue such opportunities.

 

III  LEGAL COMPLIANCE :

 

The  Directors  and  the  Senior  Management  personnel   are obligated  to  conduct  the business and  operations  of  the Company  in accordance with the Laws, Rules, Regulations  and Guide  Lines. This includes Accounting   standards  governing its operations.

 

The  Directors  and  the Senior  Management  personnel  shall   acquire  appropriate  knowledge  of  the  legal  requirements  relating to their duties sufficient to enable them to perform their obligations deligently. They also will comply with  the internal policies and procedures of the Company.            

 

 The Director should inform the company immediately about  the emergence  of  any situation which may disqualify  them  from directorship.

 

IV  CONFIDENTIALITY  :

 

The  Directors  and  the  Senior  Management  personnel  must maintain  the confidentiality of information relating to  the affairs of the Company until and unless authorised or Legally required to disclose such information.

 

V   COMPETITION AND FAIR DEALING  :

 

The Directors and the Senior Management personnel shall  deal fairly  and  honestly with each  other,  Company  associates, Company  customers,  Company's suppliers and  also  Company's competitors and any other third party.

 

VI  DISCIPLINARY ACTION  :

 

The  matters covered in this Code of Conducts and Ethics  are of paramount importance to the company and its Stake  holders and  are  vital  to  the company's  ability  to  conduct  its business  in  accordance  with its laid down  values.  It  is expected  that  The  Directors  and  the  Senior   Management personnel comply with the provisions of this Code in  carrying out  their  duties for the Company.  The  Company  will  take appropriate Disciplinary action against any person, who found to violate provisions of this Code.

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